By Diplomacy Journal Lee Kap-soo

Korea Customs Service (KSC) Commissioner Ko Kwang-hyo attended the 'European Business Roundtable in Korea' hosted by the European Chamber of Commerce in Korea on May 28.
 

The meeting was attended by 30 representatives of European companies in Korea and the European Union Delegation to Korea, and Commissioner Ko was invited by Philippe Van Hoof, Chairperson of the European Chamber of Commerce in Korea (ECCK).

Commissioner Ko expressed his pleasure to attend this year's event after last year's ('23.9.7), and shared the direction of tariff policy with European companies in Korea and listened to their difficulties related to imports and exports.

“Even in difficult economic conditions, the EU has maintained a strong partnership as Korea's number one investment partner and third largest trading partner,” said Commissioner Ko, thanking European businesses in Korea for their unwavering trust.

He also expressed his hope for the active cooperation of European investor companies, saying that the signing of the Digital Trade Agreement between Korea and the EU is expected to expand e-commerce between the two countries and create new businesses based on new technologies.

At the meeting, the Korea Customs Service introduced the Smart Innovation Comprehensive Plan, which includes innovation directions across all areas of customs administration.

First, the agency shared the current status of its work in the areas of 'regulatory innovation' that drastically overhauls unnecessary regulations and 'digital innovation' in customs administration that reflects new technologies such as business automation and artificial intelligence.

He then introduced policies to support businesses, such as revitalizing e-commerce exports, improving the customs duty refund process for companies, speeding up the determination of strategic goods, and simplifying proof of origin.

Finally, he emphasized that Korea Customs Service is taking the lead in establishing a green customs strategy to respond to global environmental changes, laying the foundation for a circular economy to import and export waste resources in an environmentally friendly manner, and responding to the EU's carbon border coordination system.

The European businessmen who participated in the meeting expressed their appreciation for Korea Customs Service's promotion of innovation policies and strengthening of on-site communication, and showed interest in the simplified origin recognition system for waste and recycled products, which is being promoted as part of the eco-friendly policy.

“Today's meeting was an opportunity to solidify the cooperation between European companies in Korea and Korea Customs Service,” said Commissioner Ko Kwang-hyo, adding, “We will continue to strengthen communication with European companies in Korea to facilitate trade between Korea and Europe.”