SEOUL, Oct 26 (Reuters) – South Korean President Lee Jae Myung said on Monday that the country would not be able to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during his term.
“We need to obtain permission from all 12 member countries” in the partnership if South Korea applies, Lee said at a meeting with farmers, fishermen and forestry workers. “The possibility that it will not be completed within my term is far higher.” Lee’s term runs until June 2030.
Lee instructed his ministers earlier this month to not pursue an application to join the trade group, citing significant impact on South Korean farmers.
The CPTPP came into force in 2018, replacing the Trans-Pacific Partnership which fell apart after the US withdrew.
(Reporting by Heejin Kim; editing by Lincoln Feast.)
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