Amidst escalating tension among large economies around the world, deepening global economic uncertainty caused by the COVID-19 pandemic, and geopolitical and economic instability triggered by the war in Ukraine, the MC12 securing the Geneva Package deserves to be evaluated as a success. Of course, MC12 concluded unsatisfactorily. The Geneva Package even includes self-conflicting clauses that may erode its effectiveness. Notwithstanding such inadequacy and flaws, it is still an achievement in that no negotia-tions have been concluded over the past 21 years on this matter. As soon as the summer break ends, WTO negotiations will soon resume and follow-up issues to MC12 are waiting to be dealt with. However, these negotiations are not likely to pace up the speed. Not only will it be no simple matter for the Member countries to evaluate the outcomes of the MC12, but many of the follow-up issues are in sharp contrast among Member countries. After all these considerations, what Korea should do from this point on is to prepare for and participate in follow-up WTO negotiations. This is because the rule-based multilateral trading system in place bears first and foremost significance to any open economies including Korea. At the same time, it is also necessary and probably smart for Korea to take a multi-layered strate-gy simultaneously utilizing regional negotiations such as the Indo-Pacific Economic Framework (IPEF) or Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), along with WTO multilateral/plurilateral negotiations, as the prospects for the WTO still remain at risk.