Industry ministry urges EU parliament to revise Industrial Accelerator Act

The industry ministry said Wednesday it has formally requested that the European Parliament ensure its proposed Industrial Acceleration Act does not discriminate against South Korean companies. Park Jeong-seong, the ministry's head of trade negotiations, delivered the stance during a meeting on September 23 with Anna Cavazzini, chair of the parliament's Committee on Internal Market and Consumer Protection.

Cavazzini serves as a co-rapporteur for the legislation. Park emphasized that while the bill aims to strengthen EU industrial competitiveness and supply chain resilience, the current draft carries a high risk of violating international trade laws. He stressed that any final version must fully comply with existing free trade agreement norms.

During the discussions, Park highlighted how Korean enterprises have contributed to the European economy through decades of investment in key sectors such as automobiles, batteries, semiconductors and steel. He argued that these companies have established local production bases and created jobs, making them reliable partners rather than external threats.

"Korea and the EU are important partners that have built a tight industrial ecosystem through long-term investment and trade," Park said. "We will demand equal recognition for trustworthy partner nations so our products are not disadvantaged compared to EU-made goods, and we will communicate closely with the EU to ensure discriminatory treatment is not reflected in public procurement programs covered by the act."

Both sides acknowledged that deepening industrial and trade cooperation between Seoul and Brussels is increasingly vital amid growing uncertainty in the global trading environment and ongoing supply chain realignments. They agreed to maintain close communication on future legislative developments regarding the act and other major trade issues.