Business & MarketsEconomy

South Korea Applies To Join Pacific Trade Partnership, Reducing Trade Reliance On China

Save
South Korea Applies To Join Pacific Trade Partnership, Reducing Trade Reliance On China
(L-R) Trade or foreign ministers of Singapore, New Zealand, Malaysia, Canada, Australia, Chile, Brunei, Japan, Mexico, Peru, and Vietnam pose for an official picture after signing the rebranded 11-nation Pacific trade pact Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Santiago, on March 8, 2018. Claudio Reyes/AFP via Getty Images
Lisa Bian
Updated:

South Korea’s finance minister said the country would begin an application to join a massive Asia-Pacific free trade deal before the end of President Moon Jae-in’s term in office. The trade deal could boost South Korea’s multilateral trade within the region and reduce its import reliance on China.

The “Comprehensive and Progressive Trans-Pacific Partnership Agreement” (CPTPP) is the renegotiated version of the Trans-Pacific Partnership (TPP) after former President Donald Trump withdrew from the TPP in 2017. According to South Korea’s Yonhap News Agency, Trump’s move was widely seen as a key counterweight to China’s growing economic influence.
Lisa Bian
Lisa Bian
Author
Lisa Bian, B.Med.Sc., is a healthcare professional holding a Bachelor's Degree in Medical Science. With a rich background, she has accrued over three years of hands-on experience as a Traditional Chinese Medicine physician. In addition to her clinical expertise, she serves as an accomplished writer based in Korea, providing valuable contributions to The Epoch Times. Her insightful pieces cover a range of topics, including integrative medicine, Korean society, culture, and international relations.
Related Topics