Press Release: EU-Korea consultations on shipbuilding founder

Intensive discussions held at the end of September 2000 between the Commission and Korean experts, failed to achieve an effective solution to the problem of unfair price undercutting by Korean shipbuilders, raised by the EU. The Korean side was unable to offer a proposal which would alleviate EU concerns. The Commission will report to the Council on the failure of the negotiations in October 2000 and propose alternative ways forward, including a possible action in the WTO under the Trade Barrier Regulation (TBR).