Minister Moon Seung-wook of the Ministry of Industry Discusses New Industry Cooperation with Business Leaders from Four Central European Countries
[Sejong=Asia Economy Reporter Kwon Haeyoung] Economists from Korea and the Visegrad Group (V4) countries gathered in one place to explore cooperation opportunities in new industries such as secondary batteries and bio.
According to the Ministry of Trade, Industry and Energy on the 4th, the 'Korea-V4 Business Forum' was held on the 3rd (local time) in Budapest, Hungary, co-hosted by the Korea Chamber of Commerce and Industry, KOTRA, and the Hungarian Export and Investment Agency.
This is the first economic event held between Korea and the V4. The V4 is a consultative body formed in 1991 in Visegrad, Hungary, consisting of four countries: Poland, the Czech Republic, Hungary, and Slovakia.
On the Korean side, Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy, Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry, President Yoo Jung-yeol of KOTRA, CEO Jeon Young-hyun of Samsung SDI, and CEO Kim Hyung-gi of Celltrion Healthcare attended. On the V4 side, the heads of the Hungarian Export and Investment Agency and representatives of business organizations from Poland, the Czech Republic, and Slovakia were present.
The forum featured presentations and exchange events on topics including ▲Enhancing Korea-V4 industrial and investment cooperation ▲Exploring business opportunities in eco-friendly vehicles ▲Green and sustainable energy cooperation ▲Digital and biopharmaceutical cooperation.
An official from the Ministry of Trade, Industry and Energy explained that this event is significant in that "Korea and the V4, which possess excellent basic science technology and human resources, presented future cooperation directions for joint prosperity in the era of great transition such as carbon neutrality."
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Trade between Korea and the V4 reached a record high of $16.8 billion (approximately 19.8 trillion KRW) last year despite the COVID-19 pandemic. In particular, Korean companies' investments in the V4 region have shifted focus from electrical and electronic sectors in the early 1990s, automotive in the 2000s, to green mobility from the mid to late 2010s. The annual average investment growth rate by period reaches around 150%.
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