Even with Support from CPTPP Member Countries... South Korea's Application Overshadowed by 'Geom-su-wan-bak'

CPTPP Membership Application Delayed to Next Government... Parliament Reports Postponed
Parliament Schedule 'All Stop' Due to 검수완박 Impact... Future Report Schedule Uncoordinated
Some CPTPP Member Countries Support Han's Membership... Concerns Over Negative Impact on External Credibility

People from the People Power Party are holding a picket protest opposing the "Prosecution Investigation and Indictment Rights Separation" (Geomsu Wanbak) in the National Assembly plenary session hall on the 27th. Photo by Dongju Yoon doso7@

[Asia Economy Sejong=Reporter Lee Jun-hyung] The government's plan to expand its economic territory is facing setbacks due to the unexpected variable of ‘Geomsu Wanbak’ (complete removal of prosecutorial investigation rights). The final step required for South Korea's application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is the report to the National Assembly, has been repeatedly delayed because of the Geomsu Wanbak issue.

According to related ministries on the 28th, the Ministry of Trade, Industry and Energy has not finalized the schedule for reporting to the National Assembly regarding the CPTPP membership application. Originally, the ministry planned to report the CPTPP membership promotion plan to the National Assembly's Industry, Trade, and Small and Medium Venture Business Committee on the 25th, but the National Assembly's Legislation and Judiciary Committee was disrupted due to Geomsu Wanbak, leading to the cancellation of the full meeting of the Industry Committee. Conflicts caused by the Geomsu Wanbak bill have spread comprehensively, delaying even ministerial nominee hearings, effectively bringing the National Assembly's schedule to a halt. As a result, the Ministry of Trade, Industry and Energy has not yet coordinated the future reporting schedule.

Due to the delay in the National Assembly's schedule, there is a possibility that the CPTPP membership application will be postponed to the next government. Earlier, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki announced that the application for CPTPP membership would be submitted within the current administration's term, with membership negotiations to be conducted by the next government. Accordingly, the government completed the internal decision-making procedures necessary for CPTPP membership at the Ministerial Meeting on External Economic Relations held on the 15th of this month.

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki is presiding over the Emergency Economic Central Countermeasures Headquarters meeting held on the 28th at the Government Seoul Office in Jongno-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

However, if the report to the National Assembly is not made during the remaining term of just over 10 days of the current government, the CPTPP membership application will be deferred to the next administration. The Ministry of Trade, Industry and Energy, as the responsible ministry, must report related matters to the National Assembly's Industry Committee before starting trade negotiations, according to the ‘Act on Procedures and Implementation of Trade Agreements.’ A ministry official said, “It seems practically difficult to report to the National Assembly on CPTPP next week as well,” adding, “There is a high possibility that the CPTPP membership application will be submitted by the next government.”

The problem is that if the CPTPP membership application is delayed beyond the government's plan, it could negatively affect external trust. The government had previously declared that it would complete the CPTPP membership application within the current administration. Related ministries, including the Ministry of Trade, Industry and Energy, recently conveyed the intention that “membership within this month is the goal” during meetings with ministers of CPTPP member countries.

Meanwhile, on the morning of the same day, Han Han-gu, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, held a meeting with ambassadors from major CPTPP member countries stationed in Korea and confirmed their support for South Korea's membership. The meeting was attended by ambassadors from Singapore, the CPTPP chair country, as well as Mexico and New Zealand, the vice-chair countries, who also expressed strong support for South Korea's CPTPP accession. Some CPTPP member countries, including Brunei and Malaysia, have already expressed their intention to cooperate on membership during recent meetings with the Ministry of Trade, Industry and Energy.

This content was produced with the assistance of AI translation services.