In an online meeting in November, PSI shared with South Korean unions the results of its commissioned research about the potential adverse impact on public services of South Korea’s possible accession to neoliberal global trade agreement, the Comprehensive and Progressive Trans Pacific Partnership Agreement (CPTPP).
Earlier the Republic of Korea has expressed interest in joining the neoliberal global trade agreement, the Comprehensive and Progressive Trans Pacific Partnership Agreement (CPTPP).
PSI's commissioned research underscored the potential impact of the agreement on public policy, public services and workers’ rights. E-commerce provisions may prevent Korea from accessing or transfering source code in software which prevents effective regulation. The state-owned enterprise (SOE) chapter can restrict government assistance to SOEs and effectively promotes liberalisation and privatisation. of SOEs. Domestic services regulation disciplines may lead to restrictions on licensing fees on bars, casinos etc., which in turn can reduce government revenues to fund public services. CPTPP’s regulatory coherence chapter (and equivalent WTO plurilateral proposals) would make it more difficult and more expensive to regulate companies while the transparency provisions can open the door for increased lobbying and influence by multinational companies, chaebols and their industry associations.