With the New Round slated for next year ... South Korea is trying to assess the ripple effects from the W-T-O's liberalization of global trade.
The 10-page declaration adopted at the Doha conference was met in Seoul as a mixed blessing.
For one, officials say the agreement will force South Korea to lower tariffs on farm product imports, which now stand at 60 percent. That means Korea should significantly open up its agricultural markets to inexpensive foreign imports.
The service sectors are also expected to take a hit. According to analysts, the current 49 percent limit on foreign ownership of local communication companies will be eased.
But the opening of markets will prove beneficial for the construction and distribution industries ... giving them a bigger market to export their products.