1.      The WTO Trade Policy Review (TPR) of Korea is to be held September 15th-17th in Geneva, 
Switzerland. The first TPR of Korea was held in 1992 under the GATT system, and this is the third TPR to be 
held under the WTO system, following the reviews of 1996 and 2000. The Korean government will be 
dispatching a delegation headed by Mr. Choi Hyuck, Ambassador to Geneva, and consisting of officials from 
9 related government agencies including the Ministry of Foreign Affairs and Trade, the Ministry of Finance 
and Ecnoomy, the Ministry of Forestry and Agriculture, and the Ministry of Commerce, Energy and Industry.

2.      In this meeting, the Korean delegation will enhance the understanding of WTO member countries on 
Korea’s efforts to reform and open its economy, through measures such as structural reform in 4 key sectors 
(financial, corporate, labor, public), the establishment of a business-friendly regulatory environment, the 
liberalization of foreign investment, and the improvement of the investment environment. The Korean 
delegation will also present the firm resolve of the government to continue promoting a policy of reform and 
opening, regardless of changes in domestic and international economic conditions.

3.      In addition, the delegation will emphasize that Korea would make active efforts for the development of 
the multilateral trade system centered around the WTO, and explain how trade-related laws and systems 
are being readjusted as well as what efforts are being made to observe the obligations under the WTO 
Agreement. The delegation will also explain that Korea would continue contributing to the successful 
conclusion of the DDA negotiations aimed at the expansion of trade liberalization and improvement of trade 
regulations, and pursue FTAs as a supplementary means to expanding liberalization.

4.      The objective of the WTO Trade Policy Review Mechanism (TPRM) is to maintain and strengthen the 
WTO system through increased transparency in the trade policies and practices of member countries, by 
conducting regular evaluations and reviews, and enhanced understanding among member countries. The 
cycle of review differs according to country, with a 2 year cycle for the 4 major trading countries (the U.S., the 
EU, Japan, Canada), and a 4 year cycle for the 5th-20th largest trading countries, including Korea, and a 6 
year cycle for other member countries.

                                                                    Spokesperson of MOFAT

* unofficial translation