Ministry of Trade, Industry and Energy

MOTIE Holds Energy Super Week Briefing for Foreign Embassies in Korea

Korea’s Ministry of Trade, Industry and Energy (MOTIE) held a briefing for foreign embassies in Korea on the upcoming Energy Super Week (Aug. 25–29) today in Seoul outlining the event’s main programs and the newly elected administration’s energy policy directions, requesting the foreign embassies’ interest and support. The briefing was attended by 43 foreign embassies in Korea including those of Japan, the EU, the UK, and Vietnam. Four major events are lined up for Energy Super Week in Busan: the APEC Energy Ministerial Meeting (Aug. 27–28), 16th Clean Energy Ministerial (Aug. 25–27), 10th Mission Innovation (MI) Ministerial (Aug. 25–27), and 2025 World Climate Industry EXPO (Aug. 27–29). Energy ministers, government delegations, and business leaders of 40 member economies, as well as relevant international organizations, will be gathering to discuss future energy outlooks and solutions. The APEC Energy Ministerial Meeting will cover key agendas such as power grid infrastructure, energy security, stable power supply, and AI-powered energy innovation. At the 16th Clean Energy Ministerial, participants will discuss issues like energy efficiency, power transition, future fuels (hydrogen), energy and AI, and carbon reduction technologies.  Near the end of August, MOTIE will co-host 2025 World Climate Industry EXPO with the International Energy Agency (IEA) and World Bank (WB) on the theme of “Energy for AI & AI for Energy,” featuring speakers like IEA Executive Director Fatih Birol and WB Vice President Manuela Ferro. The program consists of three major summits — the Global Leadership Summit, the Energy & AI Summit, and the Climate Summit — alongside 12 specialized conferences and sideline events, including recruitment sessions and trade consultations. Visitors can also experience the latest and future technologies in areas of climate and energy at various booths set up by Samsung, LG, Doosan Enerbility, Hanwha Qcells, and other global companies.   date2025-07-08

FDI Arrivals to Korea Rise 2.7% in H1 2025

The Ministry of Trade, Industry and Energy (MOTIE) announced today that foreign direct investments (FDIs) pledged to Korea in the first half of 2025 (Jan-Jun, acc.) decreased 14.6 percent year-on-year to USD 13.1 billion, while FDIs that actually arrived in Korea over the same period rose 2.7 percent to $7.3 billion. By type, greenfield and M&A investment pledges declined 4.5 percent and 44.6 percent to $11.0 billion and $2.1 billion, respectively. In contrast, greenfield and M&A investment arrivals rose 4.4 percent and 0.2 percent to $4.5 billion and $2.8 billion, respectively, as investments expanded for service businesses like datacenters and hypermarkets. By region, FDI pledges flowing in from the EU increased 14.5 percent to $2.2 billion. Those from the U.S. rose 20.2 percent to $3.1 billion, led by the retail and service sector. Meanwhile, pledges from Japan (down 25.4 percent to $2.2 billion) and China (down 39.0 percent to $1.8 billion) dropped. By industry, FDI pledges for the manufacturing sector fell 34.5 percent to $5.3 billion as categories like electrical and electronics (down 61.6 percent to $1.4 billion) and machinery and precision medical devices (down 77.0 percent to $0.3 billion) were affected by global trade uncertainties and a reduction in domestic facility investments. The service sector saw pledges rise 10.6 percent to $7.1 billion, led by categories like retail (up 73.3 percent to $1.3 billion) and information and communications (up 9.4 percent to $1.1 billion).   date2025-07-03

Korea and China Hold 3rd Supply Chain Hotline Meeting

Director General for International Trade Relations Kim Jong-chul at the Ministry of Trade, Industry and Energy of Korea and Director General of the Department of Asian Affairs Wang Liping at the Ministry of Commerce of China led their respective delegations in the third Korea-China supply chain hotline meeting today in Seoul. Launched in 2023, the Korea-China supply chain hotline meeting is a consultative channel for cooperation between the two countries to stabilize the bilateral supply chain. In the previous hotline meetings, both sides focused on stabilizing the bilateral supply chain. In today’s third meeting, the Korean delegation requested China’s interest and cooperation in facilitating Korean businesses’ imports of critical items from China. The two sides also discussed measures to foster a predictable business environment for Korean companies, including the Chinese government’s policy briefings in the second half of this year.   date2025-07-03

Korea’s exports grow 4.3% in June

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s exports and imports for the month of June 2025 advanced 4.3 percent and 3.3 percent year-on-year to USD 59.8 billion and $50.7 billion, respectively. The trade balance stood at a surplus of $9.1 billion. June exports and the daily average export value both hit all-time highs for the month, the latter increasing 6.8 percent to $2.9 billion when accounting for the number of working days (-0.5 compared to June 2024). By item, six out of 15 major items gained in exports. Semiconductors reached new highs at $15.0 billion (up 11.6 percent), maintaining the upward trajectory for the fourth consecutive month. Exports of computers and solid-state drives (SSDs) climbed 15.2 percent to $1.3 billion, expanding for the second straight month. Automobiles grew 2.3 percent to a fresh high of $6.3 billion for the month, as electric vehicles (EVs) enjoyed strong demand across the EU alongside robust growth of secondhand car exports (up 67.9 percent to $0.7 billion). This is the first time for Korea’s total automobile exports to enter the 6 billion thresholds for the fifth consecutive month. Bio-health hit record highs at $1.7 billion (up 36.5 percent) on the backs of biopharmaceuticals (up 54.0 percent to $1.1 billion). Ship exports surged 63.4 percent to $2.5 billion, advancing for the fourth consecutive month. Meanwhile, petroleum products (down 2.0 percent to $3.6 billion) and petrochemicals (down 15.5 percent to $3.4 billion) continued to slide in step with weak global oil prices. Aside from major items, agricultural and fishery products (up 7.7 percent to $1.0 billion), cosmetics (up 22.0 percent to $1.0 billion), and electrical equipment (up 14.8 percent to $1.6 billion) all logged unprecedented highs for the month of June. By region, exports to seven out of nine major destinations saw growth. Exports to the U.S. and China inched down 0.5 percent and 2.7 percent, respectively, to $11.2 billion and $10.4 billion. To ASEAN, exports ended the monthly decline and rose 2.1 percent to $9.8 billion, driven by semiconductors, ships, and steel products. Exports to the EU (up 14.7 percent to $5.8 billion) posted growth for the fourth consecutive month, led by automobiles, car parts, ships, and petroleum products. India-bound exports improved 2.3 percent to $1.6 billion, a record high for the month. To CIS countries, exports soared 18.5 percent to $1.1 billion, increasing for the fourth consecutive month. Exports to Latin America (up 3.3 percent to $2.4 billion), Japan (up 3.0 percent to $2.5 billion), and the Middle East (up 14.8 percent to $1.9 billion) all resumed growth. In addition, exports to Taiwan jumped 31.0 percent to $4.3 billion, setting historic highs for June. As for imports, non-energy items hiked 7.9 percent to $42.2 billion, whereas energy imports declined 14.6 percent to $8.6 billion.  Korea’s exports for the first half of 2025 remained relatively flat year-on-year at $334.7 billion (down 0.03 percent) and the daily average export value, accounting for the number of working days, gained 2.3 percent to $2.6 billion. Imports contracted 1.6 percent to $306.9 billion and the trade balance netted a surplus of $27.8 billion (up $4.8 billion year-on-year). Five out of 15 major items led the increase during the first half, namely semiconductors (up 11.4 percent to $73.3 billion), wireless communication devices (up 8.5 percent to $7.5 billion), computers (up 12.6 percent to $5.9 billion), ships (up 18.8 percent to $13.9 billion), and bio-health (up 11.0 percent to $8.2 billion). Notably, semiconductors surpassed previous first-half highs, powered by solid demand for high value-added products like DDR5s and HBMs as well as the rebound in fixed prices of key memory chips.   date2025-07-01

Korea Trade Commission holds 461st meeting

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) held the 461st KTC meeting today at the Government Complex Sejong for deliberation and resolution on anti-dumping investigations. Regarding the investigations initiated last September on Chinese stainless steel plates, the KTC gave the determination that dumped imports of these products have caused material injury to the domestic industry and decided to propose a five-year anti-dumping duty of 21.62% to Korea’s economy and finance minister. The said products are currently subject to a provisional anti-dumping duty of 21.62%, effective since March 2025. The KTC also held a public hearing on domestic industries’ injury from dumped imports of Chinese sodium dithionite and Thai particle boards, for which anti-dumping investigations opened last December, to grant interested parties sufficient opportunity to make statements and ensure their rights of defense prior to the final determination. Chinese sodium dithionite is currently subject to a provisional anti-dumping duty ranging from 15.15% to 33.97% (June 21–October 20, 2025). As for Thai particle boards, the provisional duty of between 11.82% and 17.19% proposed by the KTC is under review by the Ministry of Economy and Finance. Both said products await final determinations in the latter half of this year following domestic and overseas due diligence procedures.   date2025-06-26

Korea’s retail industry grows 7.0% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry grew 7.0 percent year-on-year overall during the month of May 2025, with offline and online sales gaining 0.9 percent and 13.0 percent, respectively. 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. By offline retail channel, sales at hypermarkets (up 0.2 percent) and department stores (up 2.3 percent) posted growth for the first time since the Seollal holiday season in January, led by high-priced items and increased revenue per visit. Convenience stores inched down 0.2 percent, whereas SSM operators (up 1.0 percent) maintained their upward trajectory for the third consecutive month, driven by the steady rise of visitors. By category, offline sales expanded in areas like food products (up 1.0 percent) and luxury goods (up 8.1 percent) such as jewelry and watches. In contrast, home appliances/culture (down 7.8 percent), kids/sports (down 2.5 percent), and fashion/miscellaneous (down 3.7 percent) experienced further slowdowns. As for online sales, services (up 37.3 percent) and food products (up 18.2 percent) retained solid growth on the backs of demand for food deliveries, e-coupons, travel packages, and cultural goods. However, fashion/clothing (down 4.6 percent) and sports (down 12.7 percent) continued their contraction.   date2025-06-25

Trade Minister Yeo visits Washington D.C. for high-level trade talks

Korea’s Minister for Trade Yeo Han-koo is making his first trip to Washington D.C. (starting June 22) since taking office to engage in ministerial-level Korea-U.S. consultations with key U.S. officials including U.S. Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick for discussions on U.S. tariff measures and mutually beneficial solutions. Moreover, Trade Minister Yeo will be conveying Korea’s stance on U.S. tariff measures to U.S. lawmakers while also requesting the U.S. Congress’ support in facilitating a stable and predictable environment for Korean businesses investing in the U.S. with regard to the “One Big Beautiful Bill Act,” which contains amendments to tax credits under the Inflation Reduction Act of 2022 (IRA). Trade Minister Yeo stated that he will give full measure to gain mutually beneficial outcomes through in-depth consultations between the two countries. In view of the two sides’ close economic and industrial integration, the trade minister highlighted that he seeks to expand the friendly foothold in the U.S. for Korean businesses on the occasion of this visit to support Korean companies’ business activities. Meanwhile, Korea’s Deputy Minister for International Trade and Investment Park Jung-sung is accompanying the trade minister to Washington D.C. to lead Korea’s recently launched task force (TF) on Korea-U.S. trade negotiations in the third round of technical discussions with U.S. Trade Representative Greer from June 24–26. In this round, the TF and relevant ministries will aim to reach mutually acceptable solutions on both sides’ issues of interest.   date2025-06-23

Korea set to localize 30% of CNC systems by 2032

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korean company KCNC succeeded in localizing computerized numerical control (CNC) systems, which play an instrumental role in processing the majority of Korea’s machinery and equipment.  CNC refers to the use of computerized systems to control the manufacturing process of high-precision parts such as cutting, milling, and pressing, and is mainly used in integration with manufacturing equipment for producing machinery. While CNC is a key part of the machine industry, the high level of difficulty required to develop such systems has resulted in 80 percent of the global CNC market being split among Germany, Japan, and the U.S. With KCNC’s successful development of a CNC system, related industries are anticipating a localization rate of at least 30 percent by 2032. It was in 2019 that plans for CNC development began emerging in earnest in Korea, a time when materials, parts, and equipment (MPE) supply chains started gaining recognition for their importance. The plans were also triggered by the apprehension that setbacks in CNC supply, the entirety of which Korea was dependent on imports, may halt production lines nationwide for the manufacturing industry. CNC development by individual companies comes with limitations as the process calls for the simultaneous development of various hardware and software technologies, including those needed to produce the main body, motor, and interface. Accordingly, MOTIE launched a project team led by the Korea Institute of Machinery & Materials with the participation of over 20 related companies, research institutes, and academic experts. As a result, KCNC was born in the form of a joint venture by participating companies for collaboration on technological development and commercialization. After five years of development, field operators and experts finally conducted an objective evaluation last month in which they assessed that the CNC system developed has reached a level of performance similar to that of other advanced countries’ CNC systems in terms of major performance indices, such as machining error and surface quality. Meanwhile, there still exists room for improvement with respect to features like interface user friendliness and availability of different functions. Korea currently relies on imports for 95 percent of its CNC supply and even the remaining five percent of domestic products require foreign technology. In this regard, the recent CNC system development is expected to substantially stabilize Korea’s manufacturing supply chains and spur significant economic benefits. It is estimated that localizing 30 percent of domestic and overseas CNC demand will create an economic effect of around KRW 200 billion, equivalent to approximately USD 146 million. Swift after-sales service and customized product development are some added merits of localization. Starting next month, KCNC will enter a one-year demonstration phase for commercialization to conduct tests on high-speed and repeated procedures, processing with various materials and tools, equipment durability, and field performance. Four major buyer companies, occupying over 90 percent of CNC systems demand, are to participate in the demonstration process. These companies have already submitted letters of intent for purchase to finalize their purchase agreements should demonstration results verify that the developed CNC systems fulfill certain qualifications. Once the demonstration phase is completed successfully, the localized CNC systems will be up for purchase beginning 2026, with relevant industries forecasting that the systems will reach over 30 percent in domestic market share by 2032.   date2025-06-18