Finance minister vows to expand trade network, review possible CPTPP membership
Korea's finance ministry vowed to make efforts to bolster the country's multilateral trade network, noting the government will begin gathering public opinion on possible membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Finance Minister Koo Yun-cheol made the remark during a meeting on external economic affairs with related ministers, stressing the…
Korea's Finance Ministry pledged to strengthen the nation's multilateral trade network by exploring potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Finance Minister Koo Yun-cheol announced this during a meeting on external economic affairs with relevant ministers, emphasizing the importance of strengthening ties with like-minded countries to stabilize supply chains.
Koo stated that the government will review the possibility of joining CPTPP by carefully evaluating the benefits to national interests and people's livelihoods. He highlighted that joining the agreement could lead to a high level of market opening and will conduct a thorough analysis of its economic effects and impact on various industries from an objective perspective. The results of this analysis will be presented to the public.
The CPTPP is a multilateral trade pact led by Japan, currently comprising 12 members, including Australia, Canada, Mexico, and Britain. Koo mentioned that the government will pay particular attention to the potential impact of CPTPP membership on different industries.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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