EU strikes digital deal with South Korea to boost trade ties
This move between the EU and the East Asian country comes as the bloc aims to strengthen its relationships with allies. The agreement is anticipated to enhance online trade between the two, although critics caution that it may lead to potential risks for personal data security.
The EU has cut a deal over digital trade with South Korea setting out rules for consumer protection and offering a mutual legal framework for businesses operations and to facilitate data flows, the Commission announced on Monday, News.Az reports citing Euronews.
“Just imagine a European IT company providing software updates remotely. Or a European engineer executing projects online,” Commissioner for Trade and Economic Security, Maroš Šefčovič said, announcing the agreement, adding: “European consumers will also enjoy better protection when buying Korean goods online, whether it is books, cosmetics or electronics, with safeguards against spam or unfair trade practices.”
Another Digital Trade Agreement was struck last July with Singapore, although its ratification is still pending approval from the European Parliament and member states.
Not everyone shares Šefčovič’s enthusiasm for the deal. "The Singapore agreement seems to be a template for future digital trade deals, locking in potentially unrestricted data flows, limits on regulatory oversight, and structural risks to fundamental rights,” said Itxaso Dominguez de Olazabal, policy advisor at EDRi, an association of digital rights organisations.
She expressed concerns about what she described as a “rushed” process and provisions that could harm the EU's digital rulebook. Dominguez de Olazabal added that civil society and digital rights groups are scrutinising these agreements, but “the Commission seems to be accelerating the process, pushing these deals through before real scrutiny can take place.”
Indeed, Šefčovič mentioned “very intense negotiations” are also ongoing with Thailand, Indonesia, Malaysia, the Philippines, and India, with similar deals in the pipeline.
“It is in our interest to continue partnering with like-minded countries like the Republic of Korea to establish global standards for digital trade rules and cross-border data flows, while also strengthening our overall trade and investment ties,” he said.
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