President Lee: “Don’t apply for CPTPP membership this year; restoring trust with farmers and fishers comes first”

[Financial News] President Lee Jae-myung instructed officials on the 8th not to apply to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) this year. The aim is to fully hear the views of farmers and fishers and restore trust between them and the government before pursuing accession.
In a written briefing that day, Senior Presidential Spokesperson Kang Yoo-jung said President Lee had asked the relevant ministries to engage in sustained dialogue with farmers and fishers in good faith, rather than setting a deadline.
Kang said, “There were reports and discussions about joining the CPTPP at last Tuesday’s State Council meeting,” and explained, “It was suggested that, for South Korea’s accession to the CPTPP to be discussed at the CPTPP ministerial meeting scheduled for November this year, the plan to hold a public hearing would have to be announced in the official gazette by mid-October at the latest.”
She continued, “Amid rapid changes in the international trade order, the CPTPP is an option that the Republic of Korea, which aspires to be a global trading nation, should carefully consider,” but added, “Trade policy is directly tied to people’s lives.”
She stressed, “It must be pursued on the basis of trust and understanding with farmers and fishers, who are facing particular hardship,” adding, “Above all, restoring trust between the government and farmers and fishers comes first.”
The government also plans to cover the shortfall in the Agricultural and Fishing Village Mutual Growth Cooperation Fund with public funds. Kang said, “Of the 1 trillion won pledged for the Agricultural and Fishing Village Mutual Growth Cooperation Fund at the time of the National Assembly’s ratification of the Korea-China FTA in 2015, the shortfall of 700 billion won will be covered by government funds.”
She added, “The People’s Sovereignty government will review the issue of joining the CPTPP through full communication, guided by the principle that no one among the public, including farmers and fishers, should be left behind.”
[email protected] Seong Seok-woo Reporter