Minister for Trade Inkyo Cheong of the Republic of Korea is attending the G20 Trade Ministerial on October 24 in Brasília, Brazil, as Chief Delegate of the Korean government.


Under the slogan “Building a Just World and a Sustainable Planet,” trade ministers engage in discussions on four agenda items: World Trade Organization (WTO) reform and a stronger multilateral trade system; global trade and women; trade and sustainable development; and investment treaties and sustainable development.


During the first session, Trade Minister Cheong highlights the importance of the WTO-centered multilateral trade system, calling for members’ interest and support towards reforming the WTO dispute settlement system. Introducing Korea’s policy efforts such as the global acceleration program for empowering female entrepreneurs and promoting their wider global trade participation, he emphasizes the importance of inclusive economic growth.


In the second session, he underscores the need to balance trade and sustainable development and urged the G20 members’ support for the Carbon Free Energy (CFE) Initiative led by Korea. Furthermore, he maintains that the WTO’s Investment Facilitation for Development (IFD) Agreement will contribute to the sustainable development of developing countries, for which he stresses the need for its swift legal incorporation into the WTO structure.


The trade chief will also have bilateral talks with counterparts of other G20 members to discuss pending trade issues. On October 25, he takes part in the B20 Trade Ministerial in São Paolo where he introduces Korea’s trade policy directions and preparations for the Asia-Pacific Economic Cooperation (APEC) 2025. On the margins of his visit, he plans to meet with Korean businesses operating in Brazil and seek to resolve business challenges.