South Korea's Lee Says Pacific Trade Pact Membership Unlikely Before 2030

South Korean President Lee Jae Myung said on Monday, October 26, that his country is unlikely to complete accession to a major Pacific trade agreement before his presidential term ends in June 2030, even though he believes membership would benefit the export-dependent economy.

Speaking with representatives of agriculture and fisheries at the presidential State Guest House in Seoul, Lee said entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) requires consent from all 12 existing members. He described a lengthy accession process and warned that a decision to begin talks now might not produce a completed agreement during his presidency.

The president did not announce a new application. He reiterated his instruction that the government should not submit an application in 2026, pending further consultation with affected industries. His comments therefore distinguish the long-term goal of joining the trade bloc from any immediate move to seek membership.

Lee argued that South Korea needs access to wider export markets, but said farmers, fishers and other primary producers should not be required to absorb disproportionate losses from trade liberalisation. He pledged efforts to prevent unexpected harm and said the government must earn trust through credible support and compensation.

Financial News reported the remarks from Monday's meeting. Seoul Economic Daily separately reported the presidential office's plans for the consultation, describing agricultural concerns and the previously announced pause on the CPTPP application. The accounts are consistent on the policy background.

The CPTPP is a trade agreement involving 12 Pacific-region economies. Accession is not automatic: an applicant must negotiate terms and secure the members' agreement. Lee's statement signals that Seoul's ambitions remain in place, but a near-term timetable is not assured.

The president's remarks are a forecast about the political and negotiating process, not an announcement that South Korea has formally abandoned the prospect of joining the pact.