Ministry of Trade, Industry and Energy

57th Korea-Japan Business Conference preliminary talks

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn, on May 26 in Seoul, chaired the preliminary talks held on the margins of the 57th Korea-Japan Business Conference with the participation of both countries’ business leaders and led discussions on measures for the two countries’ sustainable growth and development.  date2025-05-27

Korea and Japan’s business leaders expand economic cooperation

Korea’s Minister for Trade Inkyo Cheong attended the 57th Korea-Japan Business Conference today in Seoul, co-organized by Korea’s Ministry of Trade, Industry and Energy (MOTIE), Korea-Japan Economic Association, Japan-Korea Economic Association, and the Japan-Korea Industrial Technology Co-Operation Foundation in commemoration of the 60th anniversary of the two countries’ normalization of diplomatic relations.  Since launched in January 1969 following the normalization of relations in 1965, the Korea-Japan Business Conference has served as a major platform for bilateral consultation in advancing the two countries’ economic cooperation. In his congratulatory message, Trade Minister Cheong expressed gratitude to both countries’ business leaders for their commitment to economic cooperation over the past 60 years and proposed that the two countries’ governments and business leaders work together in setting new milestones to open a new chapter of cooperation for the next 60 years.  Noting the increase of global trade uncertainties, Trade Minister Cheong stated that joint efforts will be made for trade collaboration through close intergovernmental communication, while also providing strong support towards expanding the scope of bilateral economic cooperation in supply chain stabilization, transition to carbon-free and new energy sources, as well as joint entry into Global South and other third countries. Moreover, he asked that the business leaders actively leverage Korea and Japan’s hosting of international events like APEC 2025 and the Osaka-Kansai World Expo. In accordance with this year’s conference theme of broader and deeper Korea-Japan cooperation, the two countries’ economic groups discussed joint measures in establishing and building trust, enhancing economic partnerships in carbon neutrality, AI, semiconductors, bio, and supply chains, utilizing the FTA network, and boosting people-to-people exchanges. They also agreed to further cooperation in these areas going forward.   date2025-05-27

Korea leads tabletop exercise with IPEF partners to enhance crisis response capacity to supply chain disruptions

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced that Korea, as the Chair of the Indo-Pacific Economic Framework for Prosperity (IPEF) Crisis Response Network (CRN), is holding a virtual supply chain emergency tabletop exercise today to strengthen cooperation among IPEF partners in responding to supply chain disruptions and enhance their capacity for swift and coordinated joint response. The tabletop exercise simulates a scenario in which partner “Country A” experiences a shortage of therapeutic agents amid an outbreak of an unidentified acute respiratory infection and requests that CRN Chair Korea convene an emergency meeting to assist with the supply of therapeutic agents. Through the simulation, IPEF partners aim to assess the infection’s impact on the intraregional supply chain and explore cooperative measures for mutual support. As the second tabletop exercise following last year’s, today’s simulation is designed not only to more accurately replicate a real emergency situation—reflecting input from the pharmaceutical supply chain experts and partner countries—but also to involve the participation of ministries overseeing pharmaceuticals in order to maximize the effectiveness of the exercise. On the sidelines of the virtual tabletop exercise, Korea and Australia will introduce to IPEF partners the details of their joint supply chain capacity building project. The two countries plan to provide tailored education on supply chain management and crisis response policymaking to reinforce IPEF partners’ supply chain crisis response capacity. They will also be sharing best practices and discussing ways to improve CRN operations. MOTIE plans to launch an in-person CRN tabletop exercise in the second half of this year, while actively pushing the Korea-Australia IPEF supply chain capacity building project forward.   date2025-05-22

Trade Minister meets Mexico's Undersecretary of Foreign Trade

Minister for Trade Inkyo Cheong met with Mexico's Undersecretary of Foreign Trade Luis Rosendo Gutiérrez Romano on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting and discussed bilateral economic cooperation. date2025-05-15

Korea and Philippines sign MOU for trade, energy, and economic cooperation

Minister for Trade Inkyo Cheong held an MOU signing ceremony with Philippine Trade and Industry Secretary Maria Cristina Aldeguer-Roque on May 14 at ICC Jeju on the occasion of the 2025 APEC MRT Meeting for bilateral cooperation in trade, economy, and energy. date2025-05-15

Korea and ASEAN think tanks lay out blueprint for trade and economic cooperation

Korea’s Minister for Trade Inkyo Cheong attended the first ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy (AKTD) today on Jeju Island, held with the participation of approximately 100 representatives from Korean and ASEAN major think tanks, the ASEAN Secretariat, Economic Research Institute for ASEAN and East Asia (ERIA), the Asia Foundation, Yonsei University, and the Korea-Southeast Asia Policy Cooperation Center. AKTD is the first economic and trade cooperation project launched after the elevation of ROK-ASEAN diplomatic relations to a comprehensive strategic partnership on the occasion of the 25th ROK-ASEAN Summit convened last October in Vientiane, Lao PDR. It is also a ROK-ASEAN policy research platform for uncovering sustainable economic cooperation projects and supporting ASEAN members’ policy capacity building. Today’s first AKTD conference is significant in that Korea and 10 ASEAN think tanks gathered to establish a systematic policy dialogue channel for joint ROK-ASEAN efforts in economic and trade policy cooperation going forward. Noting that ASEAN is Korea’s third largest trading partner and second largest foreign direct investment (FDI) destination, Trade Minister Cheong stated in his welcoming message that the two sides have continued to strengthen their mutually beneficial cooperation in trade and economic areas. In view of ROK-ASEAN relations having advanced to a comprehensive strategic partnership, he expressed anticipation for the AKTD to develop into a signature project for ROK-ASEAN policy cooperation in effectively uncovering and launching joint projects. During the forum session, Korea Institute for Industrial Economics & Trade (KIET) President Namhoon Kwon gave a keynote speech on the role of think tanks for national development, followed by speakers from ERIA, the Institute of Malaysian and International Studies (IKMAS), and the Korea Institute for International Economic Policy (KIEP), who presented on the trade and economic development strategies of ASEAN. A panel discussion took place after the presentations, chaired by the Asia Foundation’s Korean representative Kyungjin Song. IKMAS Director Sufian Jusoh welcomed the AKTD’s launch, ensuring IKMAS’ active participation and support for AKTD’s joint research projects and other events this year. In the subsequent roundtable session, participants discussed the basic future directions for the operation of AKTD and officially adopted the “Operational Guidelines for the AKTD” signed by KIET and nine ASEAN think tanks. The above guidelines are expected to serve as a critical foundation for the establishment of AKTD as a sustainable cooperative platform that can contribute to ASEAN’s economic development policies. Korea’s Ministry of Trade, Industry and Energy (MOTIE) will be reporting the joint research outcomes of AKTD at the 22nd ASEAN Economic Ministers (AEM)-ROK Consultation slated for this September in Malaysia, while also making preparations for a follow-up conference through close cooperation with the ASEAN chair country and the ASEAN Secretariat.   date2025-05-14

「Korea-Uzbekistan Insight Forum」 co-hosted by MOTIE & Uzbekistan Embassy to Korea

  The Ministry of Trade, Industry and Energy of the Republic of Korea (Minister Dukgeun Ahn) and the Embassy of the Republic of Uzbekistan in Korea (Ambassador Alisher Abdusalomov) co-hosted the Korea-Uzbekistan Insight Forum at the Embassy of Uzbekistan in Korea on Tuesday, May 13.   This forum, joined by the two governments and representatives from relevant institutions, was prepared to review the progress of ongoing bilateral cooperation projects and devise ways to further enhance economic collaboration between the two countries.   Participants agreed on the significance of the relationship between Korea and Uzbekistan as Special Strategic Partners, and emphasized the need for practical cooperation around new industries including supply chains, energy, infrastructure, and advanced technologies, in addition to mutual trade and investment.   Jongchul Kim, Director General of the Bureau of International Trade Relations, stated that given the rapidly changing global trade environment, we will continue to build a future-oriented cooperation framework between our two countries to review our economic partnership and achieve tangible outcomes. Concurring with DG Kim, Ambassador Abdusalomov suggested developing a Joint Long-Term Strategic Program for High-tech and Innovative Partnership. This program would encompass key sectors such as critical mineral resources, semiconductors, chemical industry, automotive production, smart agriculture, infrastructure and urban development, and green energy. Furthermore, the Uzbek ambassador emphasized the importance of continuing the implementation of joint ODA projects focused on strengthening Uzbekistan’s industrial capacities. These initiatives are expected to create opportunities for Korean companies to strengthen and expand their participation in regional and global supply chains.   The Korean and Uzbek governments will actively utilize their cooperation platforms such as 「the Korea-Uzbekistan Joint Committee on Trade and Economy」, and enhance policy communication and collaboration across a wide range of sectors going forward. date2025-05-13

Minister Ahn meets Czech Prime Minister Petr Fiala

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Czech Prime Minister Petr Fiala on May 7 in Prague with both countries’ government delegations and discussed cooperation in industry, energy, construction, infrastructure, and science technology. date2025-05-09

Korea and Saudi Arabia broaden cooperation to new and cutting-edge industries

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is sponsoring the Korea-Saudi Business and Investment Forum launched today in Seoul. The forum is anticipated to catalyze economic cooperation between the two countries across new and cutting-edge areas like digital, advanced manufacturing, clean energy, healthcare, and culture. Part of an aim to strengthen Korea-Saudi partnership in line with the Saudi Vision 2030, the forum brings together 250 business leaders of both countries to seek collaboration and tangible opportunities around promising new industries such as IT, advanced manufacturing, clean energy, special zone development, healthcare, and entertainment. Participating in today’s event are a total of 120 Korean and Saudi companies including Saudi Telecom Company (stc), Saudi Arabian Military Industries (SAMI), and Saudi’s first EV manufacturer Ceer, as well as Korean firms either engaged in ongoing cooperation with Saudi partners or seeking new business opportunities. Deputy Minister for Trade Park Jong-won attended the forum and gave a congratulatory message, stating that the Korean government will actively leverage intergovernmental cooperation channels while also advancing efforts for the Korea-GCC FTA’s swift entry into force to expand the scope of business cooperation between the two countries.   date2025-05-09

Korea and Czech Republic deepen comprehensive economic cooperation

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn held talks with Czech Prime Minister Petr Fiala and President of the Senate Miloš Vystrčil, respectively, on May 7 on the occasion of the visit to the Czech Republic made by Korea’s special delegation composed of government delegates and National Assembly representatives. The two sides discussed measures for comprehensive economic cooperation and entered a total of 14 memorandums of understanding (MOUs) in nuclear energy and high-tech industry areas. First, Minister Ahn and the government delegation visited Czech Prime Minister Fiala to discuss wide-ranging cooperation across industries, energy, construction, infrastructure, and science technology. In the presence of Prime Minister Fiala, Minister Ahn and Czech Minister of Industry and Trade Lukáš Vlček signed a Korea-Czech nuclear reactor cooperation arrangement, building on the MOU forged previously in September 2024. The two countries’ governments will be making joint effort for the success of the Dukovany power plant project as well as collaboration on the additional order of two reactor units and Korea-Czech joint entry into third countries. Minister Ahn and Minister Vlček also inked a Korea-Czech battery cooperation MOU for stronger joint response going forward regarding the EU Battery Regulation. Furthermore, Minister Ahn and Minister Vlček discussed cooperation in nuclear energy and high-tech industry areas including batteries and automobiles. In the presence of both ministers, Korea Hydro & Nuclear Power (KHNP) and other members of Team Korea sealed 10 MOUs with Czech companies for cooperation on the Czech nuclear reactor project. In addition to widening the scope of collaboration in nuclear energy, Korea and the Czech Republic are also aiming to deepen strategic cooperation in high-tech industries. In line with implementing the Vltava Advanced Industries Cooperation Vision announced on September 20, 2024, the two sides signed a letter of agreement on the establishment of an automotive cooperation center and a robotics cooperation center, raising anticipation for enhanced collaboration in R&D, talent training, and demonstration projects. Meanwhile, Korea’s National Assembly members and government delegates met Czech President of the Senate Miloš Vystrčil for lawmaker-level discussions on extensive cooperation between the two countries in areas spanning nuclear reactors, high-tech industries, energy, and construction. In view of this year marking the 35th anniversary of diplomatic ties and the 10th anniversary of the strategic partnership between Korea and the Czech Republic, Minister Ahn noted that the two countries have further solidified their trust relationship and stated that efforts will be made to closely communicate with the Czech authorities so as to finalize the new reactor contract as soon as possible.   date2025-05-08