Seoul: The government of South Korea is set to begin the collection of data on foreign trade barriers that adversely impact the nation's export activities, with plans to release an annual trade barrier report starting next year, officials announced Thursday.

According to Yonhap News Agency, the Ministry of Trade, Industry and Resources will conduct an investigation from Friday until February 13, examining 17 types of trade barriers, such as import regulations, customs regulations, and rules of origin, across 25 trading partners. These barriers have been identified as significant challenges for South Korean companies operating internationally.

The findings from this investigation will form the basis of a comprehensive trade barrier report, akin to the National Trade Estimate Report on Foreign Trade Barriers published annually by the Office of the U.S. Trade Representative. The South Korean ministry plans to release this report in the first half of the coming year.

The ministry believes that this report will be instrumental in facilitating negotiations with trading partners, ultimately striving to establish a more favorable business environment for the nation's industries. By identifying and addressing these barriers, South Korea aims to enhance its export capabilities and secure better trading conditions for its firms globally.