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Korea and the TPP: The Inevitable Partnership

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  • Jeffrey J. Schott

    (Peterson Institute for International Economics)

Abstract

Korea's decision to delay joining the Trans-Pacific Partnership (TPP) talks was a tactical mistake. It is now left with primarily two options to participate: (1) ask to join the TPP, if possible between signature and entry into force, or (2) accede to the TPP after the agreement is ratified and goes into effect—either alone or as part of a group of countries seeking TPP membership. For Korea the burden of adjustment in the TPP—in terms of liberalization commitments—will probably be higher than had it joined as an original signatory. As a major trading nation, it stands to reap large gains from increased trade and investment with TPP countries and should opt to join the TPP as soon as the window for entry reopens.

Suggested Citation

  • Jeffrey J. Schott, 2015. "Korea and the TPP: The Inevitable Partnership," Policy Briefs PB15-13, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb15-13
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    File URL: https://www.piie.com/publications/policy-briefs/korea-and-tpp-inevitable-partnership
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    References listed on IDEAS

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    1. Jeffrey J. Schott & Cathleen Cimino, 2014. "Should Korea Join the Trans-Pacific Partnership?," Policy Briefs PB14-22, Peterson Institute for International Economics.
    2. Jeffrey J. Schott, 2010. "KORUS FTA 2.0: Assessing the Changes," Policy Briefs PB10-28, Peterson Institute for International Economics.
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    Cited by:

    1. Noland, Marcus, 2015. "Unconventional monetary policy, spillovers, and liftoff: implications for Northeast Asia," MPRA Paper 67984, University Library of Munich, Germany.
    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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