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AI & Enterprise

EU mulls tougher cloud procurement rules, raising possibility of excluding U.S. providers

The European Union is pushing to introduce stricter cloud service standards that could allow it to exclude Amazon, Microsoft and Google from key public tenders, Reuters reported. The move is set to be included in an upcoming Cloud and AI Development Act package. The European Commission plans to mandate digital sovereignty requirements for procurement in sensitive sectors and add use of EU-made software and hardware as a required evaluation item alongside price.

Finance

KOFIA discusses European expansion with Luxembourg ambassador

Korea Financial Investment Association held talks with Luxembourg on ways to support Korean financial investment firms expanding into Europe and identifying new global businesses. KOFIA said its chairman Hwang Seong-yeop met Luxembourg Ambassador to South Korea Jacques Flies on May 13. The meeting discussed Luxembourg’s role as an asset management hub, its digital asset infrastructure and its space industry ecosystem, and cooperation opportunities with Korea’s financial investment industry.

Industry

EU electric vehicle target easing could wipe out 34 battery plants, risking supply chain collapse

Easing European Union car carbon-emissions targets could cut 2030 electric vehicle production in Europe to about half current forecasts and erase industrial opportunities equal to 34 Northvolt-sized battery plants, an analysis said. Transport & Environment warned weaker CO2 rules could sharply reduce battery capacity, threaten up to 47,000 jobs and hit cathode material projects. It also said slower EV uptake could add 50 billion euros in oil import costs in 2026-2035.