S. Korea urges WTO members to curb trade protectionism at Geneva meet
Synopsis
Key Concerns: Steel Oversupply and Tariff-Rate Quotas
Kwon specifically flagged the impact of tariff-rate quotas on South Korea's steel industry, pressing the case through both multilateral and bilateral channels. She argued that structural issues such as the global oversupply of steel and other goods must be addressed through fundamental solutions rather than unilateral trade barriers that shift the burden onto trading partners.
This comes amid a broader wave of protectionist actions globally, including the European Union and Britain adopting new steel safeguard measures that directly affect South Korean exports. Notably, South Korea is among the world's top steel exporters, making such measures a significant economic concern for Seoul.
Bilateral Meetings on Steel Safeguards
On the sidelines of the WTO General Council, Kwon held bilateral meetings with representatives from Britain, Japan, Turkey, and other nations. The discussions centred on the steel safeguard measures recently adopted by the EU and Britain, as well as other pending trade disputes. Seoul views these bilateral engagements as a parallel diplomatic track to reinforce its multilateral positions.
Key Takeaways
South Korea has called on the global community to collectively respond to the surge in trade-restrictive measures being imposed by major economies, raising the issue at a high-level World Trade Organization (WTO) General Council meeting in Geneva on 7 May 2025. The appeal was made by Seoul's chief representative at the two-day meeting, which began on Wednesday, according to the Ministry of Trade, Industry and Resources.
South Korea's Stand at the WTO General Council
Kwon Hye-jin, Director General for Trade Negotiations at the Ministry of Trade, Industry and Resources, led South Korea's delegation at the Geneva session. Kwon urged WTO member nations to refrain from imposing trade protectionist measures — including tariff hikes and import restrictions — warning that such actions risk triggering a