Ministry of Trade, Industry and Energy

FDI arrivals to Korea climb 26.4% in Q1 2025

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that foreign direct investments (FDIs) pledged to Korea in the first quarter of 2025 (Jan-Mar, acc.) decreased 9.2 percent year-on-year to USD 6.4 billion, while FDIs that actually arrived in Korea over the same period soared 26.4 percent to $3.5 billion. By type, greenfield investments jumped 20.7 percent to $4.7 billion, recording all-time highs for Q1 despite internal and external uncertainties, raising anticipation for job creation and local economic development. M&A investment pledges shrank 45.4 percent to $1.7 billion, but arrivals surged 31.9 percent to $1.9 billion. By industry, the manufacturing sector saw FDI pledges fall 24.5 percent to $2.3 billion. Pledges for the service sector dropped 7.4 percent to $3.6 billion, whereas arrivals leaped 68.7 percent to $2.8 billion.  By region, FDI pledges coming in from the U.S. rose 15.0 percent to $0.8 billion. Pledges and arrivals from the EU both skyrocketed 163.6 percent and 123.5 percent, respectively, to $1.5 billion and $1.1 billion. Pledges from Japan climbed 8.6 percent to $1.2 billion. Meanwhile, those from China contracted 75.0 percent to $0.3 billion.   date2025-04-03

Korea’s exports gain 3.1% in March

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s exports and imports for March 2025 rose 3.1 percent and 2.3 percent year-on-year, respectively, to USD 58.3 billion and $53.3 billion. The trade balance netted a surplus of approximately $5.0 billion. Exports reached a second highest for the month, increasing for two months straight. The number of working days considered, the daily average export value also grew 5.5 percent to $2.7 billion. Seven out of 15 major items advanced in the month, thanks to positive growth seen across all information technology (IT) goods. Semiconductor exports (up 11.9 percent to $13.1 billion) turned to an expansion, boosted by strong demand for high value-added memory chips like HBMs and DDR5s. Computers including solid-state devices (up 33.1 percent to $1.2 billion) and wireless communication devices (up 13.8 percent to $1.3 billion) each rose for the 15th and second consecutive month. Displays gained 2.9 percent to $1.5 billion, ending the seven-month losing streak. Despite the slowdown of some electric vehicle (EV) models, automobile exports progressed 1.2 percent to $6.2 billion on the backs of demand for hybrid electric vehicles (HEVs) and gas-powered vehicles. Ship exports recorded $3.2 billion (up 51.6 percent), a new high since December 2023 ($3.7 billion), snapping the downward streak. Bio-health exports (up 6.9 percent to $1.4 billion) increased for the second consecutive month, led by pharmaceuticals (up 13.2 percent to $0.9 billion). By region, Korea’s exports expanded to six out of nine major destinations. Exports to China (down 4.1 percent to $10.1 billion) faltered from the decline of semiconductor exports, in spite of the robust performance of petrochemicals and wireless communication devices.  U.S.-bound exports climbed 2.3 percent to $11.1 billion and those to ASEAN also surpassed China-bound exports with $10.3 billion (up 9.1 percent) for the second consecutive month. To the EU, ship exports doubled and bio-health items (up 9.8 percent to $6.3 billion) showed solid growth. Exports to the Middle East (up 13.6 percent to $1.8 billion) maintained growth for two months running and those to Japan (up 2.2 percent to $2.2 billion) and the CIS (up 30.1 percent to $1.1 billion) resumed their upward trajectory.   date2025-04-01

Minister Ahn meets Japan’s Minister of Economy, Trade and Industry

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry Muto Yoji on March 30 in Seoul on the margins of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting to discuss joint response measures in view of the changing global trade landscape. date2025-03-31

Minister Ahn meets China’s Minister of Commerce

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea met China’s Minister of Commerce Wang Wentao on March 29 in Seoul on the occasion of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting to discuss measures for bilateral cooperation and trade issues. date2025-03-31

Korea-Japan-China joint press briefing

The Ministry of Trade, Industry and Energy (MOTIE) of Korea, the Ministry of Economy, Trade, and Industry (METI) of Japan, and the Ministry of Commerce (MOFCOM) of China held a joint press briefing on the sidelines of the 13th Korea-Japan-China Economic and Trade Ministers’ Meeting on March 30 in Seoul. date2025-03-31

13th Korea-Japan-China Economic and Trade Ministers’ Meeting

Minister for Trade, Industry and Energy Dukgeun Ahn attended the 13th Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China on March 30 in Seoul with the participation of Japan’s Minister of Economy, Trade and Industry Muto Yoji and China’s Commerce Minister Wang Wentao, where they discussed follow-up measures to the ninth trilateral summit held in May 2024 and reaffirmed the need for cooperation among the three countries for the regional and global economic prosperity and stability. date2025-03-31

Joint Media Statement of the Thirteenth Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China

Joint Media Statement of the Thirteenth Economic and Trade Ministers’ Meeting between the Republic of Korea, Japan and the People’s Republic of China 30 March 2025, Seoul, Korea   1.      We, the Economic and Trade Ministers of the Republic of Korea, Japan and the People’s Republic of China, convened in Seoul, Korea, on 30 March 2025, to hold the Thirteenth Korea-Japan-China Economic and Trade Ministers’ Meeting.   2.      We reaffirmed our conviction that trilateral efforts in the economic and trade sectors are essential for fostering the prosperity and stability of the regional and global economy, as emphasized in the Joint Declaration of the Ninth Trilateral Summit in May 2024.    3.      We noted with satisfaction the advancements made in trilateral cooperation between our three countries and held fruitful discussions on the future trajectory of our cooperation. We especially recognized the need for ongoing trilateral economic and trade cooperation to effectively address emerging challenges and achieve tangible outcomes in key areas.    4.      We shared the view that the Thirteenth Trilateral Economic and Trade Ministers’ Meeting plays a vital role in strengthening our trilateral cooperation. The Minister of Economy, Trade and Industry of Japan and the Minister of Commerce of the People’s Republic of China expressed their appreciation for the efforts of the Minister of Trade, Industry and Energy of the Republic of Korea as Chair to ensure the continual progress of trilateral economic and trade cooperation.   5.        (WTO Reform) We support the rules-based, open, inclusive, transparent, non-discriminatory multilateral trading system with the World Trade Organization (WTO) at its core. We emphasized the need to advance the necessary reform of the WTO and strengthen all its functions, including negotiation, monitoring, deliberation and dispute settlement so that the organization can become more responsive and resilient in addressing current trade challenges, particularly in the lead up to the 14th WTO Ministerial Conference (MC14). We also reiterated our support for the extension of the moratorium on customs duties on electronic transmissions at MC14. We commended the efforts to intensify discussions in the WTO on contemporary key issues.   6.        (WTO JSIs) Acknowledging the value of ongoing plurilateral discussions under the WTO, including the Joint Statement Initiatives (JSIs), we highlighted their potential to address emerging trade issues, foster inclusive economic growth, and build momentum towards multilateral outcomes. We urged WTO Members to support the early incorporation of the Investment Facilitation for Development (IFD) Agreement and the Agreement on Electronic Commerce into the WTO legal framework and encouraged wider participation in the Agreements.   7.      (RCEP) We highlight the importance of the transparent, smooth and effective implementation of the Regional Comprehensive Economic Partnership (RCEP) Agreement. We encourage the RCEP Joint Committee to finalise the Terms of Reference of the Accession Working Group (AWG) for new membership to the RCEP as soon as possible.   8.        (Trilateral FTA) We keep discussions for speeding up negotiations for a Trilateral FTA with a view to realizing a free, fair, comprehensive, high-quality and mutually beneficial FTA with its own value.   9.       (Predictable and Reliable Business Environment) We will continue to work to ensure a global level playing field to foster a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade an date2025-03-31

Trade Minister meets Ambassador of the Dominican Republic to Korea

Minister for Trade Inkyo Cheong of the Republic of Korea held talks with Federico Cuello, Ambassador of the Dominican Republic to the Republic of Korea, on March 27 in Seoul to exchange views on the global trade landscape and discuss measures for stronger bilateral economic cooperation. date2025-03-28

Minister meets with Alaska Governor

Minister for Trade, Industry and Energy Dukgeun Ahn of the Republic of Korea held talks with Alaska Governor Mike Dunleavy on March 25 in Seoul and discussed measures for stronger Korea-Alaska energy cooperation and wider Korea-U.S. trade and investment. Minister Ahn also requested the Alaska state government’s support and interest towards Korean firms’ stable investment in the local U.S. market. date2025-03-28

Korea and Dominican Republic discuss trade and economic cooperation

Minister for Trade Inkyo Cheong of the Republic of Korea held talks with Federico Cuello, Ambassador of the Dominican Republic to the Republic of Korea, on March 27 in Seoul to exchange views on the global trade landscape and discuss measures for stronger bilateral economic cooperation. During the talks, Trade Minister Cheong noted the rising need for economic cooperation between Korea and Latin America amid the rapidly changing global trade environment and requested Ambassador Cuello’s active role in this respect as the Dean of the Group of Latin American and Caribbean Countries (GRULAC). In view of the Dominican Republic being Korea’s major economic partner in the Latin American and Caribbean region, Trade Minister Cheong proposed that the two countries widen their trade and industry cooperation based on the bilateral Trade and Investment Promotion Framework (TIPF) signed on the occasion of the Dominican Republic Vice President Raquel Peña’s visit to Korea in April 2023. Moreover, the trade minister asked the Dominican Republic’s cooperation with regard to the bilateral Economic Partnership Agreement (EPA) negotiations for the establishment of a stable basis for greater trade and investment between the two countries. He also requested support towards facilitating Korean businesses’ participation in the Dominican Republic’s energy infrastructure projects going forward.   date2025-03-28