Trade chief vows to find 'mutually beneficial' tariff solution with US SEOUL, February 4 (AJP) - Officials from South Korea and the United States have been working closely to come up with a "reasonable solution" to tariff-related issues after U.S. President Donald Trump's abrupt threat last week to raise tariffs, Minister of Trade, Industry and Resources Yeo Han-koo said on Wednesday. While wrapping up his weeklong trip to Washington, D.C., Yeo told reporters that he met with numerous U.S. government officials including representatives from the Office of the U.S. Trade Representative, as well as members of Congress and business groups such as the U.S. Chamber of Commerce, to figure out what lies behind Trump's threat. Trump warned last week that he would raise reciprocal tariffs on Seoul from 15 percent back to 25 percent, citing delays in implementing a broader deal between the two allies reached in October last year, which includes Seoul's massive investment pledges to the U.S. Expressing concern over the potential impact of tariff increases on businesses and industries, the minister conveyed Seoul's commitment to implementing the agreement. Yeo further explained that he met with about 20 U.S. lawmakers to address their concerns and clarify any misunderstandings related to the deal, discussing necessary legislative or administrative procedures to facilitate the agreement. "We will continue discussions with the U.S. to find a mutually beneficial solution," he said. Yeo returns home on Thursday. 2026-02-04 14:43:19

South Korea to Fund 70 New Energy R&D Projects Worth 136.9 Billion Won The Ministry of Climate, Energy and Environment said it will post its “2026 Energy Technology Development Implementation Plan” and a first round of 70 new energy technology development projects totaling 136.9 billion won on the ministry website and the Korea Institute of Energy Technology Evaluation and Planning website on Wednesday. The ministry said it plans to support 201.4 billion won this year for new energy technology R&D projects to respond to the climate crisis and advance a sustainable energy transition. It said the program will focus on securing key components for an “energy expressway,” developing next-generation renewable energy technologies, and building the foundation for carbon-neutral R&D. For the “energy expressway,” the ministry said it will provide 12.9 billion won for technology development, including securing key components such as transformers and establishing AI-based systems to operate distributed power grids. To develop next-generation renewable energy technologies, it said it will invest 61.1 billion won in projects including narrowing essential technology gaps related to commercial-area tandem solar modules and offshore wind turbine blades, as well as expanding agrivoltaics. To accelerate carbon neutrality, the ministry said it will support 98.2 billion won for technology development including large-capacity heat pumps, building a clean hydrogen ecosystem, advancing core technologies across the nuclear power life cycle, and securing domestically developed carbon capture, utilization and storage, or CCUS, technologies. It also said it will invest 29.2 billion won to strengthen the energy R&D foundation by expanding advanced workforce training and bolstering follow-up support for strong research outcomes. A ministry official said additional announcements for new projects tied to international joint research and technology commercialization will come later after required procedures, including consultations with partner countries. The official said briefings for interested companies and researchers will be held on Feb. 5 in Seoul and Feb. 12 in Daejeon.* This article has been translated by AI. 2026-01-29 06:03:00

Seoul confirms plan to construct two nuclear reactors by late 2030s SEOUL, January 26 (AJP) - South Korea will proceed with plans to build two new nuclear reactors by 2037-38, the government said on Monday, reviving a project that had effectively been on hold and paving the way for site selection to begin. Climate, Energy and Environment Minister Kim Sung-hwan said construction of the reactors, included in the current national power plan, would move ahead as scheduled after public consultations showed broad support. “New nuclear power plant construction under the 11th Basic Plan for Electricity Supply and Demand will proceed as planned,” Kim told reporters at the government complex in Sejong. Finalized early last year, the 11th plan calls for the construction of two large-scale reactors with a combined capacity of 2.8 gigawatts, targeted to come online in 2037–2038. Kim said reducing carbon emissions across the economy was unavoidable in responding to climate change and that emissions cuts in the power sector would require scaling back coal and liquefied natural gas generation. The electricity system, he said, would need to rely primarily on renewable energy and nuclear power. Following a change in government, debate emerged over whether the nuclear construction plan should be reconsidered or deferred to the 12th basic plan, prompting two public forums and opinion polls conducted late last year and earlier this year. In the surveys, respondents who said the nuclear construction plan “must proceed” accounted for 32.5 percent in a Gallup Korea poll and 43.1 percent in a Realmeter poll. Those who said it “should preferably proceed” made up 37 percent and 18.8 percent, respectively, meaning more than 60 percent supported moving forward. Opposition was lower, with 5.3 percent and 13.5 percent saying the plan “must be halted,” and 17.3 percent in both surveys saying it “should preferably be halted.” When asked which energy source should be expanded most, the largest share of respondents selected renewable energy — 48.9 percent in the Gallup Korea poll and 43.1 percent in the Realmeter survey — followed by nuclear power at 38 percent and 41.9 percent. Citing the results, the government said it would place renewed emphasis on nuclear power while expanding renewables. Kim said intermittency in renewable generation would be addressed through energy storage systems and pumped-storage hydropower, while nuclear power’s operational inflexibility would be mitigated through more flexible plant operations. The new nuclear build is also expected to be a key assumption in the upcoming 12th electricity basic plan, covering 2026–2040. A working-level draft is due in the third quarter after meetings of expert committees, followed by a strategic environmental impact assessment, a public hearing, a report to a National Assembly standing committee and a review by the Electricity Policy Deliberation Committee. Final approval is expected by year-end. The ministry said the next plan would reflect rising electricity demand driven by artificial intelligence and broader electric-vehicle adoption, alongside targets for carbon neutrality and the expansion of a distributed power grid. However, the 11th plan assumes a construction period of about 167 months — nearly 14 years — for large reactors, making early site selection essential to meet the target completion date. Accordingly, Korea Hydro & Nuclear Power is expected to begin a site solicitation process soon, followed by five to six months of evaluation and selection. The aim is to secure construction permits in the early 2030s and complete the reactors by 2037–2038. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-26 10:53:44

Vietnam stays South Korea's No. 3 trading partner for fourth year SEOUL, January 26 (AJP) - Vietnam remained South Korea’s third-largest trading partner for a fourth consecutive year as South Korean exports topped $700 billion for the first time last year, according to government and industry data released on Monday. Vietnam also generated South Korea’s second-largest trade surplus, after the United States. South Korea’s exports to Vietnam rose 7.6 percent from a year earlier to $62.8 billion in 2025, data from the Ministry of Trade, Industry and Energy and the Korea International Trade Association (KITA) showed. Imports from Vietnam increased 11.7 percent to $31.8 billion, lifting total bilateral trade 9 percent to $94.5 billion from $86.8 billion a year earlier. By trade volume, Vietnam ranked third among South Korea’s trading partners, behind China at $272.7 billion and the United States at $196.2 billion. Vietnam overtook Japan in 2022 to become South Korea’s third-largest trading partner and has held that position for four straight years. Its export growth rate of 7.6 percent ranked second among major destinations, behind Taiwan’s 44.4 percent, which officials attributed to Taiwan’s role as a hub for artificial intelligence semiconductor production. South Korea recorded a $31 billion trade surplus with Vietnam last year, its second-largest after a $49.5 billion surplus with the United States. Vietnam briefly became South Korea’s top surplus market in 2022, with $34.2 billion, and has ranked second for the past three years. Officials said the expansion was driven largely by strong semiconductor exports. South Korea’s semiconductor shipments to Vietnam surged 36.7 percent from a year earlier to $24.7 billion, supported by growing global investment in artificial intelligence and data centers. Trade between South Korea and Vietnam has expanded sharply since the two countries established diplomatic relations in 1992. Two-way trade has increased about 190-fold from roughly $500 million, with the trade structure shifting from labour-intensive goods such as textiles and apparel to higher-value products including semiconductors and wireless communications equipment. Following the signing of a bilateral free trade agreement in 2014, trade more than tripled from around $30 billion to $94.5 billion. Exports of consumer goods linked to the Korean Wave, including cosmetics and food products, have also risen. South Korea is also a key trading partner for Vietnam. Based on Vietnam Customs data analysed by KITA, South Korea ranked as Vietnam’s second-largest source of imports and fourth-largest export destination from January through November last year. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-26 09:24:40

Polls show strong support in South Korea for new nuclear plants SEOUL, January 21 (AJP) - A majority of South Koreans support building new nuclear power plants as electricity demand surges with the expansion of artificial intelligence, two public opinion polls showed, adding pressure on the government to reconsider its energy policy stance. The Ministry of Climate, Energy and Environment said on Wednesday it had conducted nationwide surveys last week on a new-reactor plan. The ministry commissioned Korea Gallup and Realmeter to survey 1,519 and 1,505 respondents, respectively, using proportional allocation by gender, age and region. In the Gallup poll, 69.6 percent of respondents said the plan to build new nuclear reactors should proceed, compared with 22.5 percent who said it should be halted. In the Realmeter survey, 61.9 percent supported moving ahead, while 30.8 percent opposed the plan. Support for nuclear power more broadly was also strong. In the Gallup poll, 89.5 percent said nuclear power is necessary, while 82 percent said the same in the Realmeter poll. On safety, about 60 percent of respondents in both surveys said nuclear power is safe, outnumbering those who viewed it as dangerous. When asked which power sources should be expanded, respondents most frequently cited renewable energy and nuclear power. In the Gallup poll, renewables ranked first at 48.9 percent, followed by nuclear at 38 percent and liquefied natural gas at 5.6 percent. In the Realmeter poll, renewables accounted for 43.1 percent and nuclear for 41.9 percent. The results are expected to serve as a key reference as the government weighs whether to proceed with plans for two new large-scale reactors and small modular reactors (SMRs). Those plans were previously finalized but later put on hold after the government decided to reopen public deliberations. Climate Minister Kim Sung-hwan has said since taking office that the new-reactor plan would be reviewed “from scratch,” citing insufficient public input during the drafting of the Lee Jae Myung administration's electricity plan. President Lee has previously expressed skepticism about expanding nuclear power, noting at a September news conference that nuclear plant construction typically takes more than 15 years and that suitable sites are limited. He has argued that solar and wind power, which can be built within one to two years, should be expanded on a large scale. More recently, however, growing electricity demand from AI development has prompted renewed calls within and outside government for stable baseload power. At a New Year’s news conference on Wednesday, Lee said that global trends point to “enormous energy demand” and acknowledged that renewable energy faces intermittency challenges. He said the government should keep an open mind and assess whether new reactors are needed, whether they are safe and what the public wants. A day earlier, he told a Cabinet meeting that public opinion “overwhelmingly” supports expanding nuclear power to address electricity supply concerns. The ministry said it will review whether to pursue new nuclear construction by considering the poll results alongside policy discussions. A ministry official said the government is examining “realistic” power supply options that take into account growth in advanced industries such as AI and semiconductors, as well as carbon-neutrality goals. 2026-01-21 15:31:30

South Korea, Sweden sign clean energy cooperation pact SEOUL, January 19 (AJP) - South Korea’s Ministry of Climate, Energy and Environment signed a memorandum of understanding with Sweden on Monday to expand cooperation on the clean energy transition and power systems. The MOU was signed at the Westin Josun Seoul in central Seoul. Attendees included Lee Ho-hyun, the ministry’s second vice minister, and Maya Lundbäck, Sweden’s state secretary for energy at the Ministry of Climate and Enterprise. The ministry said South Korea and Sweden face shared challenges, including expanding renewable energy and meeting rising electricity demand, and aim to build a complementary partnership based on their respective strengths. Under the MOU, the two countries agreed to cooperate broadly on the clean energy transition, reaffirming their commitment to the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius and achieving carbon neutrality by 2050. Areas of cooperation include expanding renewable energy deployment; strengthening power grids and supply stability; improving power system flexibility; private-sector nuclear cooperation, including small modular reactors; and exchanges on green transition technology and policy. In follow-up talks after the signing, officials said they would discuss ways to deepen cooperation on clean energy deployment policies, grid development and expansion, supply stability, renewable energy integration into power systems, and nuclear power, including SMRs. They also plan to explore public-private cooperation through a South Korea-Sweden energy roundtable involving industry, academic and research experts, focusing on offshore wind power, grid expansion, technology development and policy support. “Going forward, we will actively support practical public-private cooperation by combining the two countries’ policy experience and industrial capabilities across renewables, SMRs and power grids,” Vice Minister Lee said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-19 14:00:34

Seoul, Beijing to hold follow-up FTA talks on services, investment this week SEOUL, January 19 (AJP) - South Korea and China will hold a new round of follow-up negotiations on services and investment under their bilateral free trade agreement from Monday through Friday in Beijing, South Korea’s Ministry of Trade, Industry and Energy said. The two governments agreed at a summit between their leaders in Beijing on Jan. 5 to work toward achieving meaningful progress in the negotiations within this year. The follow-up talks will focus on further market opening and institutional improvements in services and investment, in line with guidelines agreed after the two countries signed their FTA. Formal negotiations began in March 2018, with 12 official rounds held so far, along with multiple intersessional meetings. This week’s talks will seek to accelerate discussions on both negotiating texts and market access issues across three working groups: services, investment and finance, the ministry said. About 30 government officials from the two countries are expected to take part. The South Korean delegation will be led by Kwon Hye-jin, director general for trade negotiations, while the Chinese side will be headed by Lin Feng, director general of the Department of International Affairs at China’s Ministry of Commerce. A ministry official said Seoul and Beijing plan to step up the pace of negotiations by holding regular official rounds, including meetings every other month, with the aim of laying the groundwork for a freer and more open environment for services trade and investment. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-19 08:39:15

Seoul holds emergency meeting after Trump's tariff move on chips and critical minerals SEOUL, January 15 (AJP)-The South Korean government moved into emergency response mode Thursday after the White House issued sweeping proclamations under Section 232 of the Trade Expansion Act, targeting semiconductors and critical minerals on U.S. national security grounds. Minister of Trade, Industry, and Energy Kim Jung-kwan convened an emergency meeting Thursday to review the details of President Donald Trump’s proclamations and map out Seoul’s next steps as Washington signaled a harder line on advanced chips and strategic materials. Trump on Wednesday (local time) signed a proclamation imposing a 25 percent tariff on certain advanced semiconductors imported into the United States and then re-exported, including Nvidia’s flagship artificial-intelligence processor, the H200. The measure takes effect at 12:01 a.m. EST on Jan. 15. The action followed a Commerce Department report submitted in late December under Section 232, which concluded that semiconductor imports — including manufacturing equipment and derivative products — pose a threat to U.S. national security by deepening reliance on foreign supply chains. Under the proclamation, the tariff applies narrowly to advanced computing chips that do not contribute to the build-out of U.S. technology supply chains, while exempting chips used in U.S. data centers, research and development, public-sector applications and other domestic uses. The White House warned, however, that broader tariffs could follow after negotiations with trading partners conclude. “The President could soon impose more expansive tariffs on semiconductors and their derivative products to encourage manufacturing in the United States,” the White House said in a fact sheet, adding that a tariff-offset program may be introduced for companies investing in U.S. production. Chairing Thursday’s meeting, Kim reviewed South Korea’s actions since Washington launched its Section 232 investigations, including the submission of written comments to U.S. authorities. He instructed officials to maintain close contact with industry, monitor developments in real time and analyze potential impacts to minimize damage to Korean companies. Separately, the ministry holds separate industry meetings later Thursday — one on semiconductors and another on critical minerals — to assess exposure and coordinate response strategies with manufacturers. Kim said the government would maintain “constant readiness” not only for the newly announced Section 232 measures, but also for a pending U.S. Supreme Court ruling on reciprocal tariffs under the International Emergency Economic Powers Act, signaling broader trade uncertainty ahead. The proclamation has drawn particular attention in Seoul because it explicitly includes Nvidia’s H200 and AMD’s MI325X among the covered products. Although Nvidia is a U.S. company, its advanced AI chips are manufactured almost entirely by Taiwan Semiconductor Manufacturing Co. (TSMC), meaning they are imported into the United States before being re-exported, placing them squarely within the scope of the tariff. Trump had previously indicated in December that H200 exports to China would be allowed, while suggesting that 25 percent of the sales value would be paid to the U.S. government — a remark that did not appear in the formal proclamation. The Commerce Department on Tuesday finalized revisions to export rules allowing limited H200 shipments to China, subject to strict conditions, including a cap tying China-bound volumes to no more than 50 percent of Nvidia’s U.S. domestic sales. The dual track — easing export controls while imposing Section 232 tariffs — underscores Washington’s attempt to balance national security concerns with preserving the global competitiveness of U.S. chipmakers. Trump also signed a separate proclamation directing the start of negotiations with trading partners to ensure critical-mineral imports align with U.S. security interests. Depending on the outcome, the Commerce Department and the U.S. Trade Representative could consider measures such as minimum import prices for certain minerals. Trade minister Yeo Han-koo has put off his return to Seoul to assess potential impact on Korean companies in Washington, the ministry added. 2026-01-15 14:14:31

South Korea trade chief tells US officials, lawmakers Coupang probe is not 'trade issue' SEOUL, January 15 (AJP) - South Korea’s trade minister Yeo Han-koo has told U.S. officials and lawmakers that a domestic probe into e-commerce firm Coupang should not be interpreted as a diplomatic or trade issue, officials here said on Thursday. Yeo made the remarks during a visit to Washington from Jan. 11 to 14, where he held outreach meetings with U.S. lawmakers, government officials and industry representatives, according to the Ministry of Trade, Industry and Energy. In a series of meetings and roundtables with U.S. senators and representatives, trade associations, think tanks and business officials, Yeo focused on addressing U.S. concerns over South Korea’s digital legislation, which has recently drawn attention in Washington. He warned against portraying the Coupang issue as a “crackdown on a U.S. company,” saying it would be inappropriate to broadly interpret the matter as a diplomatic or trade dispute, the ministry said. South Korean authorities are investigating e-commerce giant Coupang over the handling of a large-scale personal data breach and related business practices, a case that has drawn public attention and scrutiny from U.S. policymakers. South Korean authorities are examining how the breach occurred and whether Coupang, listed in the U.S., complied with reporting and protection obligations under the Korean law. Seoul has stressed that the probe is a domestic regulatory matter aimed at protecting consumers and should not be viewed as a trade or diplomatic dispute. Yeo also met with U.S. Trade Representative Jamieson Greer to discuss the status of implementing bilateral non-tariff commitments outlined in a joint fact sheet released after a South Korea-U.S. summit in November. With a ruling pending on whether reciprocal tariffs imposed by the U.S. administration are unlawful, Yeo told U.S. officials that South Korea — which reached a tariff agreement with Washington — should not be treated unfavorably compared with other countries, the ministry said. Yeo also met Russell Vought, director of the White House Office of Management and Budget, to review follow-up steps after tariff negotiations and agreed to strengthen investment cooperation in key industries, including shipbuilding. “Since the tariff negotiation agreement, expectations in the United States for bilateral trade and investment cooperation have generally been high, but risk factors such as digital trade issues and the U.S. Supreme Court ruling needs to be carefully managed,” a ministry official said. The official added it is important to clearly explain South Korea’s policy intentions and background to the U.S. administration, Congress and industry. 2026-01-15 10:18:44

KEPCO eyes US market with Columbia grid project SEOUL, January 14 (AJP) - Korea Electric Power Corp. (KEPCO) said Wednesday it has signed a technology cooperation agreement with the city of Columbia, S.C., as it looks to expand its business in the U.S., the world’s largest electricity market. KEPCO said it signed a memorandum of understanding on power distribution grid technology cooperation on Jan. 13, local time, at Columbia City Hall. The agreement was signed by Jung Chi-kyo, KEPCO’s executive vice president, and Columbia Mayor Daniel Rickenmann. The partnership is aimed at adapting KEPCO’s distribution grid operating technologies to U.S. market conditions. The company plans to pursue demonstration projects and commercialization in the U.S. for its in-house systems, including an advanced distribution management system, or ADMS, and an energy management platform known as K-BEMS. Under the agreement, KEPCO and the city of Columbia will form a joint working group involving KEPCO’s research arm, the Korea Institute of Energy Technology, the Electric Power Research Institute and the University of South Carolina. The group will develop a U.S.-tailored distribution grid operations solution and carry out a demonstration project using Columbia’s power grid. KEPCO said Columbia’s plan to source 100 percent of its electricity from renewable energy by 2036 has heightened the need to improve efficiency in aging distribution networks and to manage the growing use of distributed energy resources. Applying KEPCO’s operating technology is expected to enhance grid safety and help lower energy costs, the company said. KEPCO described the project as its first step into the U.S. power distribution market, saying it will use the Columbia project as a reference case for expanding South Korean grid technologies more broadly across the U.S. power sector. “KEPCO’s distribution operations know-how and proven technology can contribute to improving service quality and supporting local economic development,” Jung said. 2026-01-14 14:42:25