South Korea's Lee says unlikely to join Pacific trade pact within his term

South ​Korean President ​Lee Jae Myung said ‌on Monday ​that the country would not be ‌able to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during his term. "We need ‌to obtain permission from all 12 ‌member countries" in the partnership if South Korea applies, Lee said at a meeting with farmers, ⁠fishermen ​and ⁠forestry workers. "The possibility that it will not be ⁠completed within my term is far higher." Lee's ​term runs until June 2030.

Lee instructed ⁠his ministers earlier this month to not pursue ⁠an ​application to join the trade group, citing significant impact on South ⁠Korean farmers. The CPTPP came into force in ⁠2018, ⁠replacing the Trans-Pacific Partnership which fell apart after the US withdrew.