The Ministry of Trade, Industry and Energy (MOTIE) has announced that the second round of negotiations for the South Korea-European Union (EU) Digital Trade Agreement will take place in Seoul from Feb. 20 to 22.
The South Korea-EU Digital Trade Agreement is being pursued to foster a trustworthy, open, and fair digital trade environment for businesses and consumers engaged in digital commerce.
Following their agreement on digital trade principles in November 2022, both sides are now confirming their respective positions on key norms in digital trade, such as data transfer, personal information protection, cybersecurity, and electronic contracts. They are also discussing detailed cooperation plans.
This negotiation follows the first round of talks held in Brussels, Belgium, in December last year. In this round, attended by a total of around 30 representatives from both governments, efforts are being made to explore avenues for progress in negotiations.
The MOTIE expects that domestic companies will be able to expand their digital trade networks and enhance their business competitiveness through the South Korea-EU Digital Trade Agreement.
An official from the MOTIE stated, “We will actively engage in negotiations with the EU by maintaining close communication with industry stakeholders through public hearings, meetings of the Digital Trade Response Team, and other channels.”