Ministry of Trade, Industry and Energy

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

Czech nuclear reactor project localization agreement ceremony

Korea’s Trade, Industry and Energy Minister Dukgeun Ahn attended the Czech nuclear reactor project localization agreement ceremony on May 7 in Prague with Czech Minister of Industry and Trade Lukáš Vlček and other leaders of both countries' governments and businesses. date2025-05-09

41st APEC Automotive Dialogue launches on Jeju Island

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that the 41st APEC Automotive Dialogue (AD) will convene through May 9–10 at the International Convention Center Jeju (ICC Jeju) on the sidelines of the APEC Second Senior Officials’ Meeting and Related Meetings (SOM2). The APEC AD is a public-private forum for the sharing of major policy issues and industrial trends among APEC members’ governments and auto industries to seek measures for cooperation. Launched in 1999, it serves as APEC’s major communication channel on diverse automotive areas spanning electric mobility, autonomous driving, and trade. As Korea is the chair of APEC 2025, MOTIE and the Korea Automobile Manufacturers Association (KAMA) are co-chairs of this year’s AD, held with the participation of 16 member economies including Chile, China, Japan, and the U.S. Key agendas address automobile industry and market trends, EV transition, autonomous driving and AI technology, and future mobility. During the event, Korea will present on core issues with regard to future mobility transition including EV architecture innovation, battery recycling, hydrogen mobility and fuel cell technology, and purpose-built vehicles (PBVs). It is anticipated that the discussions will strengthen cooperation among member countries and facilitate exchanges on industrial technologies and policy trends.   date2025-05-09

MOTIE holds APEC Sustainable Supply Chain Forum

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is hosting the APEC Sustainable Supply Chain Forum today at the International Convention Center Jeju (ICC Jeju) to seek strategic measures at the APEC-level to strengthen global supply chain sustainability and resilience through sharing of public-private cooperation measures with the participation of the APEC Committee on Trade and Investment (CTI) and various experts representing APEC members’ governments, industries, and research institutions. The forum consists of presentation sessions and a panel discussion. The first session addresses the conceptual transition of the supply chain’s focus from efficiency to sustainability and resilience. The second session introduces best practices against major challenges that private sectors face in the process of building sustainable supply chains. The third session covers strategic approaches for sustainable supply chain cooperation among APEC members. In the following panel discussion, participants will be exchanging views and concrete measures for cooperation on establishing global supply chains within the APEC region. Through this forum, MOTIE aims to lay down a foundation on which domestic companies can preemptively respond to realignments in the global supply chain based on sustainability and resilience. Forum outcomes will also be incorporated in developing future policy directions.   date2025-05-09

U.S. CEBA officially joins CFE Initiative

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced today that the Clean Energy Buyers Association (CEBA) officially declared its participation in the Carbon Free Energy (CFE) Initiative. CEBA is the largest U.S. organization representing clean energy customers, consisting of over 400 members including global tech giants like Apple, Microsoft, Amazon, and Google. On May 6 (local time) in Minnesota, U.S., the Carbon Free (CF) Alliance and CEBA entered a memorandum of understanding (MOU) for bilateral cooperation on the CFE Initiative. The MOU signing ceremony was held on the occasion of former IPCC chair and CF Alliance Chairman Hoesung Lee’s attending the CEBA Connect: 2025 Spring Summit, CEBA’s major annual event. With the signing of the MOU, CEBA will represent the U.S. private sector in participating in the CFE Global Working Group and joining the CF Alliance’s efforts to establish global CFE certification standards including the definition and scope of carbon-free energy as well as measures for verifying and certifying carbon credit. CEBA’s participation expands the CFE Global Working Group’s membership to seven, in addition to Korea, Japan, the United Arab Emirates (UAE), the Czech Republic, International Energy Agency (IEA), and the Clean Energy Ministerial (CEM). Based on this MOU, the CF Alliance and CEBA have agreed to closely cooperate across diverse areas with the aim of promoting the diffusion of carbon-free energy sources, through convening joint international conferences on an annual basis and engaging in technology and policy information exchanges. The CFE Initiative has so far gained the support of major countries and organizations such as Japan, the UK, France, and IEA. In October last year, it launched the CFE Global Working Group in which international public and private experts are currently taking part. A number of organizations like the United Nations (UN), IEA, and Asia-Pacific Economic Cooperation (APEC) have also expressed support, and consensus is growing across the international community on the need to harness various carbon-free energy sources. Companies at home and abroad are in support of the CFE Initiative as well, based on the grounds of it being relatively more inclusive, cost-effective, and technology-neutral compared to other similar initiatives. It is also considered more business-friendly with respect to scalability in developing countries and its recognition of Scope 1 emission reduction.   date2025-05-08

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

K-Humanoid Alliance driving new synergies across Korea’s robotics industry

Korea’s Ministry of Trade, Industry and Energy (MOTIE) announced on May 1 that the K-Humanoid Alliance (“Alliance”), launched April 10, is creating momentum for new collaboration dynamics across Korea’s robot industry ecosystem. Within three weeks of its launch, no less than four memorandums of understanding (MOUs) have been forged among participating firms, with discussions underway for multiple MOUs, purchase contracts, and joint technology development. Five domestic robot companies will be supporting the robot AI foundation model development by supplying humanoid robots to the Seoul National University Artificial Intelligence Laboratory (SNUAILAB) and more than 20 companies have already sought participation in the Alliance. On April 16, Rainbow Robotics and CJ Logistics sealed an MOU for joint development and commercialization of logistics robots. AeiROBOT, a multi-winner of international robotics competitions, also inked MOUs with POSCO E&C and HMD on April 16 and April 22, respectively, with plans to develop humanoid robots for construction sites and shipyards. Korea’s leading robot parts company ROBOTIS unveiled its AI humanoid walker robot during an MOU signing ceremony on April 25 with the Korea Integrated Logistics Association (KILA), signaling the firm’s entry into the humanoid robot business for automated logistics. Holiday Robotics, Blue Robin, and ROBROS are some of Korea’s robot companies engaged in ongoing discussions with major domestic manufacturers for deployment of robots at production sites. Cooperation is gaining traction between robot companies and AI experts. Rainbow Robotics, AeiROBOT, Holiday Robotics, ROBOTIS, and ROBROS are among the humanoid robot makers in Korea that plan to provide humanoid robots to SNUAILAB within this year. SNUAILAB and a group of AI experts are aiming to secure robot behavior data from these humanoid robots to conduct AI model testing and develop a general-purpose robot foundation model.  Collaboration between robot parts manufacturers and robot companies is also picking up speed. Wonik Robotics, Faraday Dynamics, and ROBOTIS are some of Korea’s robot parts makers actively involved in cooperation to develop core humanoid robot components such as robotic hands, actuators, and decelerators for joint participation in MOTIE’s R&D projects. On the occasion of the newly launched Alliance, MOTIE intends to support over 10 joint R&D projects over a five-year period to catalyze collaboration between parts makers and robot firms in view of the essential need for specialization in developing high-quality humanoid robots and securing mass production capacity. With over 20 companies seeking to join the Alliance, a humanoid fund slated for launch during the second half of this year is also receiving heated interest from the financial sector. In the near future, MOTIE plans to hold an inaugural meeting to establish rules and stipulate the assigning of different roles and collaboration measures among participants to facilitate the Alliance’s organized operation. Rules will include various guidelines concerning new membership procedures, robot AI development, joint simulator development, funding, regular exhibitions, and talent training.   date2025-05-02

Korea’s exports gain 3.7% in April

The Ministry of Trade, Industry and Energy (MOTIE) announced on May 1 that Korea’s exports for April 2025 increased 3.7 percent year-on-year to USD 58.2 billion and imports decreased 2.7 percent to $53.3. billion, the trade balance netting a surplus of $4.9 billion. April exports logged historic highs for the month, maintaining an upward trajectory for the third month running. By item, seven out of 15 major export items saw growth. Semiconductors achieved an all-time high for the month with $11.7 billion (up 17.2 percent) as 8gb DDR4s’ fixed price rebounded for the first time in 12 months and robust demand for high-bandwidth memory chips (HBMs) continued. Wireless communication devices shot up 26.5 percent to $1.5 billion and kept up the growth momentum for the third consecutive month, led by the solid performance of smartphones (up 61.1 percent to $0.4 billion). Bio-health (up 14.6 percent to $1.4 billion) recorded the highest for the month as biopharmaceuticals soared 21.8 percent to $0.9 billion. Steel exports ended their four-month losing streak with $3.0 billion (up 5.4 percent) and secondary batteries snapped the 16-month decline with $0.7 billion (up 13.7 percent). Ship exports surged 17.3 percent to $2.0 billion, advancing for the second month in a row. Meanwhile, automobile exports dipped 3.8 percent but still reached this year’s new high at $6.5 billion. Conventional gasoline-powered vehicles and electric vehicles (EVs) faltered, while hybrid electric vehicles (HEVs) carried forward their strong growth momentum for the 14th consecutive month. Car parts exports gained 3.5 percent to $2.0 billion, turning to an expansion for the first time this year. Agricultural products attained fresh highs (up 8.6 percent to $1.1 billion) and cosmetics (up 20.8 percent to $1.0 billion) renewed their April monthly highs on the backs of the global popularity of K-food and K-beauty products. Exports of electrical devices were driven by transformers and power cables, setting record highs of $1.4 billion (up 14.9 percent). By region, Korea’s exports expanded to seven out of nine major overseas markets in April. China-bound exports grew 3.9 percent to $10.9 billion as semiconductor exports rebounded and wireless communication devices posted double-digit growth. To ASEAN, exports rose 4.5 percent to $9.4 billion with semiconductors and steel products at the helm. EU-bound exports secured unprecedented highs of $6.7 billion (up 18.4 percent) as automobiles and bio-health both hiked by double digits. Exports to India climbed 8.8 percent to an all-time high of $1.7 billion for the month, fueled by semiconductors, general machinery, and steel products. Exports to Latin America turned positive with $2.6 billion (up 3.9 percent). To the Middle East and CIS countries, exports increased for the third and second consecutive month, respectively, with $1.7 billion (up 1.6 percent) and $1.2 billion (up 37.2 percent). U.S.-bound exports shrank 6.8 percent to $10.6 billion despite strong demand for petroleum products, secondary batteries, and wireless communication devices as shipments of automobiles and general machinery contracted. In April, Korea’s energy imports declined 20.1 percent to $10.0 billion as imports of crude oil (down 19.9 percent) and gas (down 11.4 percent) diminished. Non-energy imports grew 2.4 percent to $43.4 billion.   date2025-05-02

Korea’s retail industry grows 9.2% in March

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry climbed 9.2 percent year-on-year in March 2025, with offline sales falling 0.2 percent and online sales advancing 19.0 percent. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four super supermarket (SSMs) operators. The remaining 10 are online retailers. A decline in consumer sentiment affected offline categories like fashion and home appliances, reducing sales at hypermarkets (down 0.2 percent) and department stores (down 2.1 percent). Meanwhile, sales at convenience stores (up 1.4 percent) and SSM operators (up 3.6 percent) increased due to their convenience in shopping local for small purchases. With the exception of food products (up 3.4 percent), hypermarkets slowed in most sales categories including home appliances/culture (down 20.2 percent), clothing (down 5.7 percent), and home/living (down 3.7 percent). Department stores likewise saw sluggish sales in all categories aside from food products (up 3.5 percent), experiencing downticks in foreign designer labels (down 2.7 percent), household goods (down 2.2 percent), miscellaneous goods (down 3.8 percent), and kids/sports (down 1.6 percent). Convenience stores and SSMs, on the other hand, enjoyed growth across both food and non-food categories. Online retail sales surged 19.0 percent, the second steepest rise since April 2024 (up 19.5 percent). Food products (up 19.4 percent) and service/other (up 78.3 percent) led the climb, driven by heightened online delivery services and demand for food delivery and e-coupons. In contrast, fashion/clothing (down 4.7 percent) and sports (down 10.1 percent) continued to slow.  Meanwhile, back-to-school demand fueled sales for home appliances/consumer electronics (up 7.8 percent) for the second consecutive month. Cosmetic products (up 7.5 percent) also maintained growth based on wider online demand.   date2025-04-29

Trade Minister meets Costa Rica's Minister of Foreign Trade

Korea’s Minister for Trade Inkyo Cheong met Costa Rica's Minister of Foreign Trade Manuel Tovar today for discussions on measures to invigorate the two countries’ comprehensive economic cooperation. date2025-04-28