The EU-South Korea Summit will be held today. Photo: Etienne Ansotte/European Union 2020

The 10th EU-Republic of Korea summit will take place on Monday, celebrating 60 years of diplomatic relations between South Korea and the EU. European representatives Charles Michel and Ursula von der Leyen will meet with Korean President Yoon Suk-Yeol in Seoul to discuss topics related to peace and stability, trade, and sustainable development.

The EU and South Korea are already cooperating on security issues such as Ukraine and North Korea, but cooperation in the energy sector is still in its early stages. The two parties began hosting working groups in 2018, with the aim of exchanging views related to environmental and energy policies.

There is a great prospect for increased EU-Korean collaboration in the green energy sector. Having been negatively impacted by the US Inflation Reduction Act, both the Korean and European green industries could benefit from increased cooperation in green tech and renewable energy sources. However, the collaboration between the Union and South Korea is likely to extend to security, development, and international trade as well.