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

2.      Ambassador Choi delivered a keynote speech presenting the efforts of the Korean government for 
reform and opening through measures such as structural reform in 4 key sectors (financial, corporate, labor, 
public), enhancing transparency in regulatory reform, the liberalization of foreign investment and 
improvement of the investment environment. In addition, he explained that the Korean government would 
continue to promote the policy of reform and opening, notwithstanding domestic and international 
circumstances. Also, he explained that the Korean government attaches importance to the multilateral 
trading system centered around the WTO, and will continue contributing to the maintenance and 
strengthening of the multilateral trading system and the successful conclusion of the DDA negotiations. 
Concerning FTA negotiations, it was explained that FTAs would be pursued in a manner that supplements 
multilateral liberalization.

3.      WTO member countries evaluated Korea as a model case of achieving economic growth through the 
multilateral trading system, and assessed the improvement of Korea’s trade-related laws and systems, and 
its efforts for market opening and liberalization. While evaluating the Korean government’s policy of reform 
and opening, as well as its endeavors to improve trade-related systems and practices, the following areas 
were pointed out as requiring further efforts:

○ The simplification of tariff structures and the reduction or elimination of adjusted tariffs

○ High tariffs on agricultural goods and the facilitation of structural reform in agriculture

○ Ensuring that sanitary measures and technical standards do not function as barriers to trade

○ Protection of intellectual property rights in the internet environment

○ Restricting the exclusion of products from tariff concessions, the principles for promoting FTAs and 
current conditions

4.      Responding to the questions asked by member countries on Korea’s trade policy, the Korean 
delegation explained the measures taken for market opening since the 2000 TPR and the status of 
implementation of WTO obligations, and on the issues raised by Korea’s trading partners concerning 
domestic systems and practices, the delegation answered that they would be administered in accordance 
with the WTO Agreement.

5.      The objective of the WTO Trade Policy Review Mechanism (TPRM) is to maintain and strengthen the 
WTO system through increasing transparency in the trade policies and practices of member countries, by 
conducting regular evaluations and reviews, and enhancing understanding among member countries. The 
cycle of review differs according to each country’s trading volume, 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