Traditional knowledge (TK) refers to knowledge created, preserved, and transmitted within the cultural identity and lived experience of Indigenous peoples and local communities (IPLC). TK cannot be fully protected by existing intellectual property systems alone. While World Intellectual Property Organization (WIPO) adopted the 2024 Treaty on Intellectual Property, Genetic Resources and Associated Traditional Knowledge, TK protection itself remains unresolved. In particular, provider and user countries continue to disagree on the form of protection and the criteria for protected subject matter. This study examines the key issues in WIPO Intergovernmental Committee (IGC) discussions on protecting TK. It reveals that the IGC’s main concern is the protection of IPLC’s TK, reviews the general concept and characteristics of TK, and compares the rights and measures-based approaches. It also analyzes the differing positions under Article 3 of the draft instrument: Provider countries favor broader protection aligned with the general concept of TK, whereas user countries support narrower, more specific eligibility requirements. As a user country, Korea requires a balanced negotiation strategy that supports innovation while meeting international protection obligations.