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Korea hosts forum on trade remedies

A forum was held Thursday led by the Korea Trade Commission, a quasi-judicial body under the Ministry of Trade, Industry and Energy, to discuss trade remedy rules and promote global fair trade.

The 2017 Seoul International Forum on Trade Remedies was attended by Vice Trade Minister Lee In-ho, 15 representatives from 14 overseas trade agencies and some 300 experts.

Korea Trade Commission Chairman Shin Hi-tack (sixth from right, front row) and representatives of trade remedy agencies from across the world pose for a photo at the 2017 Seoul International Forum on Trade Remedies in Seoul on Thursday. (Trade Ministry)
Korea Trade Commission Chairman Shin Hi-tack (sixth from right, front row) and representatives of trade remedy agencies from across the world pose for a photo at the 2017 Seoul International Forum on Trade Remedies in Seoul on Thursday. (Trade Ministry)

During two separate sessions, representatives and experts shared views on anti-dumping measures, countervailing duties and safeguard actions, as well as the need to improve World Trade Organization regulations on the back of rising protectionism around the globe, the ministry said.

“The recovery of the global economy requires all countries’ united efforts to continue, not stranded by the strengthening protectionism,” Lee said in his congratulatory speech.

Between the two sessions, the Korea International Trade Association hosted a networking luncheon for the overseas representatives and Korean companies, including LG Electronics, Posco, OCI and Kumho Petrochemical.

Around 100 experts and representatives from domestic corporations participated with their discussion pivoting around anti-dumping measures.

The ministry also held closed bilateral meetings with representatives from Korea’s seven major trade partners -- US, India, Mexico, China, Brazil, the European Union and Australia -- and the WTO, to discuss on import restrictions currently imposed on Korean companies and trade remedy measures.

(ws@heraldcorp.com)

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