South Korea to give up developing country status in WTO talks

Published October 25, 2019, 12:00 AM

by manilabulletin_admin

By Reuters 

South Korea has decided to give up its developing country status in future negotiations at the World Trade Organization (WTO), the finance minister said on Friday.

FILE PHOTO: A South Korean flag covers a ceremonial guard member prior to the arrival of South Korea’s President Moon Jae-in at the White House in Washington, U.S., April 11, 2019. (REUTERS/Carlos Barria / MANILA BULLETIN)
FILE PHOTO: A South Korean flag covers a ceremonial guard member prior to the arrival of South Korea’s President Moon Jae-in at the White House in Washington, U.S., April 11, 2019. (REUTERS/Carlos Barria / MANILA BULLETIN)

Late in July, US President Donald Trump urged the WTO to change how it designates developing countries, singling out China, with which the United States is engaged in a trade war, for unfairly getting preferential treatment.

South Korea was among the nations that designated themselves as developing countries.

 
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