The Europe-Korea Foundation (EKF) was originally planned by a proposal from the board of the European Union Chamber of Commerce in Korea (EUCCK) during the financial crisis in 1997, to help the Korean economy from recovering from its economic difficulties and demonstrate that the European Union (EU) nations and businesses have a keen interest in and affection for Korea, not only in the field of economic cooperation but also in the areas of social welfare and cultural exchange. The foundation was eventually established in May 2001 as the charity arm of EUCCK with an approval from the Korean Minister of Foreign Affairs and Trade (MOFAT). Being independently approved by MOFAT, the foundation is a separate entity which is financially independent from the EUCCK.

As a public foundation, the work of the Europe-Korea Foundation focuses on improving relations between Europe and the Korean Peninsula as well as enhancing mutual cooperation across various areas. EKF wants to continue to strengthen ties between the EU and Korea and engage in activities promoting inter-Korean understanding, global peace and friendship, through a variety of corporate social responsibility (CSR) programmes. These programmes include cultural exchanges between Korea and Europe, scholarships for Korean talents wishing to study in Europe, international sports events, Fair Trade advocacy and raising awareness activities, training seminars, academic research, and philanthropic activities such as assistance to the underprivileged, social welfare improvement, and donations to local Korean NGOs. The Europe-Korea Foundation will do its utmost to help form a genuine partnership between Korea and Europe.