The relations between the European Union (EU) and the Republic of South Korea are founded on increasingly shared political values, strong economic links reflecting larger and larger bilateral trade and investment flows, and the EU’s reiterated support for South Korea’s policy of engagement with the North.
In 1995, the EU decided to negotiate a “Framework Agreement on Trade and Cooperation“, in recognition of South Korea’s increasing role in the Asian and global economy, and of its success in consolidating democracy. This Agreement entered into force in April 2001 and is implemented through an annual meeting of a Joint Committee.
