South Korea and the European Union (2020)
in: Oxford Research Encyclopedia of Politics
Since the inauguration of the official diplomatic relationship between Korea and the European Union (EU) in 1963, the bilateral relations have continuously upgraded, to reach the status of a Strategic Partnership in 2010, which is supported by three key agreements—the Framework Agreement, the Free Trade Agreement (FTA) and the Framework Participation Agreement. The bilateral relationship has undergone profound changes around the mid-1980s, transforming it from an economy-focused and one-sided preferential relationship to a comprehensive and more equal partnership. Among others, the 2000s have been most dynamic and productive in upgrading the Korea–EU bilateral relationship. Not only EU's policy initiatives such as the "Global Europe" strategy, but also Korea's aspiration to play an increasingly important leadership role in regional and global arena have been instrumental in instituting the strategic partnership between Korea and the EU. Considering the past trajectory and recent development, the Korea–EU relationship appears to have a bright future. Stronger policy dialogues and common efforts, especially in climate change and energy, education and culture, and international development cooperation, are needed to make the bilateral relationship more meaningful and commensurate to the weight of the two parties in the global politics and economy.