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S. Korea, EU hold first round of talks on digital trade

According to Yonhap News,

South Korea's trade ministry said Wednesday it launched the first round of talks on digital trade with the European Union in line with efforts to seek broader partnerships in online and data industries.

The three-day meeting that kicked off in Brussels came after Trade Minister Ahn Duk-geun agreed with his EU counterpart, Valdis Dombrovskis, to start related negotiations in October.

During the talks, the two parties plan to exchange opinions on a wide array of topics, including data transfer, personal information, and cybersecurity, according to the Ministry of Trade, Industry and Energy.

"The digital trade agreement between South Korea and EU will offer an open and fair commerce environment for businesses and consumers," the ministry said in a statement.

"It will bolster digital trade partnerships by creating new opportunities and elevating the competitiveness of businesses, including small-and medium-sized firms," it added.

Digital trade is a term that encompasses the exchange of goods, services, data and other activities facilitated by online platforms.

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Source: Yonhap News (December 13, 2023)

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