Ministry of Trade, Industry and Energy

Korea’s Retail Industry Grows 9.1% in July

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 27 that Korea’s retail industry grew 9.1 percent year-on-year in July 2025, with offline sales gaining 2.7 percent and online sales surging 15.3 percent. MOTIE's monthly retail sales figures are based on surveys of 23 major retailers, comprising 13 brick-and-mortar retailers and 10 online retailers. By offline retail channel, convenience stores rose 3.9 percent, marking their first gain in four months. This growth was partly driven by use of People’s Livelihood Recovery Consumption Coupons, issued by the Korean government as part of efforts to revitalize the economy. Department stores also climbed 5.1 percent, supported by positive growth across all product categories except miscellaneous goods. Super supermarket operators edged up 1.8 percent, maintaining their upward trajectory for the fifth consecutive month. By category, offline sales expanded in food products (up 2.7 percent), services/others (up 4.4 percent), and luxury goods (up 11.3 percent). Meanwhile, online sales posted solid growth in July, driven by strong performance in the services category (up 24.9 percent) and the food category (up 24.2 percent). date2025-08-28

2025 APEC Energy Ministerial Meeting Opens in Korea

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is hosting the 15th Asia-Pacific Economic Cooperation Energy Ministerial Meeting (APEC EMM) from Wednesday, August 27 to Thursday, August 28 in Busan. In line with the global trend of pursuing both carbon neutrality and energy security, the meeting seeks to set directions and explore collaborative measures for energy transition and innovation within the APEC region. This year marks the first time in 20 years that Korea serves as chair of the APEC EMM. The opening ceremony carries added significance as it took place at Nurimaru APEC House, the same venue that hosted the 2005 APEC Economic Leaders’ Meeting.   <15th APEC Energy Ministerial Meeting> - (Date/Venue) August 27 (Wed) 16:30 - 18:30 Nurimaru APEC House (Korea’s opening remarks available to the public) August 28 (Thu) 09:00 - 16:00 Paradise Hotel Busan - (Agenda) ① Electricity grid & energy security, ② Expanding stable energy supply, ③ AI-driven energy innovation - (Participants) About 340 representatives from 21 APEC member economies, international organizations, and global companies   A key global energy trend today is the rapid advance of electrification, driven by the growth of cutting-edge industries and the proliferation of AI data centers. With energy demand surging, stable supply and stronger grid security are becoming increasingly critical. While AI fuels rising demand, it can also offer solutions by optimizing energy systems and improving their efficiency. Against this backdrop, the 15th APEC EMM is addressing the following three key agendas. The first agenda focuses on expanding stable energy supply. Participants share a common understanding that energy demand within the APEC region is rapidly increasing due to the spread of AI data centers and the electrification of industries and transportation. To address imbalances in supply and demand, they are discussing measures to expand stable, economical, and reliable supply. Senior officials from Mission Innovation and the World Bank are also attending this session to share insights on public-private cooperation for strategic investment and technology innovation. The second agenda addresses strengthening grid security and reliability. This session provides an opportunity for participants to explore measures in bolstering energy security through grid expansion and modernization. Representatives from international organizations, including the Clean Energy Ministerial Secretariat, and global energy companies are participating to discuss grid modernization strategies, technological advances, and opportunities for regional innovation. The third agenda examines AI-driven energy innovation. Participants are building consensus around the idea that in the era of AI transformation, the AI revolution and energy innovation must advance together. They are discussing ways to leverage AI to ensure both the efficiency and reliability of energy systems. The World Economic Forum and the Asian Development Bank are also participating, introducing AI-powered initiatives and programs currently being implemented in energy systems. These three agendas are the central themes of the APEC EMM plenary session. In his opening remarks, Vice Minister of MOTIE Lee Ho-hyeon stated, “Korea is developing various technologies to expand energy supply in response to demand surges, building an ‘Energy Highway’ to enhance grid stability and resilience, and establishing a ‘K-Grid’ that combines microgrid and AI technology to improve efficiency in grid management.” He added, “This 15th APEC EMM will serve as an important milestone in advancing regional energy cooperation.” date2025-08-28

16th Clean Energy Ministerial Meeting and 10th Mission Innovation Ministerial Meeting Begin in Korea

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is hosting the 16th Clean Energy Ministerial Meeting (CEM16) and the 10th Mission Innovation Ministerial Meeting (MI-10) from Monday, August 25 to Wednesday, August 27 at BEXCO in Busan. As part of Energy Super Week, the meetings are being held alongside the 2025 World Climate Industry EXPO and the 15th APEC Energy Ministerial Meeting. CEM and MI are leading global platforms for public-private cooperation, bringing together stakeholders in climate and energy to discuss the expansion of clean energy and to explore collaborative measures for accelerating technological innovation. This year, the events are organized under the theme, “Energizing Cooperation for a Prosperous Future.” Nearly 1,000 participants are attending, including delegates from 41 governments and representatives from 111 international organizations. As chair of CEM16 and MI-10, Korea is leading global energy agendas to address pressing challenges in the era of climate crisis. To facilitate substantive public-private cooperation, four high-level roundtable dialogues were held with ministers, vice ministers, international business leaders, and officials from international organizations. In the Power Transformation session, ministerial and sub-ministerial officials met with global companies with strong technological capabilities in the power sector, including LS Cable & System, Hyosung Heavy Industries, and Bloom Energy. They discussed measures to expand carbon-free power generation facilities and electricity infrastructure to meet growing demand from AI, data centers, and electric vehicles, as well as strategies for innovating power systems to accelerate the transition to clean energy. The Industry Decarbonization & Energy Efficiency session explored private sector efforts to reduce emissions in hard-to-abate industries such as steel, while sharing business models and financial mechanisms to improve energy efficiency. In the Future Fuels session, government officials from countries highly interested in advancing hydrogen and other future fuels met with leading Korean companies in the hydrogen sector, such as Hyundai Motor and Kolon Industries. They reaffirmed the decarbonization potential of future fuels—including clean hydrogen, ammonia, and e-fuels—in industry and transportation and discussed strategies for expanding adoption and investment in future fuels. The Energy & AI session brought together representatives from Microsoft, Google, NVIDIA, LG Energy Solution, and Korea Electric Power Corporation with ministerial officials from participating countries. They examined the dual relationship between AI and energy—rising energy demand driven by AI and energy innovation powered by AI—and discussed prospects for mutually reinforcing development in both sectors. Power transformation and future fuels will also be key topics at the G20 Energy Transitions Working Group Ministerial Meeting in October and the 2025 United Nations Climate Change Conference in November, respectively. CEM16 and MI-10, hosted by Korea, will contribute significantly to advancing these global energy agendas. Vice Minister of MOTIE Lee Ho-hyeon stated that CEM16 and MI-10 provided valuable platforms for discussing energy transition, energy security, and energy technology innovation. He expressed hope that this year’s meetings in Korea would serve as a turning point for spreading innovative energy technologies, developing tangible solutions, and strengthening global solidarity. date2025-08-27

Energy Super Week Opens August 25 in Korea with Global Energy Leaders

Energy Super Week will run from Monday, August 25 to Friday, August 29 at BEXCO and Nurimaru Asia-Pacific Economic Cooperation (APEC) House in Busan, Korea. This international event brings together global energy leaders in conjunction with the 2025 World Climate Industry EXPO (WCE), the 16th Clean Energy Ministerial Meeting (CEM16), the 10th Mission Innovation Ministerial Meeting (MI-10), and the 15th APEC Energy Ministerial Meeting. The five-day event has been organized through active cooperation among Korean ministries, including the Ministry of Trade, Industry and Energy (MOTIE), the Ministry of Foreign Affairs, the Ministry of Science and ICT (MSIT), and the Ministry of Agriculture, Food and Rural Affairs. As chair of APEC 2025 KOREA, CEM16, and MI-10, Korea will lead discussions on advancing global energy agendas and present AI-driven strategies for energy innovation and climate action under the theme “Energy for AI & AI for Energy.” Energy Super Week will bring together 40 government delegations, officials from 65 international organizations, 1,300 prominent figures including global business executives, and representatives from 540 companies. Korea aims to leverage this opportunity to strengthen its role as a hub for international energy cooperation. 2025 WCE: Platform for AI and Energy Innovation ❶ The 2025 World Climate Industry EXPO (WCE) will be co-hosted by the Korean government, the International Energy Agency (IEA), and the World Bank (WB) from August 27 to 29 at BEXCO. Following opening remarks by Korea’s Prime Minister, leading figures in the global energy and climate sectors—including IEA Executive Director Fatih Birol and Microsoft Director of Sustainability Policy Michelle Patron—will deliver keynote addresses. This year’s expo carries added significance as WB joins as a new co-host, reinforcing global cooperation. ❷ The 2025 WCE will feature 12 global conferences, four of which are organized directly by international bodies such as IEA, WB, and the Asian Development Bank (ADB). Key agendas include energy & AI, smart energy, and low-carbon innovation strategies, with participation from major global tech companies including Microsoft, Google, NVIDIA, and General Electric. Korean ministries and organizations will also host sessions to explore climate and energy solutions in collaboration with the international community. Hosts include MOTIE, the Presidential Commission on Carbon Neutrality and Green Growth, Busan Metropolitan City, MSIT, the Korea Meteorological Administration, the Korea Forest Service, and the Korea Chamber of Commerce and Industry. ❸ The 2025 WCE will operate six exhibition halls showcasing nearly 540 companies, including Samsung, LG, and other major Korean corporations. Exhibits will highlight innovations across offshore wind energy, hydrogen, and carbon reduction technologies. A highlight will be the newly launched “Energy Highway” hall, where Korean power equipment companies will present next-generation power grids, high-voltage direct current transmission systems, energy storage systems, and digital power solutions. This new hall is designed as a symbolic space to communicate the new Korean administration’s visions for energy transition to the international community. ❹ Alongside the conferences and exhibitions, visitors can take part in a job fair and global networking program featuring 45 Korean public energy corporations, Germany’s RWE, the Global Green Growth Institute, and WB. Their participation is expected to generate new job opportunities and expand international cooperation. To further enrich the event, experiential programs will include a talk concert by a science YouTuber on August 28, an AI-based photography experience, and a drone light show at Gwangalli Beach on August 27. APEC Energy Ministerial Meeting: Advancing Global Policymaking and Cooperation Ministerial meetings will date2025-08-26

Minister Kim Meets US Senators to Strengthen Bilateral Cooperation

Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan met with US Senators Tammy Duckworth of Illinois (the Democratic Party) and Andrew Kim of New Jersey (the Democratic Party) in Seoul on August 19, 2025. The two sides discussed measures to strengthen bilateral cooperation and expand investment in shipbuilding and other industries. Illinois is home to numerous Korean logistics, appliance, and auto parts companies thanks to its excellent transportation infrastructure and workforce. New Jersey hosts North American branches of major Korean corporations and businesses across diverse sectors including electronics, food, and machinery. During the meeting, Minister Kim requested unwavering attention and support for Korean companies that have established operations in both states, and throughout the US. To ensure further bilateral economic ties, he also emphasized the importance of stable and consistent policies that facilitate investment in the US. The minister cited Hanwha Philly Shipyard near New Jersey as a successful example of shipbuilding cooperation between the two countries, noting the collaboration between the Korean shipbuilder and the state in sourcing qualified professionals and rebuilding the shipbuilding ecosystem. He expressed hope that the US Congress would support diversifying bilateral shipbuilding cooperation from merchant ships to naval vessels, emphasizing Korea’s world-class shipbuilding capabilities and technology as a reliable partner for the US. Both sides agreed on the need to develop new policies and enhance bilateral partnership in a shifting trade landscape. Meanwhile, the Ministry of Trade, Industry and Energy plans to provide support for industries prone to recent tariff changes and devise mid- and long-term measures to strengthen industrial competitiveness and respond to the evolving trade environment. date2025-08-21

Korea’s Auto Industry Posts Comprehensive Growth in July

The Ministry of Trade, Industry and Energy (MOTIE) announced on August 19 that Korea’s automobile exports, domestic sales, and production all rose year-on-year in July, marking a solid start to the second half of 2025. Automobile exports grew for the second consecutive month, reaching $5.8 billion (up 8.8 percent year-on-year). This was driven by a 5.8 percent rise in new vehicle exports and a 17.0 percent surge in eco-friendly vehicle exports, namely electric vehicles (EVs, up 12.3 percent), hybrid vehicles (up 18.1 percent), and plug-in hybrid vehicles (up 31.7 percent). By destination, automobile exports to the EU climbed 32.7 percent to $0.7 billion, while those to non-EU regions soared 78.7 percent to $0.6 billion year-on-year. Exports to the Middle East declined 13.8 percent to $0.4 billion, largely due to the ongoing Israel-Iran conflict. Meanwhile, domestic sales of eco-friendly vehicles set a new monthly record in July, accounting for 55.3 percent of total automobiles sold in Korea. In particular, EV sales spiked 69.4 percent year-on-year to nearly 26,000 units. As of July 30 (US local time), Korea and the US agreed to set tariffs on automobiles and auto parts at 15 percent, easing much of the trade uncertainty. The Korean government plans to support the automobile industry in swiftly adapting to the new trade environment and secure growth momentum through financial aid, technology development, and new market opportunities. date2025-08-20

Trade Minister Hosts Strategy Meeting for Upcoming APEC Business Events

Korea’s Minister for Trade Yeo Han-koo hosted a strategy meeting on Monday, August 18, 2025, at the Korea Chamber of Commerce and Industry in Seoul to ensure meaningful economic outcomes from upcoming Asia-Pacific Economic Cooperation (APEC) business events. In line with the 2025 APEC Economic Leaders' Meeting week scheduled for October, various events will be held, including the CEO Summit, Invest KOREA Summit, and Export Boom-Up Korea Week. The strategy meeting brought together relevant agencies to review overall progress and discuss cooperative measures for tangible outcomes. At the meeting, the Ministry of Trade, Industy and Energy considered ways to attract respected figures in the global business arena and launched the control tower for the APEC business events. The control tower seeks to produce concrete results, such as fostering communication and partnerships between domestic and overseas companies, promoting investment and export, and identifying new collaborative projects. In his opening remarks, Trade Minister Yeo stated that the recent conclusion of US tariff negotiations eased some export uncertainties; however, other risks remained, including the decline of the multilateral trading system and the growing trend of protectionism. He added, “We must ensure that this year’s APEC business events serve as a springboard for companies to take another leap forward.” He also noted that global attention is focused on the APEC 2025 KOREA, which is being held amid sweeping changes in the trade landscape. The minister stressed, “We must demonstrate open leadership as a middle power by facilitating cooperation between APEC member economies and contributing to regional economic revitalization.” This year marks the first time in 20 years that Korea is serving as APEC Chair. The APEC 2025 KOREA will be the largest international event hosted by the new administration and serve as a major opportunity to behold the country’s economic resilience and mature democracy. date2025-08-19

Korea’s Shipbuilding Takes Another Leap with MASGA Project

[Naming Ceremony for LNG Carriers] Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan attended the naming ceremony for two very large liquefied natural gas (LNG) carriers on Thursday, August 14, 2025, at Hanwha Ocean’s Geoje Shipyard in Gyeongsangnam-do, Korea. This marked his first industrial site visit following his appointment to the ministerial position. The two vessels are the first and second of five LNG carriers, worth a total of USD 1.2 billion, ordered in 2022 by a US LNG production company. They will be used for the global export of US-produced LNG. The vessels are categorized as very large LNG carriers, each with a capacity of 200,000㎥, enough to transport roughly one day’s worth of LNG consumption for the Korean population in a single shipment. They are symbolic examples of the “Make American Shipbuilding Great Again (MASGA)” collaborative project between Korea and the US, in that a Korean shipbuilder constructed vessels to transport US-sourced energy. In his congratulatory speech, Minister Kim stated that the MASGA project would support the US shipbuilding industry through investment in shipyards, skilled workforce training, and re-establishment of supply chains, while creating new market opportunities for Korean companies. He added that the Korean government would promptly form a council of related agencies and work closely with the US government to produce tangible results. [Visit to MRO Site of US Naval Vessel] Following the naming ceremony, Minister Kim visited the maintenance, repair, and overhaul (MRO) site for Charles Drew, the 3rd US naval vessel currently at Hanwha Ocean’s Geoje Shipyard. He encouraged Hanwha employees and crew members, stating, “Shipbuilding cooperation between Korea and the US begins with MRO for US vessels. We hope our shipbuilding technology will revive Charles Drew, just as we did with the previous two MRO projects.” [Meeting with Hanwha Ocean’s Labor Union Leader] Lastly, Minister Kim met with Kim Yoo-chul, Leader of Hanwha Ocean’s labor union and Chairman of the Daewoo Shipbuilding & Marine Engineering branch. The minister expressed his appreciation for the dedication of site workers who have contributed to the rebound of Korea’s shipbuilding industry. Emphasizing that workplace safety must be a shared priority for labor, management, and the government alike, he called for all parties to work together as a team to prevent industrial accidents and ensure safe shipyard operations. In the first meeting of its kind between a MOTIE minister and a shipyard labor union leader, the minister also expressed hope that employees at the site would actively support the MASGA project, adding it would create new opportunities for Korea’s shipbuilders. date2025-08-14