Seoul: South 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, conveyed this during discussions with Erik Kurzweil, managing director for Asia and the Pacific at the European External Action Service (EEAS), at the South Korea-EU Joint Commission.

According to Yonhap News Agency, 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. Both parties emphasized the importance of reinforcing strategic cooperation amid global supply chain instability and a shifting economic security environment.

In this context, Park sought the EU's active collaboration in the U.S.-led Forum on Resource Geostrategic Engagement initiative on critical mineral supply chains, also known as FORGE. Furthermore, Park urged the EU to ensure that its proposed and existing industrial regulations and green policies, such as new tariff rates and carbon emissions rules for imported goods, are implemented predictably, minimizing negative trade impacts on Korean businesses.

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