1. On May 10, Foreign Minister Yu Myung-hwan, who is visiting Belgium, signed the Korea-EU Framework 
Agreement for Trade and Cooperation with Catherine Ashton, High Representative of the EU for Foreign 
Affairs and Security Policy, and the foreign ministers of the 27 EU member states. A Korea-EU Foreign 
Ministers’ Meeting ensued between Minister Yu and High Representative Ashton, in which the two sides 
exchanged views on Korea-EU relations; the current situation of the Korean peninsula and the EU; and 
major international issues.

2. Minister Yu, High Representative Ashton and the foreign ministers of the 27 EU member states formally 
signed the Korea-EU Framework Agreement for Trade and Cooperation, which was initialed in October 
last year. The Agreement reflects the deepening relationship between Korea and the EU, the second-
largest trade partner and largest investment destination for Korea; lays out a new development direction 
and vision for the Korea-EU relationship; and stipulates an expansion of the economy-focused Korea-EU 
Framework Agreement concluded in 1993 to include cooperation in government, home and judicial affairs. 
The Agreement, along with the Korea-EU FTA, is expected to serve as a significant legal and institutional 
foundation for the upgrading of the Korea-EU relationship to a strategic partnership.

3. In the Korea-EU Foreign Ministers’ Meeting, Minister Yu and High Representative Ashton took note 
of the steady development of Korea-EU ties with the main focus on human rights and democracy, and 
market economy since the establishment of diplomatic relations in 1963. They then agreed to cooperate 
so that the signing of the Framework Agreement would be followed shortly by the signing of the Korea-EU 
FTA, which will lead to a dramatic increase in trade and investment between Korea and the EU.

ο Minister Yu and High Representative Ashton exchanged views on ways to make a success of the G20 
Seoul Summit this November and the international community’s support efforts for the reconstruction of 
Afghanistan. In their in-depth discussion on the current situation of the Korean peninsula and the EU, 
including strides toward the EU integration with the effectuation of the Lisbon Treaty, they agreed to 
share the outcome of the investigation into the cause of the sinking of the Cheonan, in particular, 
and work together in this regard.

4. On May 11, Foreign Minister Yu is slated to deliver a speech at a meeting of the NATO North Atlantic 
Council; and have bilateral meetings with NATO Secretary-General Rasmussen, the European 
Parliament Delegation for the Korean Peninsula, and his Belgian counterpart.

                           Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation