Seoul to start publishing report on trade barriers akin to USTR's annual NTE report from 2026

Trade Minister Yeo Han-koo speaks at a trade promotion meeting in central Seoul, Tuesday. Courtesy of Ministry of Trade, Industry and Resources

The trade ministry said Tuesday it will issue regular reports on foreign trade barriers starting next year to better respond to foreign policies adversely affecting Korean companies.

The Ministry of Trade, Industry and Resources unveiled the plan at a public-private conference on trade barrier response, attended by government officials and business associations from various industries, including battery, steel and biopharmaceuticals.

The report is expected to be similar to the National Trade Estimate (NTE) Report on Foreign Trade Barriers annually issued by the office of the U.S. Trade Representative (USTR).

Under the trade deal reached late last month between Seoul and Washington, the two sides agreed to address various trade barriers, including some of those listed on the NTE report, such as Seoul's regulations on digital services and automobile imports.

The ministry said it will create a database of foreign trade barriers hindering Korean firms' overseas business and analyze their impact to help create a more favorable business environment for domestic industries.

"Korea has concluded trade negotiations with the U.S., but we need to continue a more proactive trade policy to address trade barriers as the global trade environment has entered a structural new normal," Trade Minister Yeo Han-koo said.