Korea-EU to Pursue Associate Membership in Europe's Largest Research Program 'Horizon Europe' (Update)

Horizon Europe, Total Financial Support of 99.5 Billion Euros for 2021-27
New Korea-EU Cooperation in Green, Health, and Digital Sectors
Strengthening Korea-EU Diplomatic and Security Cooperation on North Korea Nuclear Response and Indo-Pacific Strategy
Deepening Economic Security and Supply Chain Cooperation

President Yoon Suk-yeol met with Charles Michel, President of the European Union (EU) Council, and Ursula von der Leyen, President of the European Commission, on the 22nd and decided to pursue negotiations for South Korea's associate membership in 'Horizon Europe,' the EU's largest research and innovation program. Horizon Europe will provide a total financial support of 95.5 billion euros (approximately 130 trillion won) over seven years from 2021 to 2027.

They also agreed to enhance cooperation in new fields such as green, health, and digital sectors, strengthen mutual security cooperation between South Korea and the EU, and have the EU support and cooperate with South Korea's foreign policy and initiatives.

President Yoon, President Michel, and President von der Leyen announced this through a joint statement immediately after the Korea-EU summit held at the Yongsan Presidential Office that afternoon.

To promote advanced and innovative technology cooperation between South Korea and the EU, South Korea will pursue negotiations for associate membership in Horizon Europe and initiate formal negotiations. Since submitting a letter of intent to join Horizon Europe in February last year, South Korea has held four exploratory and working-level meetings.

Additionally, marking the 60th anniversary of diplomatic relations between South Korea and the EU this year, the two leaders welcomed the development of their strategic partnership based on the Korea-EU Framework Agreement, Free Trade Agreement (FTA), and the Framework Agreement on Crisis Management Participation. They agreed to cooperate in a mutually beneficial manner on global peace and security threats such as the war in Ukraine and North Korea's nuclear and missile issues, as well as on pandemics, climate change, and food and energy security.

As part of this, the Korea-EU leaders also signed three major partnerships in green, health, and digital sectors. First, through the Green Partnership, Korea and the EU agreed to expand cooperation in comprehensive climate and environmental fields including ▲climate action ▲environmental protection ▲energy transition.

Regarding health cooperation, by signing an administrative arrangement for Korea-EU health emergency preparedness and response, they plan to strengthen cooperation in the health sector including ▲research on medical response measures ▲innovation and manufacturing ▲preparation for serious cross-border health crises ▲support for third countries in vaccination and production capacity.

[Image source=Yonhap News]

Furthermore, they agreed to hold the 1st Digital Partnership Council to prepare and implement follow-up measures for the Korea-EU Digital Partnership signed in November last year.

They also decided to strengthen cooperation in the diplomatic and security fields between South Korea and the EU. To this end, they established a strategic dialogue between the South Korean Foreign Minister and the EU High Representative for Foreign Affairs and Security Policy to enhance comprehensive security cooperation across various fields.

They also plan to continue cooperation on major regional and international issues. Through this summit, the EU expressed support for the Yoon administration's Korean Peninsula peace policy, the 'Bold Initiative,' and the peaceful reunification of the Korean Peninsula. They also agreed to work together toward the complete denuclearization of North Korea. They reaffirmed comprehensive common ground regarding the visions and key focus areas of their respective Indo-Pacific strategies and agreed to seek concrete cooperation measures such as discovering linked projects between the two Indo-Pacific strategies.

Korea and the EU agreed to strengthen cooperation to enhance economic security and build resilient supply chains. To this end, the two leaders agreed to continue consultations related to the EU's Carbon Border Adjustment Mechanism (CBAM) and Critical Raw Materials Act (CRMA), and to strengthen cooperation on the development of an early warning system. They decided to expand the current Industrial Policy Dialogue (IPD) to the Supply Chain and Industrial Policy Dialogue (SCIPD) and to hold the 1st SCIPD within this year. They also plan to continue consultations on developing a joint mechanism to stabilize semiconductor supply chains and on the EU Chips Act.

[Image source=Yonhap News]

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