South Korea resolves 62 cases of non-tariff trade barriers in 2024

The logo of the Ministry of Trade, Industry and Energy is seen in this undated photo. Newsis

Korea’s trade ministry said Tuesday it has settled 62 cases of non-tariff barriers this year, helping businesses maintain $9 billion worth of exports.

The World Trade Organization members maintained 4,149 technical barriers to trade (TBT) as of November, up from 4,068 tallied in 2023, according to data compiled by the Ministry of Trade, Industry and Energy.

TBTs, which include consumer safety standards and energy and environmental requirements, are often used as non-tariff restrictions on exports.

“We plan to utilize bilateral and multilateral communication channels and lead global standards for key technologies to address TBTs,” said Jin Jong-wook, head of the standards agency.

The ministry, meanwhile, granted certificates of recognition to 19 business officials, including those from SK On and Hyundai Motor, for making notable efforts to address TBTs. (Yonhap)