Analysts said that the tour represents an important diplomatic activity aimed at strengthening the ROK’s economic security and expanding its strategic cooperation space in the European market.
The trip is particularly significant as it comes shortly after President Lee marked the first anniversary of his inauguration on June 4. As for the G7 Summit, this is the second time Korea has participated as an official guest.
At his first stop, Belgium, President Lee held what has been described as an important summit meeting with Belgian Prime Minister Bart De Wever, focusing on measures to advance bilateral relations. The visit carries special significance as Belgium and the ROK are commemorating the 125th anniversary of diplomatic relations (1901-2026).
The two leaders agreed to promote investment cooperation between the two countries’ businesses, with key priorities including battery materials, energy, and strategic industries such as semiconductors.
During his meeting with European Commission President Ursula von der Leyen, both sides expressed enthusiasm for strengthening cooperation in strategic areas such as trade, investment, supply chains, digital technology, advanced technology, energy, and innovation.
A key outcome of President Lee’s visit to the European Union was the issuance of a joint statement and the shared commitment to establish the EU-Republic of Korea High-Level Economic Dialogue to deepen cooperation in economic security, trade policy, and industrial policy.
The joint statement issued by Korea and the EU on the eve of the G7 Summit underscores Seoul’s efforts to expand its role and standing within cooperation mechanisms involving Europe.
However, several unresolved issues remain in the economic relationship, including the EU’s steel tariff policies and its Carbon Border Adjustment Mechanism. Korea argues that the EU’s relatively rigid regulations constitute trade barriers for businesses from the East Asian nation and do not reflect the level of trust and close ties that characterise bilateral relations.
Nevertheless, President Lee Jae Myung expressed satisfaction with the visit. He emphasised that the latest engagements with the EU marked an important milestone, ushering ROK-EU cooperation into a new phase that would be more dynamic and cordial.
At the second stop of his tour, Italy, a G7 member state, President Lee received a warm welcome. A highlight of the visit was the signing of an agreement to elevate bilateral relations to a special strategic partnership.
The upgraded relationship is expected to provide a stronger foundation for enhanced cooperation in economic affairs, trade, defence, science and technology, and people-to-people exchanges.
During his visits to Italy and the Vatican, discussions extended beyond economic cooperation to include security issues, notably developments on the Korean Peninsula.
Observers believe that President Lee Jae Myung’s European tour ahead of his arrival in France for the G7 Summit will provide a solid foundation for him to attend the gathering in Evian-les-Bains with confidence, marking the ROK’s second appearance as an official guest at the G7 Summit.
