S. Korea Settles 62 Cases of Non-Tariff Trade Barriers in 2024.

Seoul: South Korea's trade ministry announced on Tuesday that it has resolved 62 cases of non-tariff trade barriers this year, aiding businesses in preserving exports worth approximately US$9 billion. This achievement underscores the country's commitment to maintaining a robust export environment amidst a challenging global trade landscape. According to Yonhap News Agency, the World Trade Organization members had imposed 4,149 technical barriers to trade (TBT) as of November, an increase from 4,068 recorded in 2023. These TBTs, which encompass consumer safety standards and energy and environmental requirements, are frequently employed as non-tariff restrictions on exports. Jin Jong-wook, head of the standards agency, stated, "We plan to utilize bilateral and multilateral communication channels and lead global standards for key technologies to address TBTs." The ministry's proactive stance is aimed at reducing trade barriers through strategic communication and leadership in establishing global standards. I n recognition of efforts to tackle these barriers, the ministry awarded certificates to 19 business officials, including representatives from SK On Co. and Hyundai Motor Co. These individuals have made significant contributions towards addressing TBTs, aligning with the government's objective to support and enhance the export sector.