President Lee pledges safeguards for farmers and fishers amid CPTPP talks
President Lee Jae Myung told agricultural and fisheries leaders that his administration will prevent any unfair harm as South Korea weighs CPTPP membership.
During a gathering in Seoul with leaders from agriculture, fisheries, forestry and livestock, President Lee Jae Myung recognized the concerns of these producers over South Korea's possible accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. He promised that the government will act to ensure no unfair loss occurs and has ordered officials to base any decision on thorough dialogue with the affected groups.
Lee reiterated that the agricultural and fisheries sectors are vital strategic and security industries for the country. Although he highlighted the potential boost to exports that CPTPP could bring, he also noted that opening markets may negatively affect domestic producers. The president previously halted any application for CPTPP this year, pending further consultations. He framed securing the trade pact as essential for moving the Korean economy to the next level.
Why it matters
The pledge affects South Korea's trade policy and the livelihoods of farmers and fishers who fear competition from CPTPP markets.
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