Korea raises concerns over EU's probe into Czech nuclear power project, new steel safeguards
Industry Minister Kim Jung-kwan, right, shakes hands with Henna Virkkunen, the executive vice president of the European Commission for Technological Sovereignty, Security and Democracy, at the Government Complex Seoul, Thursday. Courtesy of Ministry of Trade, Industry and Resources
Industry Minister Kim Jung-kwan on Thursday conveyed Korea's concerns to the European Union (EU) over the latter's investigation into the Czech Republic's nuclear power plant project, secured by Seoul, and plan to implement stronger steel safeguard measures, Kim's office said.
In a Seoul meeting with Henna Virkkunen, the executive vice president of the European Commission (EC) for Technological Sovereignty, Security and Democracy, Kim called for "amicable" solutions to the issues, according to the Ministry of Trade, Industry and Resources.
The EC initiated a foreign subsidies regulation investigation into the Czech nuclear energy project in May to determine if the project's winner, the Korea Hydro & Nuclear Power (KHNP), received unfair foreign subsidies, following a complaint from France's EDF, the KHNP's rival in the bid.
With the EU's push to beef up regulations on steel imports, Seoul has continued to express concerns, asking the EU to help Korean companies secure the maximum import quota.
Earlier this year, the EC announced plans to reduce tariff-free quotas on foreign steel by 47 percent and hike tariffs on imports exceeding the quota from the current 25 percent to 50 percent, citing the need to protect the EU steel industry.
The proposal, expected to replace the EU's current steel safeguard measures in June 2026, will likely place a heavy burden on the Korean steel industry already struggling with global oversupply and a 50 percent tariff by the United States.
Kim also expressed concerns over uncertainties stemming from the EU's new battery regulations, stressing that Korean companies are contributing to the EU's advanced battery manufacturing capacity and supply chains by making investments in the region.
Thursday's meeting also included discussions on ways to deepen Korea's cooperation with the EU in advanced industries, such as semiconductors and artificial intelligence (AI), as well as on economic security, amid heightened global uncertainties, according to the ministry.
The ministry said the two sides agreed on the need to bolster supply chain cooperation as they share a complementary relationship in the semiconductor sector.
For the AI sector, Kim shared Seoul's plan to build a shared and open data ecosystem for the manufacturing sector and supply chains, which is similar to the EU's own initiative called "Manufacturing-X," and proposed cooperation to enhance interoperability of their data.
In addition, Kim called for the EU's participation in the International AI Standards Summit to be held in Seoul next month, stressing the importance of international standards for the adoption of AI across industries.
In the future mobility sector, the two sides agreed to join hands to facilitate transition to electric vehicles (EVs) for achieving carbon neutrality, and beef up collaboration in communications and data systems for self-driving cars, according to the ministry.