Korea and the European Union (EU) agreed to strengthen economic cooperation in strategic fields such as trade, investment, supply chains, digital, advanced technology, and energy. The two sides also agreed to support the establishment of a Korea-EU high-level economic dialogue to deepen cooperation on economic security and trade and industry policy.
President Lee Jae-myung, who is visiting Belgium, held a summit on the 10th (local time) in Brussels with European Council President Antonio Costa and European Commission President Ursula von der Leyen, after which they adopted a joint statement containing these details.
In the statement, the two sides said they "emphasize the importance of deepening bilateral cooperation in areas strategically important to our economies, including trade, investment, supply chains, digital, advanced technology, energy, and innovation." They added, "We support the establishment of a Korea-EU high-level economic dialogue to deepen cooperation in economic security and trade and industry policy."
They also reaffirmed the importance of economic ties based on the full implementation of the Korea-EU free trade agreement (FTA). The two sides said, "We underline the importance of a solid and vibrant economic relationship based on the full implementation of a free trade agreement that ensures mutual benefits," adding, "We will make faithful efforts to guarantee fair competition in each side's market."
They also agreed to continue consultations on trade issues such as the EU's recent push to reduce steel tariff quotas and the Carbon Border Adjustment Mechanism (CBAM). The two sides included language in the statement that "the EU and the Republic of Korea will continue joint efforts to address global steel overcapacity through the Global Forum on Steel Excess Capacity (GFSEC) and other channels."
They also said they would "continue close consultations on each side's legislation and policies, including carbon border adjustment measures for industrial policy, the circular economy, and energy-intensive industries." However, the specific content of the consultations was not detailed in the statement, drawing attention to the results of follow-up discussions.
Earlier, Kang Yu-jung, senior presidential spokesperson, said in a pre-briefing that "at the summit with the EU, we plan to convey the position that regulatory legislation such as the EU's recently pursued steel tariff quota issue and the Carbon Border Adjustment Mechanism should not become new trade barriers."
The two sides also agreed to strengthen cooperation on climate and the environment. They exchanged views on energy transition through the Korea-EU green partnership, nationally determined contributions (NDC), cooperation to end plastic pollution, and strengthening ocean protection.
On security issues, they strongly criticized military cooperation between Russia and North Korea. In their joint statement, Korea and the EU said they "condemn third-party support, particularly support from North Korea, that enables Russia's ongoing war of aggression against Ukraine," and "strongly condemn the illicit military cooperation between Russia and North Korea."
Regarding the Russia-Ukraine war, the two sides emphasized the importance of a full cease-fire and confirmed their intention to support Ukraine's recovery and reconstruction. They also urged Russia and North Korea to cease related activities and to comply with the U.N. Charter and U.N. Security Council resolutions.
On the North Korean nuclear issue, they said they "express serious concern about the nuclear and ballistic missile programs," urging that "North Korea should swiftly fully comply with its obligations as a non-nuclear-weapon state under the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and the International Atomic Energy Agency (IAEA) comprehensive safeguards agreement, and bring the Additional Protocol into force."
They added, "North Korea will never be recognized as a nuclear-weapon state under the NPT and can have no special status related to it." While reaffirming their commitment to peace and stability on the Korean Peninsula, the two sides also stressed the need to improve North Korea's human rights situation and to allow access by international organizations and humanitarian agencies.
Issues concerning China and Taiwan were also included in the statement. The two sides said they "reaffirm support for freedom of navigation and overflight in maritime areas, including the South China Sea, in accordance with the U.N. Convention on the Law of the Sea," and "emphasize the importance of maintaining peace and stability in the Taiwan Strait and oppose any unilateral attempts to change the status quo in the Indo-Pacific region."
Regarding the situation in the Middle East, they emphasized freedom of navigation and safe passage in the Strait of Hormuz, and the importance of protecting civilians and civilian infrastructure. The two sides said all parties must fully respect international law, including the law of the sea as reflected in the U.N. Convention on the Law of the Sea.