Today, in the margins of the 11th EU-Korea Trade Committee, we agreed to launch negotiations between the EU and Korea on a digital trade agreement that will provide legal certainty for businesses and consumers engaged in digital trade, enhance their protection in digital transactions, and foster an open, free and fair online environment.
The EU and Korea share long-standing and robust economic relations underpinned since 2011 by the EU-Korea Free Trade Agreement. With these negotiations, we aim to bring this partnership into the digital domain. It demonstrates our commitment to being at the forefront of new developments in the digital economy, countering digital protectionism, and playing a leading role in setting digital trade rules which are future-proofed as well as responsive to innovation and emerging technologies.
Building on the cooperation and convergence shown by our Digital Trade Principles, the EU and Korea intend to negotiate an ambitious and modern digital trade agreement that contributes to our societies’ digital transformation, corresponds to the fast-evolving nature of the digital economy, and builds on and complements our existing preferential trade framework.
The EU and Korea consider that digital trade is an essential part of the digital and green transitions of our societies. It entails a further deepening our trade relations, supports job creation, and empowers companies to participate in the global economy, notably micro, small, and medium-sized enterprises. It also responds to online consumer needs and fosters innovation.
Our digital trade rules should build consumer trust, ensure predictability and legal certainty for businesses, remove and prevent the emergence of unjustified barriers to digital trade, and facilitate cooperation therein, while ensuring that we can continue to develop and implement the policies required to address new challenges posed by the digital economy.
- Publication date
- 31 October 2023
- Directorate-General for Trade
- Country or region
- South Korea
- Trade topics
- Digital tradeNegotiations and agreements