Ministry of Trade, Industry and Energy

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

Minister Ahn awards companies at 22nd Automotive Day

Korea’s Minister of Trade, Industry and Energy attended the 22nd Automotive Day on May 14 in Seoul with the participation of 200 industry representatives and awarded 34 medals and orders of merit including the Silver Tower Order of Industrial Service Merit, which went to Anjun Industrial Co. for its contribution to the mass production of Korea’s first hybrid vehicle hollow stem valve. date2025-05-15

Trade Minister meets Philippine Trade and Industry Secretary

Minister for Trade Inkyo Cheong held bilateral talks 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 and discussed APEC outcomes and measures to invigorate Korea-Philippine trade and investment. date2025-05-15

Trade Minister attends 1st ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy

Korea’s Minister for Trade Inkyo Cheong attended the first ASEAN-ROK Think-tank Dialogue on Economic and Trade Policy (AKTD) on May 14 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. date2025-05-15

Minister Ahn attends 2025 Osaka-Kansai World Expo

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn attended the “Korea Day” events at the 2025 Osaka-Kansai World Expo on May 13 with both governments’ delegations and business leaders, where he gave an opening address and visited the Korea Pavilion and other major exhibition booths.  date2025-05-15

Global trade leaders gather on Jeju Island for 2025 APEC MRT Meeting

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is holding the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting from May 15–16 at the International Convention Center Jeju (ICC Jeju). As Korea is resuming APEC chairmanship in 20 years since 2005, Minister for Trade Inkyo Cheong is chairing the MRT meeting with the participation of trade ministers from 21 major economies in the Asia-Pacific region, including Australia, Canada, Chile, China, Japan, and the U.S., as well as the WTO Director-General and the OECD Deputy Secretary-General. Amid the rapidly shifting global trade environment, this year’s APEC MRT meeting is the trade ministers’ first official gathering for multilateral cooperation. Discussions will cover various trade issues and intraregional cooperation measures, such as the liberalization and facilitation of trade and investment. In line with the 2025 APEC theme of “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” the MRT meeting consists of three sessions on the following topics: AI innovation for trade facilitation, connection through multilateral trade, and prosperity through sustainable trade.  In the first session, participants address wide-ranging measures for cooperation to catalyze AI utilization in trade areas such as AI application and standard information sharing in the field of tariffs and customs, with OECD Deputy Secretary-General Yoshiki Takeuchi as the keynote speaker. The second session focuses on WTO reform and role of APEC in restoring the multilateral trade system, with WTO Director-General Ngozi Okonjo-Iweala speaking on WTO reform and future cooperation for multilateral trade. The last session on prosperity through sustainable trade, to convene on May 16, will have participants exchange views on measures for joint efforts in establishing a sustainable supply chain, including climate crisis response. In his opening message, Trade Minister Cheong noted the current difficult external environment surrounding APEC and stated that the need for APEC is greater than ever considering the severe global trade situation. He further expressed hope that this MRT meeting will serve as a platform for communication and cooperation that contributes to resolving political and economic tensions and uncertainties that the world is facing today.   date2025-05-15

Korea’s ICT exports grow 10.8% in April

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports of information and communications technology (ICT) goods for the month of April 2025 gained 10.8 percent year-on-year to USD 18.9 billion, while imports inched down 2.4 percent to $11.3 billion. The trade balance netted a surplus of $7.6 billion. Despite global trade uncertainties, April ICT exports saw solid growth momentum overall with semiconductors (up 17.2 percent to $11.7 billion) hitting all-time highs for the month. Mobile phones (up 28.6 percent) and communication devices (up 3.5 percent) likewise advanced, whereas exports of displays (down 7.6 percent) and computers/peripherals (down 11.9 percent) retreated. The growth of semiconductor exports is attributable to the rebound in fixed prices of DRAMs and heightened demand for high value-added chips like HBMs and DDR5s. Mobile phones maintained an upward trajectory powered by finished products’ export recovery and robust demand from overseas parts manufacturers. Communication device exports advanced on the backs of strong demand for automotive and 5G equipment.  Meanwhile, display exports shrank due to slower demand and an ensuing change in the shipment schedule. Computers/peripherals experienced a temporary slowdown in demand from increased inventory levels, exports turning to a contraction for the first time in 16 months. By region, Korea’s April ICT exports expanded to the U.S. (up 0.5 percent), Vietnam (up 13.4 percent), the EU (up 14.7 percent), and Japan (up 8.5 percent), whereas those to China (including Hong Kong) (down 1.5 percent) slid.   date2025-05-14

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

Korean culture and technology capture global attention at 2025 Osaka-Kansai World Expo

Korea’s Ministry of Trade, Industry and Energy (MOTIE), Ministry of Culture, Sports, and Tourism (MCST), Ministry of Foreign Affairs (MOFA), Ministry of Agriculture, Food, and Rural Affairs (MAFRA), and the Korea Heritage Service (KHS) announced that the five-day Korea Week (May 13–17) takes off today at 2025 Osaka-Kansai World Expo, starting with Korea Day. Approximately 350 visitors attended the Korea Day event launched today, including a total of 30 government officials and business leaders of both countries. The Korea Day event consisted of a series of programs celebrating the history of Korea-Japan exchanges, kicking off with a reenactment of the Joseon Tongsinsa procession commemorating the port entry of the ship that carried diplomatic envoys from the Joseon Dynasty into Osaka. The Joseon Tongsinsa was the Joseon Dynasty’s delegation for bilateral exchanges in the 17–19th century, and related archives have been jointly registered by the two countries on the UNESCO Memory of the World Register in 2017. The Korea-Japan government officials and business leaders also visited the Japan Pavilion and Korea Pavilion. With the theme “Between Lives,” the Japan Pavilion consists of a Plant Area, Farm Area, and Factory Area showcasing the utilization of Japan’s cutting-edge technology in waste decomposition, recycling, and circular economy. The Korea Pavilion was themed “With Hearts,” expressing the harmony of advanced technology and culture through AI, hydrogen fuel cells, and K-Pop to illustrate environmental recovery and intergenerational connection. Since its opening on April 13, the Korea Pavilion has drawn roughly 350,000 visitors and is rated as one of the most popular national pavilions at the Expo. Next, the government and business leaders attended major sideline events like the Korea Tourism Festa and K-Food Fair. A booth was also set up to promote top Korean products with the participation of 90 Korean firms and 160 Japanese buyer companies in the form of B2B and B2C marketing exhibition, displaying a wide range of cosmetics and daily necessities produced by Korean SMEs as well as IT home appliances and mobility products of Samsung Electronics and Hyundai Motor, providing visitors the opportunity to use and experience the various products firsthand. MOTIE Minister Dukgeun Ahn stated that global interest in the Korean lifestyle and culture is leading to preference for Korean products and technology, creating a virtuous cycle. He added that utmost efforts will be made to achieve synergy based on the Expo experience so that Korea’s strengths in these diverse areas can translate into competitiveness at the national level. Held as the last official program, the Korea-Japan Friendship Dinner was attended by around 100 key figures of both countries to wish success for the 2025 Osaka-Kansai World Expo.   date2025-05-13

「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