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Gov't to create new sector, area-specific trade agreement model

Published: 10 Dec. 2025, 09:57

Trade Minister Yeo Han-koo speaks at a ceremony marking the 16th import day in Seoul on Dec. 9 in this photo provided by his office. [MINISTRY OF TRADE, INDUSTRY AND RESOURCES]

The Ministry of Trade, Industry and Resources will work to create a new trade agreement model aimed at expanding ties only in specific areas, such as supply chains, green economy or artificial intelligence, ministry officials said Wednesday.

The ministry plans to come up with standardized templates for such a new trade agreement model for each sector by the end of this year and use them in FTA upgrade negotiations with Singapore and the Association of Southeast Asian Nations (Asean) planned for early next year, according to the officials.

The push for such a model comes as traditional FTAs lack flexibility because they cover all areas at once, even when cooperation is needed only in limited areas, they noted.

"The new modular-approach trade agreement will be a new cooperation model designed to allow us to lead in setting future-oriented trade norms amid the rapidly changing trade environment," Trade Minister Yeo Han-koo was quoted as saying in a meeting with experts to gather opinions on the envisioned new trade agreement model.

"We aim to build a trade network that provides tangible benefits to Korean companies," he added, according to the ministry.

Yonhap