How will EU and Korean relationship develop?

The EU is seeking an increasingly close relationship with South Korea which would further boost our vibrant economic ties and reflect the coincidence of shared values, world views and common interests. The EU and South Korea are currently engaged in two complementary negotiation processes: a Free Trade Agreement (since May 2007) and the upgrading of the existing Framework Agreement (since June 2008). The EU relationship with South Korea is based on the 2001 Framework Agreement for Trade and Cooperation. In recent years the scope of the overall relationship has developed from a predominantly trade-based relationship to an active and broad-based cooperation. The agenda for cooperation includes science and technology, the information society, education, social policy, customs, competition, environment and development assistance. The political dialogue culminates in the EU-South Korea biennial summit covering foreign policy, economic and trade relations, and regional and global challenges. Source: europa.eu