Ministry of Trade, Industry and Energy

“K-FEZ Day in Europe” launches in London and Frankfurt

Korea’s Ministry of Trade, Industry and Energy (MOTIE) launched “K-FEZ Day in Europe” from May 19–23 in London and Frankfurt. Co-organized by MOTIE, the FEZ Planning Office, and the Korea Trade-Investment Promotion Agency (KOTRA), K-FEZ Day initially kicked off in Singapore last year with an aim to introduce Korea’s Free Economic Zones (FEZs) to investors in major cities around the world. This year’s K-FEZ Day was launched in the UK and Germany, countries ranking first and second in Europe by number of investments made in Korea as of 2024. Five of Korea’s FEZs (Incheon, Busan-Jinhae, Gwangyang Bay Area, Ulsan, Chungbuk) took part in the event. In the UK, a Korea-UK Investment Seminar was held to articulate the strengths of Korea’s FEZs and introduce investment strategies of each FEZ, held with roughly 30 UK-based potential and real estate investors such as Leonard Design Architects and Pure Data Centres Group. Following the seminar, participants and investors engaged in one-on-one business consultations on hotels, offices, healthcare facilities, and logistics. In Germany, a Korea-Germany Advanced Industries Roundtable was convened to heighten interest in FEZs with the participation of local companies holding track records of Korea-bound investments, such as DB Schenker, AMDT, Prettl, and Wilo. Participants discussed further commitments in future mobility, electrical and electronics, bio, machinery, and robotics. Head of Korea’s FEZ Planning Office Lee Hyunjo led the delegation for K-FEZ Day in Europe, stating that K-FEZ Day is a valuable opportunity for in-person promotions of Korea’s FEZs across major investor countries and that outcomes of the event will be managed by KOTRA Business Centers.   date2025-05-23

Trade Minister meets China’s Ambassador to Korea

Korea’s Minister for Trade Inkyo Cheong met China’s Ambassador to Korea Dai Bing on May 21 in Seoul to discuss Korea-China economic cooperation. date2025-05-23

Trade Minister holds conference with Latin America’s ambassadors to Korea

Korea’s Minister for Trade Inkyo Cheong attended a conference with Latin America’s ambassadors to Korea, including Ambassador of the Dominican Republic to Korea Federico Alberto Cuello Camilo, on May 20 in Seoul to discuss Korea-Latin America trade and economic cooperation. date2025-05-23

Korea Trade Commission holds 460th meeting

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) held the 460th KTC meeting today at the Government Complex Sejong for deliberation and resolution on one anti-dumping investigation and received a report on the roll-out of three other anti-dumping investigations. Regarding the anti-dumping investigations on Chinese and Taiwanese petroleum resin initiated in August 2024, the KTC gave the determination confirming the dumping of imports and its injury on domestic industries. Accordingly, the KTC will be proposing a five-year anti-dumping duty of between 2.26% and 18.52% on the said products to Korea’s economy and finance minister. The KTC also received a report on the launch of anti-dumping investigations on fiberboards imported from Thailand, Japanese and Chinese industrial robots, and Saudi Arabian butyl glycol ether (BGE). On the same day, the KTC held a public hearing on the domestic industry’s injury from dumped imports of Chinese hot-rolled carbon and other alloy steel plates, for which investigations were initiated in October 2024, to grant interested parties sufficient opportunity to make statements and ensure their rights of defense. The said products are currently subject to a provisional anti-dumping duty of between 27.91% and 38.02% through April 24–August 23, 2025, and await a final determination in the latter half of this year following domestic and overseas due diligence procedures.   date2025-05-22

Deputy Trade Minister meets Papua New Guinea’s International Trade and Investment Secretary

Korea’s Deputy Minister for Trade Park Jong-won met Papua New Guinea’s International Trade and Investment Secretary Jacinta Warakai-Manua on May 14 at ICC Jeju on the sidelines of the 2025 APEC MRT Meeting and discussed bilateral trade issues. date2025-05-21

Minister Ahn meets U.S. Trade Representative

Trade, Industry and Energy Minister Dukgeun Ahn met with U.S. Trade Representative Jamieson Greer on May 16 at ICC Jeju and reviewed the Korea-U.S. technical discussions held on May 1 and agreed to hold further consultations going forward. date2025-05-19

Deputy Trade Minister meets Chile’s Undersecretary for International Economic Relations

Korea’s Deputy Minister for Trade Park Jong-won met with Claudia Sanhueza Riveros, Chile’s Undersecretary for International Economic Relations, on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed progress on the Korea-Chile FTA upgrade negotiations. date2025-05-19

Deputy Minister for Trade meets Canada’s Special Envoy for the Indo-Pacific

Korea’s Deputy Minister for Trade Park Jong-won met with Ian McKay, Canada’s Special Envoy for the Indo-Pacific and Ambassador to Japan on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral trade and investment cooperation. date2025-05-19

Trade Minister Cheong meets with Japan's METI & MOFA vice ministers

Minister for Trade Inkyo Cheong met with Masaki Okushi, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI), and Miyaji Takuma, Vice Minister of Japan’s Ministry of Foreign Affairs (MOFA), on May 16 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed multilateral trade cooperation and Korea-Japan economic cooperation. date2025-05-19

Korea strengthens cooperation with Asia-Pacific economies to address global trade uncertainties

Korea’s Minister for Trade Inkyo Cheong of the Ministry of Trade, Industry and Energy (MOTIE) held high-level bilateral talks with trade representatives of 14 APEC member economies and the World Trade Organization (WTO) through May 14-16 on Jeju Island, as part of a series of bilateral meetings convened on the sidelines of the 2025 APEC Ministers Responsible for Trade (MRT) Meeting. During the talks, he took stock of the recent developments in U.S. tariff consultations with major economies and discussed measures to enhance trade and economic cooperation in addressing global trade uncertainties. First, Trade Minister Cheong met with U.S. Trade Representative Jamieson Greer on May 15 to discuss the status of U.S. tariff consultations with major economies and to exchange views on the Korea-U.S. technical discussions launched on May 1. Representative Greer noted Korea’s efforts to deliver meaningful outcomes through this year’s APEC MRT Meeting as chair of APEC 2025. On May 16, Trade Minister Cheong held a meeting with Masaki Okushi, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI), and Miyaji Takuma, Vice Minister of Japan’s Ministry of Foreign Affairs (MOFA). Commemorating the 60th anniversary of the normalization of diplomatic relations, the two sides agreed to deepen collaboration in key areas like advanced industries, hydrogen and other emerging energy sectors, and supply chain resilience. They also pledged to work together toward the success of APEC 2025 and the Osaka-Kansai Expo and to actively leverage both Korea-Japan and Korea-U.S.-Japan cooperation platforms. In the meeting with Budi Santoso, Indonesia’s Minister of Trade, Trade Minister Cheong emphasized that more than 2,000 Korean companies are currently operating in Indonesia, requesting the Indonesian government’s support in resolving challenges faced by Korean firms including local certification and import restriction issues so as to ensure stable business operations. Meanwhile, Korea’s Deputy Minister for Trade Park Jong-won met with Ian McKay, Canada’s Special Envoy for the Indo-Pacific and Ambassador to Japan, to discuss ways to expand Korea-Canada cooperation in celebration of the 10th anniversary of the two countries’ bilateral FTA and to address support for Korean companies operating in Canada. He also met with Claudia Sanhueza Riveros, Chile’s Undersecretary for International Economic Relations, to review progress on the Korea-Chile FTA upgrade negotiations and to request the Chilean government’s support for Korean companies seeking to participate in Chile’s lithium development projects. Trade Minister Cheong stated that the bilateral talks with 14 Asia-Pacific economies’ trade leaders and the WTO Director-General have helped to promote the sharing of insights on global developments and trade response measures, while also advancing close cooperation on key issues such as building resilient critical minerals supply chains, expanding trade networks, and addressing challenges faced by Korean companies operating overseas. He added that the ministry will strive to mitigate trade uncertainties and external risks based on the newly gained insights and strengthened intraregional cooperation.   date2025-05-19