Series runs through Jan. 6 next year, with international law experts covering key topics

The image is unrelated to this article. [Getty Images Bank]
The image is unrelated to this article. [Getty Images Bank]

South Korea's Ministry of Trade, Industry and Resources said Wednesday it will hold a relay seminar series titled "Understanding the CPTPP Agreement" in partnership with the Korean Society of International Economic Law and law firm Bae, Kim & Lee LLC's International Trade Research Institute, running through Jan. 6 next year.

The series was organized to deepen understanding of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The opening session, held Wednesday, covered the agreement's general provisions, including initial rules, dispute settlement and exceptions.

A total of eight sessions will be held every Wednesday through Jan. 6 — excluding Dec. 23 — in both in-person and online formats, covering key areas such as digital trade, rules of origin, sanitary and phytosanitary measures and intellectual property rights.

Details on the schedule and registration are available on the government's free trade agreement website and the Bae, Kim & Lee website.

The CPTPP is a multilateral free trade agreement among Asia-Pacific nations, with 12 members: Japan, Mexico, Australia, New Zealand, Canada, Singapore, Vietnam, Malaysia, Brunei, Chile, Peru and the United Kingdom.

The bloc has a combined population of about 580 million and accounts for roughly 15 percent of global GDP, making it one of the world's largest trading blocs.

South Korea first expressed interest in joining the Trans-Pacific Partnership — the CPTPP's predecessor — under President Park Geun-hye in 2013, but ultimately prioritized other trade negotiations, including a free trade agreement with China.

The Moon Jae-in administration formally announced its intention to join in 2021, but strained South Korea-Japan relations and disputes over imports of seafood from Fukushima prevented the country from submitting a formal membership application.

The CPTPP continues to expand its membership. Costa Rica announced the substantive conclusion of its accession negotiations in May. Uruguay is also in accession talks, while Indonesia, the Philippines and the UAE are pursuing membership.

The CPTPP goes beyond simple tariff reductions on goods, aiming to standardize trade rules broadly. A defining feature is its high level of market openness — it requires the elimination of tariffs on 95 to 100 percent of product categories, covering not only manufactured goods but also sensitive agricultural, livestock and fishery products.

On the institutional side, a core pillar of the agreement is a cumulative rules-of-origin regime that treats all member states as a single economic area.


oskymoon@heraldcorp.com