Seoul to consider changing preferential trade treatment for developing nations: Finance Minister
- 5 years ago
South Korea's finance chief is suggesting Seoul should consider whether to maintain the preferential trade treatment it gives to some developing countries,... as others that don't receive the same benefits are raising questions at the World Trade Organization.
Hong Nam-ki's remarks this morning are the first time such a possibility has been raised during an economic ministerial meeting.
Hong said the government will respond by putting South Korea's national interests first and by analyzing internal and external trends, and the effect such a change could have on the local economy.
He insisted any change would not affect any deals already in place, but would shape decisions on whether they can continue receiving the same treatment in future deals.
Hong Nam-ki's remarks this morning are the first time such a possibility has been raised during an economic ministerial meeting.
Hong said the government will respond by putting South Korea's national interests first and by analyzing internal and external trends, and the effect such a change could have on the local economy.
He insisted any change would not affect any deals already in place, but would shape decisions on whether they can continue receiving the same treatment in future deals.