Delegation of the European Union to Cambodia

EU Ambassador, Korea Consumer Agency President share need for tightened cooperation in consumer protection

24/07/2019 - 04:36
News

The meeting took place between the EU Ambassador to Korea Michael Reiterer and the President of the Korea Consumer Agency (KCA) on 3 July. Both sides exchanged their newly emerging consumer protection issues. The challenge of the EU to maintain and assure consumer protection in the dynamic single market, and its new challenges arising through technology development was covered in equivalence to the importance of personal data protection, GDPR. From the Korea side, their main issue is not far from the EU's, nevertheless there is a high concentration on online accommodation booking services. KCA seeks means to settle concrete relationship with EU and its MS institutions to resolve consumer complaints derived from on-line services.

KCA debriefed their recent research on the EU-Korea FTA's consumer welfare effect, which demonstrated that Korean consumers who purchased the EU products consider the current FTA to be beneficial.

Consumer products equipped with new technology are evolving quickly, which is a challenge to both the EU and Korea to assure product safety to the consumers in such a dynamic market. According to the KCA, due to the increased preference of European products in Korea, consumer complaints related to cross-border transaction between the EU and Korea have been increasing. Therefore, a stronger international cooperation is needed in order to prevent and also facilitate the resolution of consumer complaints against each other's business operators. The EU will continue to support Korean institutions in protecting consumer rights.

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