Ministry of Industry Holds Public Hearing on Joining the 'Digital Economy Partnership Agreement' to Gather Public Opinions

[Sejong=Asia Economy Reporter Joo Sang-don] On the 11th, the Ministry of Trade, Industry and Energy will hold a public hearing at the Korea Chamber of Commerce and Industry to gather public opinions regarding the accession to the Digital Economy Partnership Agreement (DEPA).

DEPA is an agreement aimed at strengthening cooperation in the digital economy sector among Singapore, New Zealand, and Chile, which came into effect on January 7 of this year.

The government is reviewing measures to support Korean companies' overseas expansion by participating in regional digital norm discussions through joining DEPA, the first plurilateral digital-only agreement, and expanding cooperation in digital new technologies and innovation. Accordingly, before establishing the plan to join DEPA in accordance with the 'Act on the Conclusion and Implementation of Trade Treaties,' a public hearing is being held to collect opinions from stakeholders, experts, and the general public.

Yang Ki-wook, Director of Free Trade Agreement Policy at the Ministry of Trade, Industry and Energy, stated, "DEPA, which aims to be an open plurilateral agreement, is likely to expand its membership mainly in the Asia-Pacific region, and through our accession, it is expected that a network to activate digital cooperation can be established early."

"In particular, by strengthening cooperation in digital new technology fields that promote the processing, utilization, and distribution of data, which is the foundation of the digital economy, it is expected to contribute to the successful implementation of the government's actively pursued Digital New Deal policy," he added.