Korea Opting to End Self-Designation as Developing Country in WTO Negotiations
South Korea will continue to be classified as a developing country at the World Trade Organization in some respects, but not in negotiations, Reuters reported. "The government decided not to seek special treatment as a developing country from future negotiations…
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at WTO,” Finance Minister Hong Nam-ki said Oct. 25. Developing countries are allowed looser standards on agriculture subsidies in the WTO, and the finance minister emphasized that Korea will continue to protect its agriculture.