The government is moving quickly to build public consensus on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) because the pact's reach extends beyond economic growth to trade security. With the World Trade Organization system effectively hollowed out amid U.S.-China tensions and major economies turning toward protectionism, multilateral platforms that can counter that shift are growing more important.
Experts say the CPTPP is especially well suited to advancing Korea's strategic interests because it is a "mega free trade agreement" that brings together middle powers committed to free trade. Some also argue that agriculture and fisheries, where output is projected to decline, could see exports rise if the sectors upgrade on the back of the global K-food boom.
Preliminary results of an economic impact analysis released by the Ministry of Trade, Industry and Energy on the 28th show that joining the CPTPP would generate manufacturing output gains averaging up to 6.7 trillion won a year over 15 years — 7.9 times the projected output decline in agriculture and fisheries of about 850 billion won.
An export industry official said the manufacturing figure is a net gain that combines output losses and gains from wider tariff concessions, while the agriculture and fisheries figure counts only the drop in domestic sales from import substitution. "Looking purely at the macroeconomic effect, joining the CPTPP is the rational choice," the official said. A government official said CPTPP members account for about 15% of global gross domestic product and that Korea's trade with the bloc is larger than with the United States or China. "It is a market where we need to strengthen cooperation," the official said. Korea's exports to CPTPP member states came to $164.8 billion last year, exceeding shipments to the U.S. ($122.9 billion) and China ($130.8 billion).
The pact is also expected to help strengthen industrial competitiveness. Japan and Mexico are the only CPTPP members without a bilateral free trade agreement with Korea. In the past, most analysts warned that opening the manufacturing market to Japan would inflict severe damage on domestic industry, but the assessment now is that the two countries could both benefit in materials, parts and equipment as well as in service sectors such as finance and tourism. Calls to open the Mexican market have grown more urgent because Mexico serves as a bridgehead for Korean companies entering North and South American markets. Korean firms operating in Mexico were thrown into disarray last year when the Mexican government raised tariffs by as much as 50% on steel, aluminum and auto parts from countries without a free trade agreement.
Another consideration is that Korea could raise market-opening levels with other members in one step, without separate negotiations to upgrade existing free trade agreements. The CPTPP covers major trade issues across 30 chapters, spanning goods and services trade as well as digital trade, fair trade, and labor and environmental requirements. According to the Korea International Trade Association, the average tariff concession rate among CPTPP members stood at 93.6% as of the end of 2025 and will rise to 98.8% at full implementation, making it one of the more open multilateral trade agreements.
Setting aside those economic effects, trade experts broadly agree that Korea should move quickly. Their argument is that an export-driven economy like Korea's must make maximum use of open, rules-based multilateral trade frameworks such as the CPTPP to survive as trade uncertainty mounts. Deborah Elms, head of trade policy at the Hinrich Foundation, said at a recent forum hosted by the Federation of Korean Industries that the most realistic option for Korea is to use already functioning cooperative structures such as the CPTPP or the Future Investment and Trade Partnership (FIT-P) as "selective partnerships," rather than building new institutions.
Some also warn that barriers to entry will rise if Korea delays and China or others gain membership first, because the CPTPP admits new members only by unanimous consent. Even now, Korea must negotiate tariff concession terms with 12 countries and secure their agreement. A government official said Japan is pushing to host the CPTPP secretariat and wants the bloc's influence to grow. "This is a time when we can find common ground with Japan on the membership question through consultations," the official said.
Others see agriculture and fisheries benefiting from the pact. As global interest in Korean cuisine grows, lower tariffs could further expand exports of Korean farm and marine products. Korea's agricultural and marine food exports topped $10 billion on the 14th this year, the fastest pace on record, according to the Korea Agro-Fisheries & Food Trade Corp. (aT). Song Mi-ryung, Minister of Agriculture, Food and Rural Affairs, has acknowledged that concerns are significant while stressing that the pact also presents opportunities.
