South Korean government said on Friday that it reached an agreement on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It plans to submit an official application before the end of President Moon Jae-in's term on May 9, Yonhap reported.
"The envisioned entry carries significance, as it would help us better respond to fast-changing global circumstances and ensure stable supply chains in the Asia-Pacific region," South Korea's Trade Minister Yeo Han-koo (pictured) said. The trade partnership currently has 11 members, including Australia, Mexico and Japan, while the United Kingdom, China, Ecuador and Taiwan have applied for membership.
