Koo Yun-cheol, Deputy Prime Minister and Minister, said on the 27th that the government "intends to begin in earnest the societal discussion related to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)."
The CPTPP is a free trade agreement (FTA) that countries in the Asia-Pacific region participate in. If a country joins the CPTPP, tariffs on most traded goods among member states are virtually eliminated. In the past, the Korean government also pursued joining the CPTPP, but it fell through due to opposition from the agriculture and fisheries sectors.
That day, Deputy Prime Minister Koo said at the external economic ministers' meeting he chaired at Government Complex Seoul, "We will closely examine whether it will provide tangible help to the national interest and people's livelihoods to determine whether to push for accession, and we will communicate sincerely in the process."
He added, "Because the level of market opening is high, we will analyze the economic effects and industry-specific impacts objectively and precisely and explain them to the public," and said, "In particular, we will carefully look into the concerns and impacts on the agriculture and fisheries sectors, fully gather on-site opinions, and, when we later pursue accession, proactively prepare effective domestic complementary measures."
Earlier, Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources, who said in the second-half work report that he would review joining the CPTPP, said that day, "Amid the spread of protectionism, the reorganization of global supply chains, and uncertainty in the Middle East situation, the importance of a stable trading order is greater than ever," adding, "Eleven countries, including Indonesia, the United Arab Emirates (UAE), and China, have already applied to join the CPTPP, and we, too, cannot be an exception to this change."
He continued, "Today's discussion is not a venue to decide on joining the CPTPP, but a stage to keep the possibility open and begin full-fledged public debate and opinion gathering," adding, "Applying to join does not mean immediate accession, and there remains a long process of negotiations with multiple member states and ratification consent by the National Assembly. We will seek a direction that maximizes the national interest and that our society can accept."
Meanwhile, the Ministry of Agriculture, Food and Rural Affairs said that day, "Because the CPTPP is an issue of great concern to the agricultural sector, whether to push for accession should be decided after fully communicating with the agricultural sector, the key stakeholder," adding, "In the forthcoming societal discussion process, we will communicate sufficiently with farmers and faithfully convey the agricultural sector's voice."