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Trade and Defence Top of Agenda at EU-South Korea Summit
The agreement aims to ease cross-border data flows and electronic signatures, while reducing business costs and awaiting European Parliament approval.
- On Wednesday, European Council President Antonio Costa and South Korean President Lee Jae Myung signed a digital trade agreement in Brussels, designed to cement economic ties between the partners at their first summit in three years.
- The agreement, supplementing a 2011 accord, facilitates digital transactions and strengthens alliances amid geopolitical uncertainty, including Chinese export curbs, foreign tariffs, and conflicts in Ukraine.
- Seoul officials confirmed Korea attracted $165 million in foreign direct investment from four European companies: Germany's Orafol, France's Quandela, the Netherlands' Prodrive Technologies, and Sweden's Mycronic.
- Leaders agreed to establish high-level economic and energy dialogues to consult on supply chains, while also exchanging classified security information and passenger name records.
- Per the World Trade Organization, digitally delivered services trade increased 10% annually over the past three years, positioning the pact as it awaits European Parliament approval.
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14 Articles
14 Articles
EU and South Korea deepen ties with digital pact to bolster trade
·New York, United States
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El PeriódicoReposted by 
laprovincia.es
laprovincia.esIn an increasingly unpredictable and competitive world, the European Union is looking for allies on all fronts. South Korea is one of the trusted partners that the bloc has found in the Pacific. This Wednesday, European and Korean leaders have gathered in Brussels, displaying that good tuning to sign two new cooperation agreements. Continue reading....
·Barcelona, Spain
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The agreement should enter into force after being approved by the European Parliament.
·Belgrade, Serbia
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Coverage Details
Total News Sources14
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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