The South Korean government said it will open a public debate on whether to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), moving beyond internal review of the economic effects and industry-by-industry impact to gather views from businesses, farmers and fishers before deciding whether to pursue membership.
"We intend to begin in earnest a social discussion and consultation process on joining the CPTPP," Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol said at the 273rd Ministerial Meeting on International Economic Affairs on the 27th.
With the government now formally acknowledging the debate, public discussion over whether to seek membership is expected to gain momentum. The meeting did not settle the question, however. The government said it will analyze the economic effects and sector-by-sector impact in detail, collect views from the field, and then judge whether membership would deliver real benefits to the national interest and to household livelihoods.
Minister of Trade and Industry Kim Jung-kwan also stressed that day that "today's discussion is not a session to decide on CPTPP accession," describing it instead as "a stage where we keep the possibility of membership open and begin full-scale public debate and consultation." The minister added: "The government will not conduct this discussion with a conclusion on membership already decided in advance. We will look closely at what best serves our national interest, what opportunities exist and what burdens are involved."
The CPTPP is a multilateral trade agreement with 12 member countries, built on high-standard trade rules and a stable trading network. The government sees the pact's strategic value coming back into focus as the international trade environment shifts rapidly amid the spread of national-first policies, the restructuring of global supply chains and uncertainty in the Middle East. The aim is to move beyond bilateral trade and economic cooperation with major partners such as the United States and Middle Eastern countries toward regional and multilateral cooperation, building a denser and broader external network.
"We cannot be an exception to these changes," Kim said. "Voices are growing louder that we should actively consider joining the CPTPP in order to respond proactively to a fast-changing trade environment, expand markets for our companies and secure supply chains reliably."
He noted in particular that 11 countries including Indonesia, the United Arab Emirates and China have already filed applications to join in response to the shifting trade landscape, adding that "some argue the discussion is already overdue."
The government will also examine the burdens that membership would bring. While joining the CPTPP offers opportunities in the form of wider export markets, more stable supply chains and participation in settled trade rules, it could impose considerable burdens and raise concerns for certain industries and regions. On that point, Koo said, "We will look closely at whether it genuinely helps the national interest and household livelihoods before judging whether to pursue membership, and we will communicate sincerely throughout that process." Given the high level of market opening involved, the government plans to analyze the economic effects and industry impact objectively and precisely and explain them to the public, paying particular attention to the concerns and effects on the farming and fishing sectors. It also plans to prepare effective domestic support measures in advance.
Even if the government moves to apply, membership would not be confirmed immediately. It would require a lengthy round of negotiations with multiple member countries, followed by ratification approval from the National Assembly.
Beyond the CPTPP, the government is expanding economic cooperation with promising regions including Central Asia and Africa. Using the Korea-Central Asia summit in September as a springboard, it plans to strengthen cooperation in three main areas: critical minerals, energy and supply chains; forward-looking fields such as artificial intelligence and biotechnology; and transport, logistics and talent development.
In September, it will also host the 8th Korea-Africa Economic Cooperation (KOAFEC) ministerial meeting, involving 54 African countries, where it will present a new vision and action plan for Korea-Africa economic cooperation centered on AI and digital transformation. "We will continue to expand the Republic of Korea's economic territory so that our companies and citizens can find new opportunities around the world," Koo said.
