While the EU, represented by the Commission, the European Council and the Cyprus Presidency of the EU Council, and the Republic of Korea will be holding their 11th summit in Brussels on Wednesday 10 June, the two parties are also expected to mark the launch of an EU-Republic of Korea ‘Competitiveness Alliance’.
On Wednesday 3 June, the Member States authorised the European Commission to negotiate a non-binding instrument to this effect. The last summit was held in Seoul in 2023.
As the President of the European Council, António Costa, points out in a press release, “the European Union and the Republic of Korea are like-minded partners with a shared commitment to democracy, the rule of law, and open, fair trade. The upcoming summit reaffirms our determination to work together to promote peace and stability, and strengthen our thriving economic relationship. Together, we are building a partnership that brings tangible benefits to our people and contributes to a safer, more prosperous future”.
On Wednesday, the leaders will take stock of the progress made over the last three years, since the last EU-Republic of Korea summit, in order to deepen their bilateral cooperation in strategic areas such as trade, investment, defence and security, digital technologies, energy and research. They will also discuss current geopolitical events.
“The Republic of Korea is an important Strategic Partner for the EU, both in the Indo-Pacific and globally. The relations between the two partners are based on the Framework Agreement that established the EU-Republic of Korea Strategic Partnership (2014), the Framework Participation Agreement in EU crisis-management operations (2016) and the Security and Defence Partnership (2024). Trade relations are underpinned by the EU–Republic of Korea Free Trade Agreement, which entered into force in December 2015”, says the EU Council.
The Republic of Korea is the world’s 13th largest economy and has a population of over 51 million people. In 2025, trade in goods between the EU and the Republic of Korea exceeded €124 billion. The EU was the Republic of Korea’s third-largest trading partner, accounting for 10% of its total trade. The Republic of Korea was the EU’s eighth-largest trading partner, with EU imports amounting to €69.7 billion and EU exports reaching €54.5 billion.
The main goods traded between the EU and the Republic of Korea include machinery and transport equipment, chemicals and related products, and other manufactured goods.
The aim of the ‘Competitiveness Alliance’ is to deepen bilateral cooperation in areas of strategic importance to both economies. It would serve as a political framework for the various forms of economic cooperation that already exist, says a note. Discussions on the mandate of the ‘Competitiveness Alliance’ will begin after the summit.
In April, the European Commission and the Republic of Korea also agreed on the final text of the EU-South Korea Digital Trade Agreement (DTA), which will also be signed on 10 June (see EUROPE 13851/22). (Original version in French by Solenn Paulic)