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South Korea to start talks on joining US-led trade pact

SEOUL — South Korea said Friday that it will start negotiations to join a US-led trade pact covering a dozen Pacific and Asian nations.

The finance ministry said in a statement that officials will explore the possibility of joining the Trans-Pacific Partnership through the preliminary negotiations.

The move is a first step and doesn’t commit South Korea to becoming part of the agreement but the trade ministry has been talking up its benefits for the economy.

Joining the trade bloc of 12 countries that includes Japan, Canada, Mexico, and Vietnam faces strong opposition from South Korean farmers and the fishing industry.

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Export-reliant South Korea has free trade deals with the United States and European Union. It is negotiating a free trade deal with China, which is not part of the US-led pact.

Associated Press