Korea-Portugal Forum "Cooperation Areas Are Electric Vehicles, Semiconductors, and Renewable Energy"

KCCI to Host 'Korea-Portugal Business Forum' on 12th with Invitation to Costa, Prime Minister of Portugal

The Korea Chamber of Commerce and Industry (KCCI) held the 'Korea-Portugal Business Forum' on the 12th at the Four Seasons Hotel in Seoul, jointly with the Embassy of Portugal in Korea and the Portuguese Trade and Investment Agency (AICEP).

In celebration of the visit of Portuguese Prime Minister Ant?nio Costa, KCCI also achieved the establishment of the 'Korea-Portugal Private Economic Cooperation Committee' through this business forum. Park Kyung-il, CEO of SK Ecoplant, was appointed as the Korean co-chairman, and both sides agreed to open a new era of economic cooperation between the two countries based on the private economic cooperation committee.

The ceremony commemorating Commerce and Industry Day was held on the 31st at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

The forum was attended by key Portuguese government officials including Prime Minister Ant?nio Costa, Minister of Economy and Maritime Affairs Ant?nio Costa Silva, Minister of Science, Technology and Higher Education Elvira Fortunato, Minister of Infrastructure Jo?o Galamba, as well as Portuguese business leaders such as Francisco Vilhena da Cunha, CEO of GeoSat, Bruno Veloso, Vice President of ADENE, and Henrique R?zio, CEO of SoPlast.

On the Korean side, attendees included Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry; Park Kyung-il, CEO of SK Ecoplant and Korean co-chairman of the Korea-Portugal Economic Cooperation Committee; Lee Yoon-chul, Chairman of the Ulsan Chamber of Commerce and Industry; Sung Min-seok, CEO of Hanon Systems; Kim Sung-kwon, Chairman of CS Wind; Moon Jae-do, Chairman of the Hydrogen Convergence Alliance (H2Korea); Lee Sang-hoon, Chairman of the Korea Energy Agency; Lee Hyung-hee, Chairman of the SK Communications Committee; and Woo Tae-hee, Executive Vice Chairman of the Korea Chamber of Commerce and Industry. Government officials such as Minister of Trade, Industry and Energy Lee Chang-yang and Ambassador to Portugal Cho Young-moo also participated.

During the forum, a Memorandum of Understanding (MOU) was signed between the Ulsan Chamber of Commerce and Industry and the Portuguese Trade and Investment Agency. Through this MOU, both organizations agreed to continue mutual cooperation to expand exchanges in economic and industrial fields.

The presentation sessions featured an overview of Portuguese trade and investment and various discussions on cooperation plans in the fields of electric vehicles, semiconductors, and renewable energy.

Lu?s Rebelo de Sousa, Executive Director of the Portuguese Trade and Investment Agency, who presented on Portugal's trade and investment environment, stated, "Portugal is a bridgehead for entering global markets including Latin America, Europe, and North Africa," adding, "Portugal already produces about 60% of its domestic electricity consumption from renewable energy, and with well-established security and logistics infrastructure, we hope to expand investment and market entry by Korean companies with excellent technological capabilities."

Sung Min-seok, CEO of Hanon Systems, recognized as a representative company that has succeeded in localizing eco-friendly products in Europe, said in the automotive and semiconductor cooperation session, "Recently, the EU has been actively supporting deregulation and technological development in the eco-friendly industry," and added, "In particular, the Portuguese government shows great interest in the eco-friendly renewable energy industry, making it an attractive investment destination."

Alfonso Yuste, Head of EDPR Korea, a global renewable energy company under Portugal's Electric Power Corporation, who presented on cooperation in the clean energy sector, said, "Korea, which has already secured a significant position in the energy transition field, is an important market for EDPR," and added, "We plan to increase investment in Korea by 2025."

Kim Sung-kwon, Chairman of CS Wind, who spoke on the Korea-Portugal partnership, explained, "CS Wind plans to expand its existing coastal power generation capacity nearly threefold through an investment of 120 million euros by 2024," and noted, "Administrative support from the Portuguese government, such as expedited construction permits and visa assistance, has greatly helped the expansion of our business in Portugal."

Woo Tae-hee, Executive Vice Chairman of KCCI, said, "Portugal is a country with relatively low wages in Western Europe and a developed automobile and auto parts industry, offering many opportunities for synergy through cooperation with Korean companies," and added, "I hope this business forum will serve as a catalyst to expand cooperation and exchanges in various fields such as electric vehicles, semiconductors, and renewable energy."

This content was produced with the assistance of AI translation services.