Korea, China Likely to Join US-led Trans-pacific Trade Pact

According to multiple government officials on November 29, the South Korean government unveiled its interest in joining the Trans-Pacific Partnership (TPP), an expanded version of the 2005 Trans-Pacific Strategic Economic Partnership Agreement (TPSEP). This move is regarded as the shift of the Korean government’s stance from a cautious attitude to willingness to join it.

The TPP, which aims to abolish tariffs and integrate economies in the Asia Pacific region by 2015, has been joined so far by 12 countries, including the US, Japan, Australia, Peru, and Malaysia.