A new report said that if South Korea doesn't take part in the Trans-Pacific Partnership (TPP), Korean exporters of parts and components will be hit hard in intra-regional exports for ten years following the TPP's effectuation. 
 
According to the report released by the Korea Economic Research Institute, such companies will suffer losses of 15-and-a-half trillion won in intra-regional exports.
 
The report projected that, assuming that all tariffs are removed, value-added exports to the U.S. of South Korean parts and components companies will decline by more than eleven billion dollars for a decade following the TPP’s effectuation and such exports to Japan will shrink by nearly two billion won.
 
The report cited that South Korean parts and components industries are most dependent on the global supply chain.