Park Jin, Bilateral Talks with France "Discuss Economic Security and Indo-Pacific Strategy"

Foreign Minister Park Jin Holds Bilateral Meeting with France at G20 Summit
"Concerned to Ensure Global Supply Chain Legislation Does Not Adversely Affect Korean Companies"

[Asia Economy Reporter Yoo In-ho] On the 15th, Foreign Minister Park Jin held a bilateral meeting with France in Bali, Indonesia, where the Group of Twenty (G20) summit was held, to discuss cooperation measures between the two countries on economic security cooperation and Indo-Pacific strategy.

[Image source=Yonhap News]

According to the Ministry of Foreign Affairs on the 16th, Minister Park requested during the meeting with French Foreign Minister Catherine Colonna the previous day to pay attention so that the global supply chain-related legislation promoted by the European Union (EU), such as the Critical Raw Materials Act and supply chain due diligence, does not adversely affect Korean companies.

The EU is promoting the Raw Materials Act, which includes selecting strategic critical raw materials and strengthening related value chains.

Ministers Park and Colonna evaluated that the two countries have been steadily continuing economic cooperation amid international uncertainties such as the Ukraine war and supply chain disruptions, and agreed to strengthen economic security cooperation.

They also hoped to deepen technological cooperation in future-oriented fields such as nuclear power and space, where the governments and private sectors of both countries have cooperated for over 30 years.

Minister Colonna expressed hope to seek convergence between the Indo-Pacific strategies of the two countries in relation to Korea's recent announcement of its Indo-Pacific strategy at the Korea-ASEAN summit in Phnom Penh, Cambodia.

France, which has overseas territories in the Indo-Pacific region such as R?union, Mayotte, New Caledonia, and Polynesia, announced its own Indo-Pacific strategy document in 2019.

Furthermore, both sides agreed to closely cooperate so that the international community can unite and respond firmly if North Korea carries out additional serious provocations such as nuclear tests. The two ministers also agreed to hold the 4th Foreign Ministers' Strategic Dialogue in Seoul at a mutually convenient time.

This content was produced with the assistance of AI translation services.