South Korea lobbies European Parliament members over EU Industrial Acceleration Act
In short
A South Korean government delegation led by Kim Jang-hee (김장희) met key members of the European Parliament in Strasbourg on 20 and 21 October. It asked that Korean companies not be disadvantaged under the EU's Industrial Acceleration Act (IAA), the Industry and Trade Ministry said on 22 October.
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South Korea's Ministry of Industry and Trade (산업통상부) said on 22 October that a government delegation had held a series of meetings with key members of the European Parliament in Strasbourg, France, on 20 and 21 October. The delegation was led by Kim Jang-hee (김장희), director-general for new trade strategy support. It asked that Korean companies not be disadvantaged in the EU's Industrial Acceleration Act (산업가속화법, IAA) legislative process. [ 2 , 3 , 4 ]
According to the ministry, the visit was arranged to explain Korea's position directly while review of the bill is concentrated in the period to year-end. That review follows the publication in September of a European Parliament-level amendment to the IAA. Kim met key members of the three standing committees responsible for the IAA: the Internal Market and Consumer Protection committee (IMCO), the International Trade committee (INTA) and the Industry and Energy committee (ITRE). ZDNet Korea reported that those he met belonged to the EPP, S&D, ECR, RENEW and PfE political groups. [ 2 , 3 ]
The government stressed that Korean companies have invested in the EU over a long period and contributed to local production, job creation and supply chain building. Kim asked that Korea be recognised as a trusted partner so that its firms are not discriminated against in autos, nuclear power, steel and batteries. He also asked that the equivalence principle be applied consistently to Korean firms across the areas the IAA covers, including public procurement and public support. According to ZDNet Korea, he said cooperation with competitive partners such as Korea fits the IAA's aim of strengthening EU industrial competitiveness. [ 2 , 3 ]
The ministry said the government has submitted position papers four times since the IAA bill was announced in March and has continued high-level outreach to the European Commission, member states and the European Parliament. On 15 October it launched a public-private task force on the IAA to strengthen joint response with industry. [ 2 , 3 ]
Kim said Korea is a key partner that has contributed to the EU's industrial competitiveness and supply chains. He said the government would carry out a series of high-level and public-private outreach efforts centred on the task force so that Korean companies' views are fully reflected in the EU legislative process. The documents do not report how the European Parliament members responded. [ 2 , 3 ]
Why it matters
The ministry says parliamentary review of the bill is concentrated in the period to year-end, so the talks fall within the legislative process. The documents do not report any response from the European Parliament members.
Key facts
- A government delegation led by Kim Jang-hee (김장희), head of the ministry's new trade strategy support office, held a series of meetings with key European Parliament members in Strasbourg, France, on 20 and 21 October. [ 2 , 3 ]
- Kim met key members of the three standing committees responsible for the IAA: IMCO, INTA and ITRE. [ 2 , 3 ]
- Kim asked that Korea be recognised as a trusted partner so Korean firms are not discriminated against in autos, nuclear power, steel and batteries. [ 2 , 3 ]
- Kim also asked for the equivalence principle to be applied consistently to Korean firms across the IAA, including public procurement and public support. [ 2 , 3 ]
- The government has submitted four position papers since the IAA bill was announced in March. [ 2 , 3 ]
- A public-private IAA task force was launched on 15 October. [ 2 , 3 ]
Confirmed by several sources
- The Industry and Trade Ministry said its delegation met key European Parliament members in Strasbourg on 20 and 21 October to explain Korea's position on the IAA. [ 2 , 3 , 4 ]
- The visit followed the September publication of a European Parliament-level amendment to the IAA, with bill review continuing intensively until year-end. [ 2 , 3 ]
- The government has submitted four position papers since March and launched a public-private task force on 15 October. [ 2 , 3 ]
Still unclear
- How the European Parliament members responded to the Korean requests. None of the documents report any response from the members met.
- What the amended IAA text contains. The documents mention a September European Parliament-level amendment but do not describe it.
What local media are saying
Timeline, local time
- The government launched a public-private task force to respond to the EU IAA. [ 2 , 3 ]
- The delegation began meetings with European Parliament members in Strasbourg. [ 2 , 3 ]
- The Strasbourg meetings continued. [ 2 , 3 ]
- Newsis published its report on 22 October, citing the ministry's announcement. [ 2 ]
- Yonhap published its report on 22 October. [ 4 ]