The South Korean Foreign Ministry announced that Park Jong-han, the Economic Diplomacy Coordinator, met with a delegation from the European Parliament's Committee on Internal Market and Consumer Protection, led by Chair Anna Cavazzini, on September 23 at the Foreign Ministry headquarters in Jongno, Seoul. They exchanged views on new economic legislation, including the EU's Industrial Accelerator Act and public procurement law, as well as cooperation in the digital and AI sectors between South Korea and the EU.
The European Parliament's Committee on Internal Market and Consumer Protection is responsible for ensuring the free movement of goods and services within the European Union, regulating the digital single market, and legislating on advanced technologies. It is one of the key committees leading discussions on the Industrial Accelerator Act (IAA), which the EU is currently pursuing to enhance industrial competitiveness.
The Industrial Accelerator Act aims to strengthen industrial competitiveness by imposing EU origin requirements on public procurement and subsidy support, thereby expanding domestic production in strategic industries.
During the meeting, Park expressed concerns about the increasing domestic content requirements in the EU's recent economic legislation, including the Industrial Accelerator Act and public procurement law. He urged the EU to ensure fair competition for South Korean companies. He emphasized the importance of collaboration with reliable partners like South Korea, which shares a rule-based order and has invested in the EU for a long time, contributing to local employment and supply chain development, especially amid growing global supply chain instability and geopolitical crises.
The two sides also exchanged views on the EU's Cloud and AI Development Act and South Korea's AI Basic Act, discussing trends in digital and AI-related policies and legislation, as well as ways to strengthen cooperation in the digital and advanced technology sectors.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.