Korea-EU Explore Measures to Facilitate Digital Trade and Promote Innovation
4th Korea-EU Digital Trade Agreement Negotiations
South Korea and the European Union (EU) are engaging in discussions to facilitate digital trade, promote digital innovation, and strengthen the foundation for cooperation.
The Ministry of Trade, Industry and Energy announced on the 2nd that the 4th Korea-EU Digital Trade Agreement negotiations will be held in Seoul from the 2nd to the 4th, with around 30 government representatives from both South Korea and the EU attending.
Both sides share the recognition of establishing a high-level digital trade agreement based on the Korea-EU Digital Trade Principles, and have held three rounds of negotiations since the declaration to commence Korea-EU digital trade agreement negotiations in October last year.
An official from the Ministry of Trade, Industry and Energy explained, "In this 4th round of negotiations, we plan to discuss each article based on the results of previous talks to find ways to resolve differences between the two sides and seek progress in the negotiations."
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The Korea-EU Digital Trade Agreement aims to establish trade rules for the digital economy and set new digital trade norms that promote digital innovation. At the same time, it seeks to strengthen the digital trade network with the major economic bloc of the EU and lay the foundation for cooperation, which the Ministry expects will also contribute to enhancing the business competitiveness of Korean companies.
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