The South Korean government has reignited discussions on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). As the economy calls for urgent membership to expand trade territory, strong opposition from the agricultural sector poses a significant challenge to reaching a resolution.
According to Yonhap News Agency, Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol announced on August 27 that the government would begin social discussions and gather opinions regarding CPTPP membership. South Korea had previously expressed its intention to join in 2021, but faced fierce backlash from the agricultural sector and concerns over the import of seafood from Fukushima, Japan, leading to a loss of momentum without even a report to the National Assembly. The current administration has maintained a cautious stance, but recently, Minister of Trade, Industry and Energy Kim Jeong-kwan hinted at a review of membership, bringing the issue back to the forefront.
The CPTPP is a multilateral trade agreement involving 12 countries, including Japan, Mexico, and the United Kingdom, accounting for 14.3% of global GDP and achieving a tariff elimination rate of 99%. The Korea International Trade Association recently warned in a report that if South Korea joins, trade conditions with countries like Japan and Mexico, with which it has no free trade agreements, would improve, and the country could directly integrate into a vast regional value chain. Delaying participation could result in significant opportunity costs.
However, concerns from the domestic agricultural sector remain high. The Korea Federation of Agricultural Management Associations issued a statement urging a halt to discussions, stating that additional market openings could significantly impact domestic agriculture. The Ministry of Agriculture, Food and Rural Affairs has also maintained that the potential damage to the agricultural sector should not be underestimated.
As the government commits to thorough opinion gathering, experts emphasize that to avoid repeating past mistakes, strong determination from the government and comprehensive support measures for those affected are essential. Sogang University Professor Heo Yoon pointed out that if the government and ruling party do not firmly resolve the issue, it could become politicized and discussions may fade away as they did in the past. He also advised that rather than establishing a separate special law for compensation, the accessibility of the existing Trade Adjustment Assistance Program should be eased to provide practical help.
Jang Sang-sik, head of the International Trade and Commerce Research Institute at the Korea International Trade Association, also stressed the need to develop various compensation measures to enhance the competitiveness of the struggling agricultural sector while minimizing the extent of market opening.
* This article has been translated by AI.
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