Ministry of Trade Industry and Resources

Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister Kim Jung-kwan) held the WTO Multilateral Trade Strategy Meeting on Wednesday, December 10, joined by the Ministry of Economy and Finance (MOEF), the Ministry of Foreign Affairs (MOFA), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Oceans and Fisheries (MOF), and the Permanent Mission of the Republic of Korea in Geneva.

With the 14th WTO Ministerial Conference set for March 26–29 in Cameroon, now three months away, participants examined recent developments and Korea’s response strategies regarding key agenda items for MC14 and the WTO General Council on December 16–17. These included the WTO reform, the incorporation of the Investment Facilitation for Development (IFD) Agreement and the E-Commerce Agreement into the WTO system, and agriculture and fisheries subsidy negotiations. The IFD Agreement, currently supported by 128 participating members, was concluded at MC13 under Korea’s co-chairmanship. Korea has since continued efforts to incorporate it into the WTO system, such as by adopting a related statement at APEC in May 2025 and hosting an IFD session at the WTO Public Forum in September 2025.

Trade Minister Yeo noted, “Amid growing global trade uncertainties, enhancing the WTO’s relevance and restoring the multilateral trading system are vital to ensuring a predictable trade and investment environment for Korean companies.” He underscored the importance of working closely with relevant ministries and like-minded members to deliver meaningful outcomes at MC14, including the incorporation of the IFD Agreement and the extension of the E-Commerce Moratorium.