Seoul: Trade Minister Yeo Han-koo stressed the need to enhance economic partnership between South Korea and the European Union (EU) to jointly address global challenges while meeting with representatives from major European firms on Wednesday, his office said.

According to Yonhap News Agency, the meeting in Seoul was attended by some 40 officials from major European firms in the automotive, infrastructure, semiconductor, and consumer goods sectors. These firms included Mercedes-Benz, Volkswagen Group, Copenhagen Offshore Partners, PandG, L'Oreal, Air Liquide, and ASML.

Yeo insisted that the two sides can create greater synergy by integrating South Korea's global competitiveness in advanced industries with the EU's leadership in the international community. He emphasized the need for an enhanced partnership in critical minerals, supply chains, and cutting-edge technologies.

Through such cooperation, the two economies will be better positioned to respond to challenges in the global trade environment, such as the intensifying tech war between the United States and China, supply chain uncertainties, and the growing nexus between economic and security issues, the minister was quoted as saying.

Yeo also pledged continued consultations with the EU on measures to help improve European companies' access to the South Korean market, the ministry said.