South Korea: Prepare proper measures for direct and indirect damage to RCEP

Economic ministers from Korea, China, Japan, and ASEAN have decided to implement the Regional Comprehensive Economic Partnership (RCEP) by January, leading to the Korean government's ratification process at the National Assembly. The RCEP, which includes 10 ASEAN countries and 16 other countries, is anticipated to significantly increase the import of tropical fruits like durian, mangosteen, papaya, and frozen tropical fruits. However, there are concerns about the potential negative impact on domestic fruit and vegetable consumption, as well as on farmers in regions like Jeollanam-do, Gyeongnam, and Jeju, who are increasing subtropical crop production due to extreme weather. There are also concerns about the impact of negotiations on the import of items subject to sanitary quarantine and localization-related procedures. The growing damage to the agricultural and fishery industry due to FTAs signed with each country has prompted calls for effective countermeasures to ensure industry recovery.