The European Union and the Republic of South Korea celebrated the signing of a new Digital Trade Agreement at their 11th summit in Brussels, signaling a deepening of ties amid rising global security threats and geopolitical shifts.
European Commission President Ursula von der Leyen and European Council President António Costa, alongside South Korean President Lee Jae-myung, emphasized the value of stable partnerships in an uncertain world. The joint statement reaffirmed a commitment to multilateralism and a rules-based economic order. The summit highlighted South Korea's role as a close partner in the Indo-Pacific and on the global stage.
The new digital trade agreement is expected to complement the existing free trade deal, which has seen bilateral trade double since 2015, reaching approximately €124.25 billion in goods trade in 2025. The agreement aims to reduce barriers to digital trade, provide greater legal certainty for businesses, facilitate cross-border data flows, and prohibit mandatory source code transfers, while maintaining robust consumer protection and personal data privacy standards.
Economic security and supply chain resilience were central themes, with both sides keen to diversify trade relationships and attract South Korean investment in strategic sectors like batteries, electric vehicles, and semiconductors. South Korea's leadership in semiconductors was identified as a significant area for cooperation.
Discussions also covered security and defence cooperation. While a security of information agreement was not finalized, both sides expressed hope for its future adoption to enhance the sharing of classified information and facilitate industrial and research collaboration. This builds upon the 2024 Security and Defence Partnership agreement. The summit also addressed nuclear non-proliferation concerns related to North Korea and condemned actions enabling Russia's war in Ukraine, urging immediate cessation of such activities.
