Seoul: South Korea met with the three members of the Digital Economy Partnership Agreement (DEPA) on Thursday to discuss joining the world's first plurilateral digital pact.
According to sources, the DEPA is an agreement struck by Singapore, New Zealand, and Chile to define important standards on digital trade concerns such digital identities, cross-border data flows, and artificial intelligence, which went into force in January 2021.
The agreement, according to South Korea, could serve as a broad platform for establishing a global digital cooperation network. Canada and China have expressed interest in joining the digital pact, according to South Korea.
According to the Ministry of Trade, Industry, and Energy, Yang Ghi-wuk, a South Korean chief delegate, met with his counterparts from Singapore, New Zealand, and Chile in their first Accession Working Group meeting to discuss Seoul's participation.
In remarks released prior of the conference, Yang, the ministry's director general for free trade agreement policy, stated, "We will proactively proceed in constructing a digital trade order" amid an increasing digital change following the Covid-19 pandemic.
South Korea applied to join the digital pact four months ago, and the virtual talks took place four months later.
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