Korea unlikely to join CPTPP by 2030
President Lee Jae Myung said Monday that Korea is unlikely to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during his term, but stressed the need to lay the groundwork despite political criticism, while protecting farmers and fishers from losses. Speaking at a meeting with representatives from the farming, livestock, forestry and fisheries sectors at…
Korea is unlikely to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during President Lee Jae Myung's five-year tenure, which concludes in June 2030, according to his recent remarks. Despite potential political backlash, Lee emphasized the necessity of preparing for the agreement, even as he acknowledged the criticism it may face.
The CPTPP, a trade bloc consisting of 12 nations, including significant powers like Japan, the United Kingdom, Canada, and Australia, encompasses roughly 15% of the global Gross Domestic Product. Consequently, it ranks among the world's most extensive free trade alliances. Although Lee acknowledged the potential for lengthy negotiations given the agreement's vast scope, he maintained that the groundwork for future collaboration must be laid, even if membership is not achieved within his presidential term.
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- Korea unlikely to join CPTPP by 2030 koreatimes.co.kr
