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Should Korea Join the Trans-Pacific Partnership?

Author

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  • Jeffrey J. Schott

    (Peterson Institute for International Economics)

  • Cathleen Cimino

    (Peterson Institute for International Economics)

Abstract

Despite a lack of consensus among Koreans, Korean officials recognize that—sooner or later—Korea will need to be part of the Trans-Pacific Partnership (TPP). Jeffrey J. Schott and Cathleen Cimino conclude that Korea should seek to join the TPP as soon as possible if it can manage its bilateral trade issues with Japan in a pragmatic way. If politics and economic sensitivities prevent such a step, Korea should encourage TPP participants to institute an “open enrollment” period soon after the TPP deal is signed and immediately take advantage of it. Korea should also try to conclude an ambitious trade deal with China, paving the way for China to join TPP as well.

Suggested Citation

  • Jeffrey J. Schott & Cathleen Cimino, 2014. "Should Korea Join the Trans-Pacific Partnership?," Policy Briefs PB14-22, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb14-22
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    File URL: https://www.piie.com/publications/policy-briefs/should-korea-join-trans-pacific-partnership
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    References listed on IDEAS

    as
    1. C. Fred Bergsten & Gary Clyde Hufbauer & Sean Miner & Tyler Moran, 2014. "Bridging the Pacific: Toward Free Trade and Investment between China and the United States," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6918, April.
    2. Hamanaka, Shintaro, 2014. "TPP versus RCEP: Control of Membership and Agenda Setting," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 18(2), pages 163-186, June.
    3. Kim, Sunghyun & Shikher, Serge, 2015. "Long-run Effects of the Korea-China Free-Trade Agreement," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 19(2), pages 117-142, June.
    4. Kim, Young Gui & Lee, Hyo-young & Kang , Jungu & Kim , Hyuk-Hwang, 2014. "Korea-U.S. FTA in Its Second Year: Current Status of Implementation," World Economy Brief 14-23, Korea Institute for International Economic Policy.
    5. Yoshifumi Fukunaga & Ikumo Isono, 2013. "Taking ASEAN+1 FTAs towards the RCEP: A Mapping Study," Working Papers DP-2013-02, Economic Research Institute for ASEAN and East Asia (ERIA).
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    Cited by:

    1. Jeffrey J. Schott, 2015. "Korea and the TPP: The Inevitable Partnership," Policy Briefs PB15-13, Peterson Institute for International Economics.
    2. Song, Yeongkwan, 2021. "The global trade environment in the Biden era and response strategies for Korea," KDI Focus 104, Korea Development Institute (KDI).

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