South Korea to Bid for TPP Membership
Seoul, Dec. 13 (Jiji Press)--South Korea will begin procedures needed for its bid to join the Trans-Pacific Partnership free trade agreement, the country's economy and finance minister, Hong Nam-ki, said Monday.
Seoul will launch work to gain consensus among the public and necessary discussions about the country applying for TPP membership, Hong, also deputy prime minister, said at a meeting of relevant ministers.
The South Korean government is expected to make an official bid after advancing necessary internal procedures.
Seoul, out of consideration for Beijing, had previously distanced itself from the TPP, which it saw as a regime aimed at countering China.
In December 2020, however, South Korean President Moon Jae-in showed for the first time his nation's plan to consider joining the TPP, whose members include Japan. In September this year, China and Taiwan applied to become TPP members, pushing South Korea to accelerate its preparations for seeking membership of the trade pact.
[Copyright The Jiji Press, Ltd.]