Deputy Foreign Minister Requests "Fair Competition" for Korean Companies in UK over Steel Safeguards and EV Subsidies

2nd Korea-UK High-Level Economic Consultation
Deepening Economic Security and Advanced Technology Cooperation
Reaffirming the Commitment to a Global Strategic Partnership Amid Uncertainties

Jina Kim, Deputy Minister of Foreign Affairs, requested a favorable review to ensure fair competition for Korean companies operating in the UK market, in relation to the strengthening of steel safeguard measures and electric vehicle subsidies.

Jina Kim, Deputy Minister of Foreign Affairs, met with Catherine West, Minister of State for the Indo-Pacific at the UK Foreign, Commonwealth and Development Office, at the Government Seoul Office on the 18th to hold the "2nd Korea-UK High-Level Economic Consultations." Ministry of Foreign Affairs

According to the Ministry of Foreign Affairs, Deputy Minister Kim conveyed this request during the "2nd Korea-UK High-Level Economic Consultation" with Catherine West, Minister of State for the Indo-Pacific at the UK Foreign, Commonwealth and Development Office, held at the Government Seoul Office on the same day. The Korea-UK High-Level Economic Consultation serves as a senior-level economic dialogue channel overseeing overall economic cooperation between the two countries, including economic security, climate change, and development cooperation. The first meeting was held in 2023, making this the second session.

Both sides reaffirmed their commitment to the continued development of the "Global Strategic Partnership," as confirmed during the Korea-UK summit held on June 17 on the sidelines of the G7 Summit, and agreed to further deepen cooperation in addressing bilateral and global issues.

At the bilateral level, the two sides reviewed and discussed future cooperation directions on key issues, including ▲trade and investment ▲economic security ▲negotiations to improve the Free Trade Agreement (FTA) ▲advanced technologies such as artificial intelligence (AI) and quantum technology ▲defense industry cooperation ▲energy and culture. Both sides agreed on the importance of economic security cooperation among like-minded countries amid global supply chain instability and rising geopolitical risks, and decided to expand policy coordination on the occasion of major consultative bodies such as the Minerals Security Partnership (MSP).

They also agreed to accelerate negotiations to improve the Korea-UK Free Trade Agreement (FTA) to expand trade and investment between the two countries, and to broaden cooperation in new areas such as digital and supply chains. In particular, both countries recognized the important role of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a strategic consultative body amid intensifying global protectionism, and the UK expressed its active support for Korea's accession to the CPTPP, should Korea decide to join.

During a working luncheon held prior to the meeting, the two sides exchanged views on major regional and global issues, such as the international economic situation and tariff negotiations with the United States, and discussed ways to expand future cooperation.

An official from the Ministry of Foreign Affairs explained, "This meeting strengthened the foundation for practical cooperation between the two like-minded countries in key economic fields such as economic security and advanced technology, and solidified the basis for the future-oriented development of the 'Global Strategic Partnership' amid growing global economic uncertainties."