The Lisbon Strategy, Europe 2020 strategy, and Green Deal, which are the EU’s growth strategies, prioritize fostering growth and employment. We examine how industrial policies have evolved in line with these goals. The Lisbon Strategy was renewed in February 2005, marking the adoption of an integrated framework approach for industrial policies for the first time. Subsequently, further steps have been taken to expand it based on the principle of sustainability in industrial policies. This has been extended to sustainable growth, a key priority of the Europe 2020 strategy, providing the EU industry with an opportunity to establish an integrated policy in the era of globalization, with competitiveness and sustainability at its core. The international agenda also highlights the transition to carbon neutrality through the concept of a circular economy, exemplified by the launch of the Green Deal, the EU’s medium-/long-term growth strategy, in December 2019. Green transition and digital transformation are the goals of the Industrial Strategy prepared in March 2020, with corresponding legislation underway to implement these objectives. As such, sustainability and circularity mandates are likely to become requirements in international trade deals. Therefore, the EU industrial policy is changing in tandem with its growth strategy, expanding into a growth strategy that goes beyond integration with environmental policy. At its core lies the principle of sustainable development in the EU treaties. These changes to the EU industrial policy significantly impact the international economic order, necessitating a review of the methods of integrating industrial and environmental policies in South Korea as well.