Seoul: South Korea's finance ministry has pledged to bolster the country's multilateral trade network, emphasizing the government's plan to gather public opinion on the potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

According to Yonhap News Agency, Finance Minister Koo Yun-cheol highlighted the importance of strengthening ties with like-minded nations to stabilize supply chains during a meeting on external economic affairs with related ministers. Koo stated that the government would review the possibility of joining the CPTPP by closely examining the tangible benefits for the national interest and people's livelihoods.

Koo mentioned that joining the CPTPP involves a high level of market opening, and the government would thoroughly analyze its economic effects and the impact on various industries from an objective perspective. The results of this analysis will be presented to the public. The CPTPP is a multilateral trade pact led by Japan, currently comprising 12 members, including Australia, Canada, Mexico, and Britain.

The finance minister also noted that the government would specifically assess the potential impact on the agricultural and fisheries sectors while carefully listening to the opinions of those affected. Should a decision be made to seek membership in the future, Koo assured that effective supplementary measures would be preemptively prepared.

In addition to the CPTPP discussions, the meeting participants explored measures to expand economic cooperation with emerging partners. This includes plans for an upcoming summit between South Korea and Central Asian nations, as well as an economic ministerial meeting with African countries, both scheduled for next month.