U.S. Declares End of WTO System, Sparking Global Trade Shift

Seoul: The United States has declared the end of the World Trade Organization (WTO) system, marking a significant shift in global trade dynamics. This development has been prominently featured in major South Korean newspapers, capturing widespread attention.According to Yonhap News Agency, multiple Korean-language dailies reported on the U.S.'s announcement, reflecting the potential implications for international trade. The U.S. Trade Representative (USTR) has proclaimed the beginning of a new trade order, as reported by Donga Ilbo, while newspapers like Chosun Ilbo highlighted potential domestic impacts, such as Lee's anticipated immunity to controversial figures, which could affect the rule of law.JoongAng Ilbo and Maeil Business Newspaper echoed the declaration, noting the end of a 30-year-old WTO system. Furthermore, Korea Economic Daily emphasized the USTR's statement on the cessation of the multilateral free trading system, underlining a pivotal transition in global economic relations.Hankook Ilbo also reported on related domestic developments, such as the special prosecution targeting the People's Power Party (PPP) leadership in a martial law probe, indicating a broader context of legal and political shifts within South Korea.