South Korea, EU finalize digital trade agreement to enhance electronic trade
All the versions of this article: [English] [français]
Chosun Biz - 10 March 2025
South Korea, EU finalize digital trade agreement to enhance electronic trade
By Lee Ju-hyeong
The Ministry of Trade, Industry and Energy announced on the 10th that it has concluded negotiations on the Digital Trade Agreement (DTA) aimed at invigorating trade through electronic means such as the Internet with the European Union (EU).
Deputy Minister Jeong In-gyo held the 12th Korea-EU Free Trade Agreement (FTA) Trade Committee meeting in Brussels, Belgium, on that day. The meeting was co-chaired by Deputy Minister Jeong and the EU’s Executive Vice President Valdis Dombrovskis, who is in charge of trade. A South Korean delegation of about 20, including the Director General of Trade Policy at the Ministry, and a delegation from the EU, including Maria Martin Pratt, Deputy Director General of the Directorate-General for Trade, attended.
Since initiating negotiations in October 2023, the Korea-EU DTA has held seven official negotiation rounds. Traditionally, trade between countries involved the exchange of physical goods, but as the scale of digital trade has grown, which is difficult to define under existing trade norms due to advances in information and communication technology (ICT), the need for a DTA has become more pressing. The government has been accelerating the expansion of digital networks with major countries since signing the Digital Partnership Agreement (DPA) with Singapore in December 2022.
A Ministry official noted, "We have confirmed the conclusion of the Korea-EU DTA negotiations," and added, "We plan to proceed with domestic procedures, including legal reviews."
During this Trade Committee meeting, discussions were held regarding ▲SPS (Regionalization, Beef) ▲Automobiles and Parts (French Electric Vehicle Subsidies) ▲Market Access Issues (Offshore Wind, Battery Market, Electronics, Steel Safeguard, Fluorinated Gases, Carbon Border Adjustment Mechanism) ▲Trade and Sustainable Development (TSD) chapter, among others.
The Ministry requested the EU to promptly implement the import approval procedures for Korean fresh beef and to review the reform of the French electric vehicle subsidies system. Market access issues regarding the EU’s battery regulations, steel safeguards, fluorinated gas regulations, and the carbon border adjustment mechanism were also mentioned.
Both sides agreed on the need for discussions on new trade issues, including supply chains, and decided to establish a "Committee on Emerging Trade and Economic Issues" within the Korea-EU FTA.
Deputy Minister Jeong In-gyo said, "The Korea-EU FTA has served as an important foundation for expanding economic cooperation between the two countries," and added, "We will continue mutual trade and investment cooperation based on strengthening FTA implementation."
※ This article has been traslated by OpenAI.
