German Chancellor Merz: EU to Lead in Protecting Global Trade Order

In his speech at the Asia-Pacific Conference of German Business, German Chancellor Friedrich Merz stated that the European Union will take a leading role in protecting and developing the global economic order at a time when free trade is under pressure.

Merz, who is holding meetings in Seoul, expressed that they aim to offer opportunities beyond bilateral agreements and emphasized their readiness to act together with like-minded partners. Stating that international trade is a source of prosperity for many countries, the Chancellor argued that this order must be protected.

Visiting Singapore, Japan, and South Korea as part of his Asia tour, Merz met with South Korean President Lee Jae Myung and decided to establish an advanced security partnership. The discussions aim to deepen cooperation in defense and economy against the challenges posed by U.S. customs tariffs and China's state-supported industrial expansion.

The South Korean Ministry of Industry, drawing attention to the similarity of industrial structures between the two countries, announced that nine memorandums of understanding were signed to support startups and market entry in areas such as electricity, energy, and bio-health.