South Korean Trade Minister Yeo Han-koo (Yonhap) South Korea has joined the Future of Investment and Trade Partnership (FIT-P) to expand its global trade network and work with like-minded economies to tackle rising protectionism, geopolitical tensions and disruptions to multilateral trade.Trade Minister Yeo Han-koo formalized Korea’s accession at the second FIT-P ministerial meeting held Thursday to Friday in Auckland, New Zealand, the Ministry of Trade, Industry and Resources said Friday. Thailand and Peru also joined the meeting, expanding the partnership to 19 members."Korea's FIT-P membership will help the country respond to a changing trade environment shaped by protectionism and rapid advances in technologies, including artificial intelligence," Yeo said.“We will take the lead in developing new trade rules in areas such as supply chain resilience and digital trade, and build a stronger institutional foundation for Korean companies to expand globally in a more stable environment."Launched in September 2025 by open, trade-dependent economies including Singapore, New Zealand, Switzerland and Costa Rica, FIT-P was created in response to the weakening of the multilateral trading system centered on the World Trade Organization.The group focuses on practical cooperation in areas including supply chain resilience, trade and investment facilitation and digital trade — issues that are increasingly difficult to address through existing multilateral frameworks.The ministry said the membership would expand Korea’s global trade network across Africa, the Asia-Pacific region, Europe, Latin America and the Middle East, as rising protectionism and geopolitical tensions drive countries toward smaller, more flexible coalitions able to respond quickly to supply disruptions and technological change.On the sidelines of the meeting, Yeo held talks with counterparts from key member countries, the ministry said.Yeo and New Zealand Trade and Investment Minister Todd McClay agreed to deepen cooperation in supply chains, digital trade and environmental issues. Yeo also met Singaporean Deputy Prime Minister Gan Kim Yong to discuss expanding cooperation in supply chains and the green economy through upgraded Korea-Singapore and Korea-ASEAN free trade agreements.In separate meetings, Korea discussed cooperation with Chile on critical minerals including lithium and copper, and agreed with Uruguay to work toward resuming negotiations on a trade agreement between Korea and Mercosur.The meeting also included a ceremony marking Costa Rica’s accession to the Digital Economy Partnership Agreement, or DEPA. Korea became the pact’s first new member after its founding members, Singapore, New Zealand and Chile.