- The EU and South Korea expanded cooperation in AI, advanced computing, green tech, and research via Horizon Europe
- They are strengthening supply-chain security, defense collaboration, and rules-based trade amid global uncertainties
- The EU highlighted climate action, noting its carbon border mechanism is environmental, not trade-restrictive
The European Union has executed its Digital Trade Agreement with South Korea which includes green and digital partnerships to develop advanced technology sectors which include artificial intelligence, advanced computing and quantum technologies.
EU Ambassador Ugo Astuto delivered his first official press conference in Seoul to declare that the EU-Korea relationship has achieved success which now extends to strategic development in economic and technological and security fields. The European Union ranks as the largest trading partner of Korea while it stands as the main source of foreign investments in Korea.
Astuto announced that the EU–Korea free trade agreement has existed for many years but now receives new strength through digital and green partnerships which enable both economies to work together in their most advanced fields.
The development of a digital trade framework together with data-related agreements will establish "trustworthy data flow" systems whereas Korea becomes the first Asian associated member of Horizon Europe which allows both sides to work together on research and development projects.
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He stated that global economic challenges together with rising protectionism have not affected the European Union's commitment to maintain trade agreements which follow established rules and deliver predictable results through multilateral approaches.
He identified supply-chain resilience as an increasing priority which he plans to address through the establishment of an EU–Korea dialogue dedicated to supply-chain security following upcoming discussions that will include broad-based topics.
Astuto demonstrated European nations' commitment to enhanced defense measures because the Russian military invasion of Ukraine has caused defense systems to be upgraded. He described the European Union's developing Arctic strategy which focuses on environmental protection and peacekeeping and indigenous peoples' rights while military forces continue to grow in power.
Astuto noted that the EU carbon border adjustment mechanism serves as an environmental instrument because it functions as a trade barrier to international commerce to achieve worldwide emission reduction through international cooperation.
He finished his presentation by emphasizing that the European Union and South Korea should work together more closely to address worldwide challenges through their partnership as democratic nations that share common values.