📋 Tender Overview
The European Union and South Korea announce the agreement on a bilateral agreement on digital trade. The negotiations had taken about one and a half years. The agreement includes a wide range of agreements - starting with mutual recognition of electronic contracts and signatures for measures to protect consumers from spam and fraudulent practices on the Internet and the consumption of digital tariffs and ensuring cross -border data traffic. The European protection standards for personal data and the protection of privacy are also fully anchored in the agreement.
BMWK State Secretary: The Agreement on Digital Trade With South Korea is another important milestone for our efforts to place the EU as a key player in the global digital economy and to help shape worldwide rules and standards. Strategic cooperation are becoming increasingly important in the digital area which is why the Agreement with South Korea as an important high-tech and value partner is a milestone that I strongly welcome.
The agreement on digital trade complements the free trade agreement between the EU and South Korea which has existed since 2011 which at the time had not yet dedicated its own chapter to the area of digital trade. It is only the second bilateral agreement of the EU which only regulates digital trade. The EU had completed the first agreement of this kind in July 2024 with Singapore.
