President Lee Jae-myung proposed on October 26 a plan to impose an export levy on companies to compensate the agricultural and fisheries sectors for damages resulting from South Korea's participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This initiative aims to shift away from traditional trade policies that have taken agricultural sacrifices for granted and to ensure that the benefits of trade liberalization are shared with affected industries.
During a 'Dialogue with Farmers' event at the Blue House, President Lee addressed concerns from attendees about the potential impact of CPTPP on the agricultural and fisheries sectors. He stated, "For example, we should consider an export levy. If benefits are based on someone’s sacrifice, at the very least, there should be a burden-sharing mechanism." However, he clarified that this proposal has not yet undergone practical discussions.
Previously, on September 29, President Lee mentioned on his X (formerly Twitter) account the idea of creating a fund from a percentage of the increased export revenue generated by free trade agreements (FTAs) to support industries affected, including agriculture and fisheries.
* This article has been translated by AI.
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