Ministry of Trade Industry and Resources

The Korean delegation, led by Trade Minister Yeo Han-koo of the Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim), is helping steer WTO reform talks, build support for incorporating the Investment Facilitation for Development Agreement (IFDA) into the WTO framework, and broaden strategic engagement with key partners at the 14th WTO Ministerial Conference (MC14) in Yaoundé, Cameroon. As the conference is seen as a pivotal moment to restoring the multilateral trading system and setting the direction of future global trade rules, Korea is playing an increasingly prominent role.

Trade Minister Yeo Chairs Key WTO Reform Sessions

As Minister Facilitator for WTO reform, Trade Minister Yeo Han-koo chaired four sessions on March 26 and 27, 2026, covering fundamental WTO issues, decision-making and past mandates, development and special and differential treatment, and a level playing field, structuring the key issues under each agenda item and leading constructive exchanges among member states.

Türkiye Withdraws Opposition, Boosting Prospects for IFDA’s WTO Incorporation

Korea is working to build support for incorporating the Investment Facilitation for Development Agreement (IFDA) into the WTO framework at MC14. As co-chair of the IFDA negotiations with Chile, Korea hosted a ministerial side event on March 25, 2026, bringing together major economies and international organizations to discuss the agreement’s value, its potential contribution to development, and support for implementation.

In his opening remarks, Trade Minister Yeo highlighted Korea’s experience in improving its investment environment and stressed the importance of a predictable and transparent investment climate. He said the IFDA could provide a solid institutional foundation for attracting investment amid global uncertainty and serve as a practical model for inclusive cooperation for development.

Ahead of MC14, Korea held bilateral consultations with India and Türkiye and exchanged letters with both countries in an effort to persuade them to drop their opposition. On March 26, 2026, Türkiye withdrew its opposition at the opening session of MC14, raising expectations for the IFDA’s incorporation into the WTO framework.

Expanding Global Networks Through Bilateral Meetings

In his role as facilitator of the WTO reform talks, Trade Minister Yeo Han-koo held a series of bilateral meetings with heads of delegation from key economies to build broader support for the multilateral trading system and address issues affecting Korean businesses. With New Zealand, Singapore, the Netherlands, France, and the United Kingdom, he coordinated positions on the WTO reform work plan and digital trade rules. With Paraguay, Uruguay, and Argentina, he discussed supply chain stability and measures to ease non-tariff barriers.

“At a time of growing uncertainty in the global trading environment, the multilateral trading system faces a critical test of whether it can deliver tangible results,” Trade Minister Yeo said. He added, “As facilitator of WTO reform discussions and co-chair of the IFDA negotiations, Korea will work through the close of MC14 to help deliver concrete outcomes.”