SEOUL– South Korea said Sunday it plans to officially deliver its intention to New Zealand to join a global pact on the digital sector that covers a wider array of issues beyond conventional free trade agreements.
South Korea completed its domestic procedures to join the Digital Economy Partnership Agreement (DEPA) in August, and now plans to on Monday propose the official launch of negotiations with DEPA members, according to the Ministry of Trade, Industry and Energy.
Earlier this month, Trade Minister Yeo Han-koo held a virtual meeting with his Singaporean counterpart Gan Kim Yong, asking the Southeast Asian country to support South Korea’s bid to become a member.
The DEPA, which comprises Singapore, New Zealand and Chile, came into effect in January this year. It is the first multilateral pact that covers digital trade issues.
The pact covers a wide array of topics, including digital identities, e-payments, data protection and cross-border data flows.
Source: Yonhap News Agency