Deputy Prime Minister and Finance Minister Koo Yun-cheol speaks during an emergency economic meeting at the government complex in central Seoul on Aug. 27.NEWS1
The government has begun a full-scale effort to gather public opinion on whether Korea should join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a move widely seen as the start of a formal public debate with an eye toward eventually seeking membership in the multilateral trade bloc.
“We intend to begin full-scale public discussions and consultations on joining the CPTPP to strengthen cooperation among middle powers, stabilize key supply chains and diversify export markets,” Deputy Prime Minister and Finance Minister Koo Yun-cheol said during a meeting of economy-related ministers on Thursday.
Launched in 2018, the CPTPP is a major FTA involving 12 countries, including Japan, Australia, Canada, Britain and Mexico. Its members account for about 15 percent of global GDP. Eleven other countries, including China and Indonesia, have also applied to join.
Membership would lower trade barriers with Mexico, with which Korea does not yet have a bilateral FTA, while providing greater market access in trade with Japan than under the Regional Comprehensive Economic Partnership (RCEP), the world's largest FTA.
Previously, the Korean government had maintained a more cautious stance on joining the CPTPP.
The matter has been raised repeatedly since the Moon Jae-in administration, but the government at the time failed to move beyond reporting it to the National Assembly amid opposition over several issues, including the release of treated water from Japan's Fukushima nuclear power plant and imports of Japanese seafood.
Industry and Minister of Trade, Industry and Resources Kim Jung-kwan speaks during a meeting of economy-related ministers at the government complex in central Seoul on Aug. 27.YONHAP
The renewed push comes as the global trade environment changes rapidly. As external uncertainty grows amid higher U.S. tariff barriers and rising protectionism, the government is once again placing greater importance on joining the CPTPP.
“Some are even saying that Korea is already late to the discussion,” Industry and Minister of Trade, Industry and Resources Kim Jung-kwan said.
However, Kim stressed that “even if we decide to pursue an application for membership, that does not mean Korea will automatically become a member.”
The biggest obstacle is opposition from the agriculture and fisheries sectors. The CPTPP requires a significantly higher degree of market opening than many existing FTAs. The average tariff elimination rate for agricultural and food products among CPTPP members stands at 96.3 percent, according to the Korea Rural Economic Institute.
Korean Successor Advanced Farmers Federation released a statement Thursday that joining the CPTPP will be a “death sentence” for domestic agriculture among farmers.
“We urge the government to immediately halt trade policies that come at the expense of agriculture, and if it presses ahead, we will not hesitate to fight to stop it,” the federation said.
The Ministry of Agriculture, Food and Rural Affairs also issued a separate statement the same day, saying any decision to pursue membership should come only after sufficient consultation with the agricultural sector.
“The need to join the CPTPP has grown even greater than in the past as the United States and China retreat from the free trade order,” said Heo Yoon, a professor at Sogang University's Graduate School of International Studies. “From a trade policy perspective, there is a clear need for membership.”
“But the government and the ruling party will need to show strong commitment and persuade the National Assembly and affected stakeholders.”
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
