Tanks, guns and rocket launchers: The ties that bind the EU and South Korea
politico.eu • • world
Key Points:
- South Korean President Lee Jae Myung will meet with EU Commission chief Ursula von der Leyen and Council President António Costa to strengthen tech, defense, and industrial ties in the first summit of its kind in three years.
- The EU and South Korea aim to launch a new competitiveness partnership to enhance cooperation on trade, investment, and economic security, alongside signing a digital trade agreement.
- Defense cooperation is a major focus, with South Korea becoming a key arms supplier to European countries like Poland and Romania, offering fast delivery and NATO-compliant equipment amid Europe's efforts to deter Russia.
- South Korea seeks greater access to the EU’s €150 billion Security Action for Europe (SAFE) loans-for-weapons program, but faces limits due to EU rules favoring domestic industry; only Canada has secured special participation terms so far.
- The EU is considering South Korea's potential involvement in a future European Defense Union, which aims to integrate defense and military industries more closely, with a proposal possibly emerging after the NATO summit in July.