WT/MIN(24)/ST/27  
26 February  2024 
(24-1495) Page: 1/2 
Ministerial Conference  
Thirteenth Session  
Abu Dhabi, 26 -29 February 2024  Original: English  
 
 
STATEMENT BY H.E. DR INKYO CHEONG  
TRADE MINISTER  
REPUBLIC OF KOREA 
Let me first express my sincere appreciation to the government of  the UAE for  its thorough  
preparations at  hosting MC13 and kind hospitality. Korea also joins  in congratulat ing and welcom ing 
Comoros and Timor -Leste for their accession to the WTO at this Conference.  
MC13 comes at a time when the world is facing  numerous challenges, with the WTO itself stand ing 
at a critical juncture of reform. Amidst vast uncertainties,  the rules -based multilateral trading system 
as embodied in the WTO should continue to play a central role in tackling the difficulties  we are 
confronting.  
In this regard, I wish to share Korea 's reflections on how we should navigate the challenges of our 
era.  
First, we should  make  "MC13 a Ministerial  for Reform " 
The previous  Ministerial Conference  saw Member s reach a common agreement  to work towards  the 
reform of the WTO. It is therefore crucial that the reform initiatives discussed thus far must be duly 
reflected in the  outcome document, enabling Ministers to prove their strong political will to the world .  
Not only that, I believe Ministers must engage  in earnest dialogues about the role of the WTO in 
addressing current  global issues, including "Trade and Sustainable Development " and "Trade and 
Inclusion. "  
Most importantly, substantial strides should be made at MC13 towards restoring the dispute 
settle ment system. Indeed, i t should be underscored that MC13 is by no means an end point, but a  
necessary  "check point " in terms of our reform process.   
Second, we should make the "WTO responsive to the changing world " 
Since the WTO 's inception  30 years ago , the global trade environment has  witnessed unprecedented  
change. However, t he WTO  has failed  to keep pace with ongoing developments and update its 
rulebook . Pressing issues such as the  digital transformation, environment  and supply chain 
disruptions must be dealt with in the WTO .  
We need to extend the  e-commerce moratorium, which will provide businesses, especially MSMEs, 
with greater certainty  in digital trade . Furthermore, a meaningful outcome needs to be reached  on 
the Fisheries Subsid ies negotiation to  preserv e fisheries resources and the marine environment. This 
responsibility must be shared by each and every one of us . 
Modernization of the WTO rules can be achieved by adopting new approaches to reinvigorate its 
negotiating function.  For instance,  a successful incorporation of the IFD  agreement  into the WTO 
legal framework would demonstrate  that plurilateral negotiations serve as an efficient means for 
WTO rule -making.  WT/MIN(24)/ST/27  
 
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  Lastly, we should make "trade more inclusive " 
Historically, our foc us has been primarily on trade liberalization, rendering  us unable  to gain support 
from those  who have not fully benefited from trade. Now is the time for the WTO to fix its attention 
on the distributional effects of trade and work to ensure that everyone benefits from it.  
Building upon the successful adoption of Annex 1 for the smooth transition for LDC graduating 
countries, we should strive to deliver a successful outcome in Annex 2 at MC13. Furthermore, the 
WTO needs to discuss ways to facilitate the pa rticipation of MSMEs, women and all other 
disadvantaged groups in trade. In this vein, Korea remains committed to making  the WTO more 
inclusive and looks forward to exchanging views on this matter at MC13.  
There is no better occasion than MC13 for us to n arrow our differences, catalyze conversations on 
WTO reform and map out the path ahead of us. We must and can deliver by exercis ing the same 
spirit of compromise seen at MC12. I look forward to working closely with  all of you in Abu Dhabi – 
and beyond.  
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