The Vice Trade Minister, Park Jung-sung, held a meeting with his European Union counterpart to discuss the EU's proposal for stricter steel safeguard measures and regulations concerning batteries, according to reports.
During the Seoul meeting with Denis Redonnet, the European Commission's director general for trade and economic security, Park expressed apprehensions regarding the EU's proposal to decrease tariff-free quotas on foreign steel by 47 percent from June 2026 onwards.
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Park urged for the highest possible export quota for Korean steel producers, as per the Ministry of Trade, Industry and Resources.
Park also emphasized the importance of uniformity and foresight in the European Union's efforts to implement battery regulations.
He highlighted the substantial investments by Korean companies in Hungary, Poland, and other European countries aimed at enhancing the region's advanced battery production capabilities and supply networks.
He also requested the European Union to conduct an impartial investigation into the nuclear power plant project in the Czech Republic, which was awarded to Seoul. He emphasized that both the Korean government and companies followed all foreign subsidy regulations diligently throughout the bidding procedure.
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In May, the European Commission launched an investigation into the Czech nuclear energy project concerning potential foreign subsidies. The focus of the inquiry is to assess whether the Korea Hydro & Nuclear Power Co. (KHNP), the successful bidder for the project, obtained unfair subsidies from abroad.
This investigation was prompted by a complaint from EDF, the competing bidder against KHNP in the tender process. The government department conveyed that Park and Redonnet deliberated strategies to strengthen collaboration between Korea and the European Union regarding supply chains and economic security amidst increasing uncertainties in global trade.
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The ministry announced that both parties are scheduled to convene the first strategic dialogue on trade, supply chains, and technology in the initial half of 2026, with the objective of elevating their bilateral cooperation to a more sophisticated and holistic partnership.