South Korea’s planned Security of Information Agreement with the European Union (EU) would help institutionalize security cooperation and position Korean defense firms for future European programs, but it would do little to remove the industrial and political barriers that still limit access to Europe’s defense market.

President Lee Jae Myung, European Council President Antonio Costa and European Commission President Ursula von der Leyen announced on June 10 in Brussels that South Korea and the EU would begin negotiations on the agreement, framing the move as a response to the growing overlap between European and Indo-Pacific security.

Lee said the agreement