South Korea is interested in joining the Trans-Pacific Partnership trade group and the parties involved, which include the US, Australia and Japan, are looking to complete talks by the end of the year. If South Korea joins this partnership, it would be the fourth largest member economy and the country would gain support for currently developing trade deals while also strengthening its trade relationship with the US. However, South Korea is also concerned about the effect of the decision on its current bilateral free trade agreements and its dairy and beef farming, due to competition from Australia and New Zealand. The president’s chief economic adviser, Mr. Cho, is optimistic about the continued stability of the Korean won, but wants to explore the terms extensively before reaching a decision.

Original article by Simon Mundy published on October 27, 2013 in Financial Times:

http://www.ft.com/intl/cms/s/0/e675c4d8-3c85-11e3-a8c4-00144feab7de.html#axzz2j4Dijad1