Director Yeohan-gu Discusses Cooperation with UK and International Organizations Ahead of CPTPP Membership Application

Yeohan Gu, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, is speaking at a meeting with the export-import logistics industry held on the 5th at the Korea Trade Insurance Corporation in Jongno-gu, Seoul. Photo by Moon Honam munonam@

[Asia Economy Sejong=Reporter Dongwoo Lee] The government has stepped up efforts to enhance cooperative relationships with major countries and international organizations in line with the rapidly changing global trade paradigm.

According to the Ministry of Trade, Industry and Energy on the 7th, Yeohangoo, the Chief Negotiator for Trade, will visit London for two days from today until the 8th. This visit is part of commemorating the first anniversary of the Korea-UK Free Trade Agreement (FTA) and exploring cooperation measures between the two countries after Brexit.

During this period, Chief Negotiator Yeoh will hold the 1st Korea-UK FTA Trade Committee meeting with the trade ministers of both countries. This is to discuss key issues such as supply chains, digital economy, and carbon neutrality amid the rapidly changing trade environment. Yeoh evaluated that the Korea-UK FTA has greatly contributed to securing continuity and stability of business between the two countries after Brexit. Building on this, plans are underway to pursue negotiations to upgrade the FTA in the future.

Subsequently, he will move to visit the UK Parliament. He plans to continue discussions with members of the House of Commons International Trade Committee on the Korea-UK FTA and CPTPP, as well as on the New Southern Policy and Indo-Pacific strategy to further deepen trade cooperation between the two countries. Afterwards, he will meet with Kitack Lim, Secretary-General of the International Maritime Organization (IMO), to discuss greenhouse gas reduction in the shipbuilding and marine sectors and the data standardization work necessary for the commercialization of autonomous ship navigation.

The active participation of Chief Negotiator Yeoh in the bilateral trade committee is driven by the Korean government’s upcoming official application for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) scheduled for April. The CPTPP is a multilateral trade agreement involving 11 countries. It accounts for 13% of global GDP and 15% of trade volume respectively. Since the UK applied for CPTPP membership in February last year and is currently negotiating accession with member countries, it has become possible to discuss concrete cooperation measures with the Korean government.

The government intends to actively prepare for the new order, especially as major global trade issues are concentrated this year. Earlier this month, the Regional Comprehensive Economic Partnership (RCEP) officially came into effect domestically, signaling a major transformation in the export competitiveness of the Korean economy. The government aims to actively lay the groundwork to advance toward a new trade multilateralism through mega economic blocs such as the CPTPP.

Meanwhile, Chief Negotiator Yeoh will move to Geneva, Switzerland on the 9th and 10th to continue consultations with major international organizations. He will exchange views with Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), on rapidly evolving trade issues including COVID-19 response, carbon neutrality, and e-commerce, and discuss international standardization issues in key technology fields such as artificial intelligence (AI), autonomous vehicles, semiconductors, and healthcare with Franke, President of the International Organization for Standardization (ISO). He also plans to continue trade cooperation discussions through separate meetings with Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), and Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC).

This content was produced with the assistance of AI translation services.