Ministry of Trade, Industry and Energy

Korea and Netherlands launch Future Chips Academy 2025

The Ministry of Trade, Industry and Energy (MOTIE) and Korea Institute for Advancement of Technology (KIAT) are launching the Korea-Netherlands Future Chips Academy 2025 from June 16–20 in the Netherlands to boost bilateral exchanges in raising high-quality semiconductor talents. Now in its second year, the Future Chips Academy is a joint Korea-Netherlands education program based on the two countries’ semiconductor business cooperation offering a specialized course for the training of highly-skilled global talents in areas of cutting-edge chip technology. During this year’s exchanges, 50 students taking master’s and doctoral courses at semiconductor specialization graduate schools in Korea are visiting leading Dutch institutions and companies such as ASML, NXP Semiconductors, imec the Netherlands (IMEC), and Eindhoven University of Technology (TU/e) to take part in various programs, including lectures and a team project challenge. It is anticipated that these exchanges will help Korean chip talents enhance their understanding on advanced chip technology trends while also building up Korea’s semiconductor R&D capacity. This year’s Future Chips Academy includes an in-depth discussion session on the topic of future chips to seek relevant measures for bilateral R&D cooperation and education, as well as lectures at local companies given by experts on patterning technology and automotive chips. On the last day, the team project challenge will have students share what they have learned and propose creative ideas for semiconductor technology development. In the coming months of July and August 2025, Korea Advanced Institute of Science and Technology (KAIST) and the Korea Semiconductor Academy are slated to engage in exchange programs, respectively, with the Netherlands’ Eindhoven University of Technology and Delft University of Technology. In September, 30 top graduates of the Korea Semiconductor Academy will be given the opportunity to participate in a five-day education program in the Netherlands through which they can acquire practical knowledge in the field and broaden their scope of experience.   date2025-06-16

Korea’s ICT exports climb 9.6% in May

The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Science and ICT (MSIT) announced today that Korea’s exports and imports of information and communications technology (ICT) goods for the month of May 2025 advanced 9.6 percent and 0.5 percent year-on-year, respectively, to USD 20.9 billion and $11.5 billion. The trade balance stood at a surplus of $9.4 billion. It is significant that ICT exports reached record highs for the month in spite of recent global trade uncertainties. By item, exports of semiconductors (up 21.2 percent), mobile phones (up 2.8 percent), computers/peripherals (up 1.7 percent), and communication devices (up 10.2 percent) achieved gains, whereas those of displays declined (down 17.5 percent). Semiconductor exports rose as fixed prices of major items like DRAMs and NAND flash rebounded and high value-added memory chips like HBMs and DDR5s retained strong growth momentum. Mobile phones expanded on the backs of demand for finished smartphone products and computers/peripherals increased in step with revived demand for solid-state drives (SSDs). Exports of communication devices were driven by rising demand for automotive communication systems in the U.S. and 5G equipment in India. In contrast, displays were negatively affected by trade uncertainties and sluggish global demand. By region, Korea’s May ICT exports increased to destinations like the U.S. (up 7.2 percent), Vietnam (up 15.7 percent), EU (up 1.5 percent), and Japan (up 12.5 percent), while those to China (including Hong Kong) (down 6.8 percent) contracted. Meanwhile, the uptick in ICT imports was led by items like computers/peripherals (up 37.4 percent), powered by AI-driven demand for datacenter GPUs (up 51.1 percent) as well as midrange and mainframe computers (up 130 percent).   date2025-06-12

Korea Trade Commission holds Seoul International Forum on Trade Remedies 2025

The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) held the Seoul International Forum on Trade Remedies 2025 (“Seoul Forum 2025”) today at COEX in Seoul. Now in its 23rd year since the initial launch in 2001, Seoul Forum is the world’s exclusive international forum on trade remedies. This year’s event drew the participation of 150 persons composed of representatives and experts of trade remedies institutions from 11 economies around the world, including the U.S., EU, China, and Japan, as well as the World Trade Organization (WTO). The first and second session was each held under the theme of “Supply Chain Realignment and the New Challenge Facing Trade Remedies Institutions” and “Recent Trends in Trade Remedy Investigations: Cases and Tasks,” consisting of presentations and panel discussions among different countries’ trade remedies institutions. Furthermore, a technical committee meeting and a conference for the heads of trade remedies institutions served as platforms for cooperation and sharing of policies and actual investigation experiences. This year’s Seoul Forum saw its international status advance considerably as participating countries held 29 bilateral meetings on the sidelines, with Seoul Forum itself drawing the attendance of numerous high-level officials including Frédéric Seppey, Chairperson of the Canadian International Trade Tribunal (CITT), and David Latina, Australia’s Anti-Dumping Commissioner. The forum noted a shared consensus recognizing trade remedies as a key measure for upholding the fair trade order amid supply chain shifts and uncertainties across the global trade landscape. Also noted was the various countries’ respective push for reform of trade remedies and efforts for capacity building in view of factors increasing the complexity of investigations, such as global oversupply and circumvention. The KTC has received five anti-dumping investigation requests during this year’s first quarter alone, already reaching half of the record high 10 requests received last year. By this May, the KTC has also submitted a total of eight proposals, including those for provisional duties, for anti-dumping duties on steel and petrochemical products based on a cause-and-effect relation between dumped imports and injury on domestic industries. The above outcomes are a result of the organizational expansion and restructuring efforts that the KTC carried out in March, aiming to enhance its timely responses to domestic industrial damage from low-priced imports and to strengthen trade defense mechanisms.   date2025-06-10

Seoul Food 2025 kicks off at record scale

Korea’s Ministry of Trade, Industry and Energy (MOTIE) and the Korea Trade-Investment Promotion Agency (KOTRA) announced that the Seoul International Food Industry Exhibition 2025 (Seoul Food 2025) is held from June 10–13 at the Korea International Exhibition Center (KINTEX) in Ilsan. Launched in 1983, Seoul Food is now in its 43rd year and ranks as Korea’s largest and Asia’s fourth largest food exhibition. This year’s Seoul Food has drawn a record of 1,639 food businesses from 45 countries and the number of overseas buyers participating in the trade consultations program have jumped 20 percent year-on-year to 300 companies. The popularity of K-food sweeping across parts like Southeast Asia and the U.S. has attracted a substantial number of their major buyers to engage in this year’s trade consultations, which are estimated to generate an export contract value of roughly USD 0.25 billion, up 25 percent from last year. Meanwhile, global experts will have the opportunity to present and discuss various issues at the 9th Global Food Trend & Tech Conference program, addressing recent global food industry trends such as meat alternatives, low-sugar products, future food technology, AI, robots, and digital food technology. Moreover, a score of leading businesses in the areas of meat alternatives, food tech, and convenience meals will be awarded during the 10th Seoul Food Awards program for their achievements, while exclusive promotion booths will be set up to assist the export of quality food items. Another special feature of Seoul Food 2025 is the addition of influencers and content creators from Korea, China, Vietnam, and Japan, who will be joining to boost the sales and promotion of food products through digital platforms, in an effort to expand beyond the conventional retail network. In conjunction with Seoul Food 2025, Korea’s Ministry of Agriculture, Food, and Rural Affairs (MAFRA) is hosting a one-on-one trade consultation program to support the diversification of competent SMEs and middle-market companies, where buyers from emerging markets like Chile, Guatemala, and Laos are introduced to Korea’s top export items like kimchi, red ginseng, and yuja preserves as part of creating tangible outcomes like MOUs and trade deals to penetrate new markets. Furthermore, the National Food Cluster pavilion is opening for the second consecutive year to support 48 promising food companies’ exhibitions, tasting events, and buyer consultations.   date2025-06-10

Korea’s exports decline 1.3% in May

The Ministry of Trade, Industry and Energy (MOTIE) announced on June 1 that Korea’s exports and imports for the month of May 2025 decreased 1.3 percent and 5.3 percent year-on-year, respectively, to USD 57.3 billion and $50.3 billion. The trade balance stood at a surplus of $6.9 billion.   Accounting for the number of working days, the daily average export value rose 1.0 percent to this year’s all-time high of $2.7 billion. Five out of Korea’s 15 major export items advanced in May. Semiconductors hit a new high for the month with $13.8 billion (up 21.2 percent) as fixed prices rose alongside strong demand for high value-added memory chips like HBMs and DDR5s. Wireless communication exports maintained an upward trajectory for the fourth consecutive month, climbing 3.9 percent to $1.3 billion on the backs of the robust performance of smartphones (up 30.0 percent to $0.4 billion). Computers, including solid-state drive (SSDs), increased 2.3 percent to $1.1 billion, turning to an expansion. Bio-health exports (up 4.5 percent to $1.4 billion) increased for the fourth consecutive month, driven by the solid growth of biopharmaceuticals (up 13.7 percent to $0.9 billion). Ship exports gained 4.3 percent to $2.2 billion, growing for the third month straight. Korea’s total automobile exports entered the $6 billion thresholds for the fourth consecutive month, thanks to demand for EVs and secondhand cars (up 71.0 percent to $0.7 billion) in the EU market.  In addition to the leading 15 items, Korea’s agricultural food products (up 5.5 percent to $1.0 billion) and cosmetics (up 9.3 percent to $1.0 billion) both reached historic highs for May and electric machinery (up 0.1 percent to $1.3 billion) improved for the fourth consecutive month. By region, Korea’s May exports expanded to two out of nine major destinations. To China, exports dropped 8.4 percent to $10.4 billion as those of semiconductors and petrochemicals receded. U.S.-bound exports fell 8.1 percent to $10.0 billion as a result of a plunge in automobile exports, despite the growth of wireless communications devices, petroleum products, and secondary batteries. Exports to ASEAN shrank 1.3 percent to $10.0 billion in spite of the double-digit growth of semiconductor exports, as petroleum products and petrochemicals took a sharp dive.  Exports to the EU (up 4.0 percent to $6.0 billion) were led by automobiles and semiconductors, gaining for the third consecutive month. Those to CIS countries surged 34.7 percent to $1.2 billion. Korea’s energy imports for May diminished 12.8 percent to $10.2 billion, owing to lower imports of crude oil and gas. Non-energy imports decreased 3.2 percent to $40.2 billion.   date2025-06-02

Minister Ahn holds talks with members of U.S. House Committee on Natural Resources

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met with members of the U.S. House Committee on Natural Resources on May 30 in Seoul to discuss measures for Korea-U.S. cooperation in energy and critical minerals. The U.S. delegation, led by Committee Chairman and U.S. Representative Bruce Westerman (R-AR), consisted of Representatives Nick Begich (R-AK), Harriet Hageman (R-WY), Celeste Maloy (R-UT), and Sarah Elfreth (D-MD). During the talks, Minister Ahn emphasized the need for Korea-U.S. energy cooperation and for stabilization across the critical minerals supply chain in light of increasing global energy demand and supply chain uncertainties. He also requested special concern towards preventing the recent tariff measures from negatively impacting the two countries’ close industrial and energy cooperation. Moreover, he proposed that the two sides engage in consultations on ways to strengthen bilateral energy cooperation in an effort to resolve issues of energy security and trade imbalance. With regard to the budget reconciliation bill that recently passed the U.S. House of Representatives, Minister Ahn underscored the need for policy continuity and support equivalent to the Inflation Reduction Act (IRA) tax credit incentives to ensure stability for Korean companies investing in the U.S. Furthermore, he asked for interest and support at the U.S. Congress-level in invigorating the two countries’ bilateral trade and investment.   date2025-05-30

Korea and Algeria hold talks to resume Joint Economic Committee

Korea’s Ministry of Trade, Industry and Energy launched the first Korea-Algeria director general-level working meeting via videoconferencing on May 27 with a view to resume the Korea-Algeria Joint Economic Committee, which is the two countries’ ministerial-level cooperative channel. The only African country to have forged a strategic partnership with Korea, Algeria is known for its largest land area in the continent, abundance in energy and mineral resources, comparatively younger demographic structure, and favorable position as a gateway to Africa and Europe.  The Korea-Algeria Joint Economic Committee, which had convened three times by 2007, was thereafter suspended due to weakened momentum for economic cooperation from the drop in global oil prices and the COVID-19 pandemic. Recently, the two countries have opened talks on resuming the Committee in anticipation of wider cooperation and industrial diversification. Over the years, Korea’s plant and construction companies have been actively participating in Algeria’s various infrastructure projects including those on combined cycle power plants, freeways, and container terminals, and cooperation is expected to expand to automobiles, home appliances, and such other manufacturing industries. As the first working-level meeting held as a preliminary to the fourth ministerial-level Korea-Algeria Joint Economic Committee meeting, the virtual talks took stock of the two countries’ respective levels of interest and prospects for concrete cooperation across a wide range of agendas spanning industries, energy, digital, ICT, agriculture, environment, healthcare, and culture.  The Korean delegation proposed, as an agenda item for the Joint Economic Committee, that the two sides consider entering an Economic Partnership Agreement (EPA) as a legal and institutional framework for the bilateral expansion of trade and investment cooperation. They also agreed to discuss hosting a joint event for promoting business cooperation in conjunction with the ministerial-level Committee meeting. Noting the significant potential for economic cooperation with Algeria, Korea’s Director General for International Trade Relations Kim Jong-chul stated that additional working-level meetings will be held in the near future to settle bilateral agenda items, so that the two countries can resume the ministerial-level joint Committee after the 18-year hiatus.   date2025-05-28

Korea’s retail industry grows 7.0% in April

The Ministry of Trade, Industry and Energy (MOTIE) announced today that Korea’s retail industry advanced 7.0 percent year-on-year in April 2025, with offline sales receding 1.9 percent and online sales climbing 15.8 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. Offline sales were affected by weakened consumer confidence, increasing online purchases, and the rapidly shifting weather patterns observed recently, which led to a decline in outdoor activities. As a result, hypermarkets and department stores saw sales shrink 3.1 percent and 2.9 percent, respectively. Meanwhile, SSMs gained 0.2 percent while convenience stores (down 0.6 percent) slowed for the second time this year following their previous decline in February. Online sales are on an upward trajectory, driven by the expansion of online shopping, heightened competition among delivery services, and the wider range of available services. Most categories of offline sales slid with the exception of luxury goods (up 1.1 percent), while online retail sales continue to grow on the backs of food products (up 21.3 percent) and services (up 50.1 percent) such as food delivery, e-coupons, and travel packages. Online sales of fashion/clothing (down 8.6 percent) are still sluggish, whereas cosmetics (up 11.6 percent) are maintaining growth.   date2025-05-28