GDP projected to grow 0.38% over 10 years following CPTPP membership
Korea's economy is projected to grow by 0.38 percent over the 10 years following its potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the industry ministry said Monday. The government released the projection after conducting a comprehensive analysis of the potential impact of Korea's CPTPP membership on the macroeconomy, manufacturing and…
Korea's economy is expected to experience a 0.38 percent growth over the next decade if the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to a projection released by the industry ministry. The government conducted an extensive analysis of the potential impact of CPTPP membership on the macroeconomy, manufacturing, small and medium-sized enterprises (SMEs), agriculture, fisheries, and forestry sectors.
The Ministry of Trade, Industry and Resources (MOTIR), along with other relevant ministries and research institutes, participated in the assessment. The latest estimate indicates that Korea's gross domestic product (GDP) would be 0.38 percentage points higher on a cumulative basis during the first decade following CPTPP membership compared to the scenario where the country does not join the trade pact.
The production impact would be felt across various sectors, including manufacturing and agriculture.
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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