South Korea strengthens its global economic ties by officially joining the Future of Investment and Trade Partnership (FIT-P). This strategic move aims to expand its international trade network and collaborate with like-minded economies in addressing mounting protectionism, geopolitical uncertainties, and disruptions impacting multilateral trade systems.
Trade Minister Yeo Han-koo officially confirmed South Korea’s accession during the second FIT-P ministerial meeting, held from Thursday to Friday in Auckland, New Zealand, according to the Ministry of Trade, Industry and Resources. The partnership further expanded its reach to 19 members with the concurrent participation of Thailand and Peru.
Minister Yeo emphasized the critical role of **Korea’s FIT-P membership** in enabling the nation to effectively navigate an evolving global trade landscape. This includes responding to the challenges posed by escalating protectionism and the rapid advancements in disruptive technologies, such as artificial intelligence.
He further stated, ‘We are committed to taking a leadership role in developing innovative trade rules, particularly in crucial areas like **supply chain resilience and digital trade**. Our goal is to forge a more robust institutional framework, empowering Korean companies to confidently expand their global presence within a more stable and predictable environment.’
Established in September 2025 by prominent open, trade-dependent economies including Singapore, New Zealand, Switzerland, and Costa Rica, the FIT-P initiative was formed as a proactive response to the perceived weakening of the traditional multilateral trading system, which historically centered around the World Trade Organization.
The partnership’s core focus lies in fostering practical cooperation across vital domains: **enhancing supply chain resilience**, facilitating trade and investment, and advancing digital trade. These are critical issues that have proven increasingly challenging to effectively address within existing multilateral frameworks.
The Ministry highlighted that this new membership will significantly broaden **South Korea’s global trade network**, extending its reach across Africa, the Asia-Pacific region, Europe, Latin America, and the Middle East. This expansion is particularly crucial as escalating protectionism and geopolitical tensions are prompting nations to seek more agile, flexible coalitions capable of rapid responses to supply chain disruptions and technological shifts.
During the ministerial meeting, Minister Yeo also engaged in productive discussions with his counterparts from several key member countries, the ministry reported.
Minister Yeo and New Zealand’s Trade and Investment Minister Todd McClay affirmed their commitment to deepening cooperation across **supply chains, digital trade**, and critical environmental initiatives. Additionally, Minister Yeo met with Singaporean Deputy Prime Minister Gan Kim Yong to explore expanded collaboration in supply chains and the burgeoning green economy, leveraging enhanced Korea-Singapore and Korea-ASEAN free trade agreements.
Further bilateral discussions saw South Korea explore cooperation with Chile on vital critical minerals, including lithium and copper. Separately, an agreement was reached with Uruguay to advance efforts towards resuming negotiations for a comprehensive trade agreement between Korea and Mercosur.
A significant moment at the meeting was the ceremony celebrating Costa Rica’s formal accession to the Digital Economy Partnership Agreement (DEPA). Notably, South Korea previously became the pact’s inaugural new member, following its founding nations: Singapore, New Zealand, and Chile.
