By Kang Yoon-seung
The Ministry of Trade, Industry and Energy of South Korea reported on Tuesday that the country has agreed with the European Union to start negotiations for a digital trade agreement in order to promote wider alliances in the fields of e-commerce and data.
Trade Minister Ahn Duk-geun and Executive Vice President Valdis Dombrovskis of the European Commission declared the news during a bilateral trade conference held in Seoul. In a joint statement, they mentioned that the agreement will “guarantee legal certainty for companies and consumers involved in digital trade, enhance their protection in digital transactions, and promote an open, free and fair online atmosphere.”
“Korea and the EU have strong economic ties that have been established since 2011 with the Korea-EU Free Trade Agreement,” the statement said. “With these negotiations, we aim to bring this relationship into the digital world.”
South Korea has been striving to expand its digital trade agreements with different nations. So far, it has already sealed such agreements with Singapore, Chile, and New Zealand.
colin@yna.co.kr
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