Lee Jae-myung: "Joining the CPTPP Is Unavoidable"

President Lee Jae-myung said that joining the CPTPP (a multilateral free trade agreement involving 12 countries in the Asia-Pacific region) is "unavoidable." Speaking at a "Dialogue with Farmers and Fishermen" held at the Yeongbin-gwan hall of the presidential office on the 26th, he said, "I have directed that we not file the application within this year and instead engage in sufficient consultation first." As for the timing of accession, he noted, "Even if we started right away, it would hardly be completed within my term," adding that "negotiations take a great deal of time."

President Lee said, "South Korea is a trading nation — if we alone opt out, can we really maintain our standing as a trade and commerce power? That is the government's concern: whether this would be the right decision for the future of the country as a whole." He added, "We have no choice but to make a big-picture judgment based on the long term and the greater good." He went on to say, "I won't be seeking a second term, so please don't worry."

As a way to compensate for losses in the farming and fishing sectors, the president mentioned an 'export levy' system, under which companies that benefit from exports would share in the losses borne by farmers and fishermen, as well as an increase in 'direct payments for public goods.' He said, "Any new agreement is bound to create winners. Taking a portion of those gains and putting it toward preservation would be no loss at all." He suggested, "For example, shouldn't we introduce something like an export levy?" He also said, "Raising direct payments for public goods is likewise a clear task for the government."