(LEAD) Lee says CPTPP entry unavoidable; membership during his term unlikely

(ATTN: RECASTS headline, lead; UPDATES throughout with more remarks)

SEOUL, Oct. 26 (Yonhap) -- President Lee Jae Myung said Monday that South Korea's entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) would be "unavoidable" despite frustrations among farmers and fishermen.

The president made the remarks during a meeting with representatives from the agricultural, fisheries, forestry and livestock industries, as he sought to address controversies facing the sectors, including CPTPP membership.

Earlier this month, Lee ordered the government not to apply for CPTPP membership this year, pledging to hold sufficient consultations with farmers and fishermen who are opposed to South Korea's entry into the major Indo-Pacific trade bloc.

While CPTPP membership is expected to help boost South Korea's overall exports, the agricultural and fisheries sectors are likely to take a hit from market opening, which would lead to imports of cheaper products.

"You may find it frustrating, but it's unavoidable," Lee said, adding that the government "cannot give it up for the benefit of the country as a whole."

Instead, the government would have to focus on finding complementary measures to implement if it seeks CPTPP membership, the president noted.

He voiced government concerns over whether South Korea would be able to retain its status as a trade power if it runs counter to global trade liberalization, saying, "In the end, it would have no other choice but to decide in line with the broad trend for the future."

Even if Seoul opts for CPTPP membership, the process would take a long time due to potentially prolonged negotiations, he said, adding, "It is highly likely that a final agreement would not be reached during my term."

The president called the agricultural and fisheries sectors national strategic and security industries critical to survival.

"I know that there are worries and concerns over CPTPP ... To be clear, there will be no cases of you sustaining unfair damage," the president said.

Lee highlighted that expanding global export markets is very important for South Korea, which relies on trade, and that securing CPTPP membership would be necessary to "go to the next level," despite opposition.

pbr@yna.co.kr
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