South Korean finance minister Hong Nam Ki said Monday the government will begin the application process to join the Trans-Pacific Partnership free trade deal.

Hong, who doubles as deputy prime minister, made the remark at a meeting of Cabinet ministers on external economic affairs. The government is expected to apply for membership after reporting the move to the nation's parliament, among other steps.

The 11-member trade deal is formally known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Source: Manichi

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