S.Korea likely to seek TPP membership www3.nhk.or.jp
Japan's largest business organization says the South Korean government plans to seek entry into the Trans-Pacific Partnership free trade agreement.
South Korea's trade minister Joo Hyung-hwan met Sadayuki Sakakibara, chairman of the Japan Business Federation, or Keidanren, in Seoul on Monday.
According to Keidanren, Joo said the government will soon make the official decision to take part in the TPP. Joo reportedly asked for support from Japan's government and business sectors for the planned bid to join the deal.
Japan is one of the 12 nations that signed the agreement earlier this year. Seoul can only join the pact after gaining approval from each of those 12 countries.
South Korea has put priority on bilateral free trade deals. But it has been analyzing the contents of the TPP since the 12 countries reached a broad agreement on it in October last year.
Joo's remark suggests that Seoul has concluded that the deal would benefit South Korean firms in exports and investment.
Published Date:2016-10-11