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A review of the S&T agreement between the European Union and the Republic of Korea

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  • A review of the S&T agreement between the European Union and the Republic of Korea
  • BOBE,Bernard; CREHAN Patrick
  • European Commission


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Title A review of the S&T agreement between the European Union and the Republic of Korea
Similar Titles
Material Type Reports
Author(English)

BOBE,Bernard; CREHAN Patrick

Publisher

Brussel,Belgium : European Commission

Date 2013
Pages 68
Subject Country South Korea(Asia and Pacific)
Europe(Europe)
Language English
File Type Link
Subject Industry and Technology < Science/Technology
Government and Law < General
Government and Law < Governance
Holding European Commission
License

Abstract

Becoming the eleventh largest economy in less than three decades thanks to innovation, Korea strongly values the role of research and innovation as an engine for growth. Having spent more than €10 billion on R&D in 2010 alone, Korea has expressed its ambition to become the world’s seventh power in science and technology by 2025. This situation and the fact that Korea is the only Asian country so far to have a running Free Trade Agreement with the EU1 sets expectations for S+T cooperation at a high level. The EU is South Korea’s second trading partner and its biggest source of foreign direct investment. Recognizing that Korea is a rapidly growing economy, President José Manuel Barroso speaking at the European Council in October 2012, stressed that Korea is for Europe a source of immediate growth if it tackles access to government procurement, the protection of IPR and a commitment to sustainable development. Against this background, the S&T Agreement entered into force with South Korea in 2007.