Ulsan: The government will extend active support for the electrical equipment industry to keep the sector's strong export momentum fueled by the global artificial intelligence (AI) boom, the trade minister said Friday. Trade Minister Yeo Han-koo made the remarks during his visit to HD Hyundai Electric Co.'s manufacturing plant in the southeastern city of Ulsan, according to the Ministry of Trade, Industry and Resources. HD Hyundai Electric is one of the major South Korean electrical equipment exporters.

According to Yonhap News Agency, Yeo highlighted the impact of the global expansion of AI investment, transition to clean energy, and major economies' power grid replacement demand, which led South Korea's electrical equipment exports to reach an all-time high of US$16.7 billion last year. He emphasized that electrical equipment has become one of the key export items for the country.

The country's exports surpassed the $700 billion mark in 2025 for the first time ever and have been showing strong momentum this year, exporting a combined $306.5 billion worth of goods in the January-April period. To support the momentum, the government will provide comprehensive support to Korean exporters in the electrical industry and other sectors, including a record 275 trillion won ($183 billion) in trade insurance this year, Yeo said.

The government also plans to expand financial assistance needed for large-scale and long-term projects in sectors that include nuclear power, defense, and electrical equipment to 127 trillion won over the next five years, he added.