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The
Indo-Pacific Economic Framework (IPEF) could launch as soon this
month, to fill a gap in engagement with the region since 2017,
when then President Donald Trump quit a multinational deal that
became the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP).
"It is listed in 110 national tasks that the incoming government
is positively considering," said a South Korean finance ministry
official, who sought anonymity in line with government practice.
The remarks came after the Asia Business Daily, citing
government sources, said the government of President Yoon
Suk-yeol, who is set to be sworn in on Tuesday, had decided to
join the pact on its launch.
The launch is expected after a visit from May 20 to 24 by
President Joe Biden to Japan and South Korea, where Yoon's
incoming administration has signalled it seeks closer alignment
with the U.S.-led trade and diplomatic order.
Participation in the pact was one of the aspects considered in
the reviews performed by Yoon's transition team, added the
official, who declined to confirm the media report, however.
The daily said the United States seeks the participation of
major regional economies, from Australia and Japan to New
Zealand, Singapore and South Korea.
Yoon's government wants South Korea to "lead trade conditions in
the Indo-Pacific region" by joining both key pacts and seeking
to revive a third, the Regional Comprehensive Economic
Partnership (RCEP), a transition panel document showed.
(Reporting by Joori Roh; Editing by Clarence Fernandez)
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