Korea seeks EU role in minerals partnership, help easing regulatory burdens on Korean firms

Park Jong-han, right, deputy foreign minister for economic affairs, shakes hands with Erik Kurzweil, managing director for Asia and the Pacific at the European External Action Service, during the 22nd South Korea-European Union Joint Commission at the foreign ministry in Seoul, Wednesday. Courtesy of Ministry of Foreign Affairs

Korea on Wednesday expressed hope that the European Union (EU) will play an active role in a multilateral framework on critical minerals and minimize the impact of its green regulatory package on Korean businesses, the foreign ministry said.

Park Jong-han, deputy foreign minister for economic affairs, made the call in his talks with Erik Kurzweil, managing director for Asia and the Pacific at the European External Action Service (EEAS), during the Korea-EU Joint Commission, the ministry said.

The commission was established in 2001 as a diplomatic dialogue channel on economic and trade issues. Since 2012, its scope has expanded to cover broader areas, including political, social and cultural issues.

The two sides agreed on the need to further strengthen strategic cooperation amid global supply chain instability and a changing economic security environment, the ministry said.

In that regard, Park asked for the EU's active cooperation in the U.S.-led Forum on Resource Geostrategic Engagement initiative on critical mineral supply chains, also known as FORGE.

Park also called on the EU to ensure that its proposed and existing industrial regulations and green policies, including new tariff rates and carbon emissions rules for imported goods, are implemented in a predictable manner with a minimal negative trade impact on Korean businesses.

They also agreed to continue efforts to further bolster cooperation in science and technology, digital and innovation, and climate change.