Relations between the European Union and South Korea. The Multilateral Context to Korea-Italy Relations

The bilateral relationship between Italy and South Korea is embedded within the wider relationship that the latter has developed with the European Union since the establishment of diplomatic ties between the two sides in 1963. This chapter reviews the evolution of the EU-Korea relationship with a specific focus on the importance of bilateral trade and investment, charting the significance of the conclusion of a comprehensive free trade agreement in 2010. The chapter explains the wider significance of this agreement for the strengthening of their relationship, and the rising awareness of the need also for greater cooperation in the area of security, against the background of Russia’s war against Ukraine, and the long-standing threats emanating from North Korea. The evolution and future expectations in the EU-Korea relations are then discussed in the context of global power competition between the United States and South Korea, both of which are close allies of the United States. The chapter concludes with an emphasis on the significance of continuing close cooperation between the EU and Korea, and the wider significance of their relationship against the background of the deterioration of the Liberal International Order.