Business Today with Dr. Kim Byoung-joo (TPP vs RCEP)

As our Hwang Ji-hye reported… Korea, the world’s 15th-largest economy, might join the 12-nation Trans Pacific Partnership trade talks… aimed at slashing trade barriers among nations of the Asia-Pacific… that make up about 40 percent of the world economy.
Sounds good… but the negotiations have been mired in controversy over a lack of transparency and slowed by the conflicting interests of the negotiating countries.
To shed some light on this topic, we’re joined by Dr. Kim Byoung-joo, head of KL&P Consulting and our most reliable commentator.
Good to have you with us Dr. Kim.

Good to be here.

It was last Friday when the Korean government showed an interest in participating in the TPP agreement negotiations.
What was the intention behind the move? Is it safe to say the TPP will offer Korea more benefits than other trade pacts, such as the Korea-China FTA? We just saw the number of countries involved in the two trade pacts that Korea will potentially be involved with — the TPP and the Regional Comprehensive Economic Partnership.
What is the potential for growth with the RCEP versus the TPP? How far have the TPP negotiations progressed and what are some of the key challenges ahead? Once Korea decides to participate in the TPP negotiations… what are the expected challenges there? Thank you so much for being here with us Dr. Kim.