KITA chair meets with European regulators

Korea International Trade Association (KITA) Chairman Yoon Jin-sik, third from left, poses with European Commission Deputy Director General Patrick Anthony Child, fourth from left, during their meeting in Brussels, Belgium, Monday (local time). Courtesy of KITA

Korea International Trade Association (KITA) Chairman Yoon Jin-sik met with European Commission officials in Brussels to present the views of Korean companies on the region's business environment, the business lobby said Tuesday.

According to KITA, Yoon's two-day visit to Brussels included meetings with key European Commission policymakers. He was accompanied by top officials from Korean companies such as Meta Biomed, Hanyoung Nux, and Exicon.

On Monday, the delegation met with Patrick Anthony Child, Deputy Director-General of the European Commission’s Directorate-General for Environment. They shared the views of Korean companies on the European Union’s battery-related regulations, including those concerning carbon footprints and the upcoming Corporate Sustainability Due Diligence Directive.

The delegation specifically expressed concerns that the EU Deforestation Regulation (EUDR), set to take effect at the end of this year, has not yet been accompanied by the necessary compliance information from the European Commission. They highlighted that this uncertainty is causing difficulties for the Korean tire and automotive industries.

The EUDR is a legislative measure imposing supply chain due diligence obligations on companies within the region that produce, distribute or import products linked to deforestation.

The regulation applies to businesses and distributors handling products or raw materials such as cattle, cocoa, coffee, rubber, processed wood products, paper and tires, and those companies must prove through due diligence that their goods or raw materials have not been produced in areas where forests were destroyed after Dec. 31, 2020.

According to KITA, Child acknowledged that Korea is a supportive partner in the EU’s regional plans to enhance industrial capabilities for a green transition. He promised to consider the opinions of Korean firms in the policy-making process and the development of detailed guidelines.

On Tuesday, Yoon met with Marie-Pierre Vedrenne, a French member of the European Parliament, and urged the EU to ensure that trade regulations designed to protect local industries do not unintentionally harm key allies such as Korea.

He also discussed the administrative burdens that Korean companies face in the EU due to tightened regulations and called for greater attention from the European Parliament.

“In the past, we focused on reaching out to policymakers in the United States, and it is meaningful that we have expanded our campaign to Europe,” Yoon said. “Wherever our companies are located worldwide, we will continue to make active efforts to address their challenges.”

KITA plans to open a new office in Warsaw, Poland, on Thursday to enhance its support for Korean businesses in Europe.