Korea’s economy has continued to become more outward oriented, with
trade in goods and services rising from 83% of GDP in 2004 to
approximately 90% in 2007. Nevertheless, no unilateral MFN tariff
liberalization was undertaken during this period, as opposed to the
intensive pursuit of bilateral free-trade agreements, and the
persistence of state ownership in telecommunications and transport
services has maintained insufficient competition and low labour
productivity in these areas.
The Government can help to maintain Korea’s growth by continuing with
structural reforms, especially those aimed at improving the investment
climate, addressing labour market rigidities and other related reforms
like privatization and regulatory reforms, to increase the flexibility
of the Korean economy and achieve more competitiveness and increased
The WTO report, along with a policy statement by the Government of the
Republic of Korea, will be the basis for the fifth TPR of Korea by the
Trade Policy Review Body of the WTO on 8 and 10 October 2008.
The WTO report, along with a policy
statement by the Government, will be the basis for the Trade Policy
Review (TPR) by the Trade Policy Review Body of the WTO.
following documents are available in MS Word format.
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Trade Policy Reviews are an exercise, mandated in the WTO agreements,
in which member countries’ trade and related policies are examined and
evaluated at regular intervals. Significant developments that may have
an impact on the global trading system are also monitored. For each
review, two documents are prepared: a policy statement by the
government of the member under review, and a detailed report written
independently by the WTO Secretariat. These two documents are then
discussed by the WTO’s full membership in the Trade Policy Review Body
(TPRB). These documents and the proceedings of the TPRB’s meetings are
published shortly afterwards.
copies of previous TPR publications are available for sale from the
WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211
Genève 21 and through the
TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews
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Norway: 22 and 24 October 2008
Jordan: 10 and 12 November 2008
Dominican Republic: 24 and 26 November 2008
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