October 23, 2013

South Korea is exploring the possibly of joining the Trans-Pacific Partnership (TPP), a multilateral trade agreement by the United States. The United States is pursuing negotiations with 12 countries, including: Japan, Australia, Brunei, Canada, Chile and Malaysia. Korean Deputy-Trade Minister Choi-Kyong-lim says he understands the importance of the agreement and wants to proceed carefully. The United States sees the agreement as an organic move for South Korea, considering the existing free trade agreement between the two countries. The TPP is intended to increase the U.S’s economic growth in the Asia-Pacific region in light of the rise of China. South Korea is currently looking to establish a bilateral agreement with China. The U.S. expects to conclude TPP negotiations by year’s end.

Article source: http://www.globalpost.com/dispatch/news/yonhap-news-agency/131023/seoul-still-cautious-over-entry-us-led-multilateral-trade-ta