SOUTH KOREA/EUROPE – Korea matters for Europe/Europe matters for Korea (IES)

Project leaders: Dr. Ramon Pacheco Pardo (KF-VUB Korea Chair), Dr. Satu Limaye (East-West Center in Washington), Dr. J. James Kim (Asan Institute for Policy Studies), Dr. Dong-Hee Joe (Korea Institute for International Economic Policy)

The Korea Matters for Europe/Europe Matters for Korea publication maps the relationship between the Republic of Korea and the European Union’s 27 Member States. Covering a diverse range of topics including security, trade, investment, educational exchange and cultural connections, this publication highlights the importance of the Korea-EU relationship.

As leading world economies and strong supporters of multilateralism, the European Union and South Korea are deepening their partnership. South Korea is the EU’s 9th largest export market and the EU is South Korea’s 4th largest export market. The EU’s investment stock in South Korea increased by 50%, while South Korea’s investment stock in the EU Increased by 187% since the implementation of the EU-South Korea FTA. The EU and South Korea exchange over 4.5 million tourists. Student exchanges are thriving between South Korea and the EU. 98 universities across the EU offer Korean studies and 46 universities in South Korea offer studies about EU countries. Almost 20,000 EU citizens live in South Korea, while over 138,000 South Koreans live in the EU. The EU and South Korea hold foreign minister-level discussions on North Korea as well as a regular political dialogue.