At a ceremony in Brussels on Wednesday, European Commission President Ursula von der Leyen, European Council President Antonio Costa, and South Korean President Lee Jae-myung celebrated the signing of a new digital trade deal.
It was the eleventh summit between the EU and South Korea, with topics ranging from commerce to security and defense.
According to von der Leyen, “Korea is one of Europe’s closest partners in the Indo-Pacific region and on the global stage.” “Stable and reliable partnerships like ours are more valuable than ever in today’s uncertain world.”
In a joint statement, the three praised the importance of the discussions and pledged a solid and cordial relationship between the two parties.
The EU-South Korea digital trade pact comes more than 10 years after a historic free trade agreement, and both parties are interested in broadening their trade ties at a time of escalating tensions with both China and the US.
According to data from the European Commission, commerce between the EU and South Korea has doubled since 2015, with goods trade expected to reach over €124.25 billion in 2025.
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