Key facts
- The EU and South Korea will hold a summit to deepen defense, tech, and industrial ties.
- South Korea is a top global arms exporter and a major supplier to NATO countries.
- The summit aims to address global crises and shifting defense alliances.
- The EU has proposed new sanctions against Russia, including a ban on Russian soldiers entering the Schengen Area.
- EU nations have raised concerns about Chinese companies circumventing trade tariffs.
The European Union and South Korea are set to deepen their defense and industrial ties at an upcoming summit, signaling a strategic alignment amid escalating global geopolitical turmoil and shifting alliances. The meeting, attended by European Council President António Costa, European Commission President Ursula von der Leyen, and Republic of Korea President Lee Jae Myung, aims to bolster cooperation beyond South Korea's cultural exports like K-pop and cinema.
South Korea has emerged as a significant military industry powerhouse, ranking among the top 10 global arms exporters between 2020 and 2024, with plans to increase defense spending to 8.2% of its GDP by 2026. It is the second-largest arms supplier to NATO members, with Poland acquiring 46% of the country's defense exports in 2024, including K2 Black Panther tanks and FA-50 jets.
The summit's agenda is expected to prioritize prosperity, the economy, security, and defense. This comes as the US continues to reduce its military presence in Europe, creating a perceived defense gap. President Lee Jae Myung has emphasized the need for self-reliant security in a world where peaceful coexistence is no longer guaranteed.
In parallel, the European Commission has proposed new sanctions against Russia, including a ban on Russian soldiers entering the Schengen Area and targeting Patriarch Kirill, the head of Russia's Orthodox Church. The EU is also grappling with Chinese companies circumventing its tariff barriers. Separately, France has banned Israeli Finance Minister Bezalel Smotrich from entering the country, and the EU has issued a warning to Albania regarding a real-estate project linked to Jared Kushner.