WTO needs new rules for digital environment: S. Korea's trade minister
Updated: 2020-07-09 17:08:01 KST
South Korea's trade minister Yoo Myung-hee, who is running to be the next head of the World Trade Organization, said Thursday that there need to be new rules at the WTO to properly address the new digital trade environment.
The existing rules, she said, make that difficult.
At a conference Thursday, Minister Yoo said that COVID-19 is accelerating a shift to digitalization in all processes from production to consumption.
She also emphasized the importance of going digital for traditional industries.
She added that South Korea will actively discuss with the global community, either bilaterally or multilaterally, ways to establish new digital trade rules.