Korean and German Business Leaders Agree to Strengthen Cooperation in Advanced Industries and Supply Chains

KCCI Hosts 'HanDok Business Roundtable'

Korean and German business leaders have agreed to collaborate on the advancement of future high-tech industries and the stabilization of global supply chains.

At the Korea-Germany Business Roundtable, Park Seung-hee, Chairman of the Korea-Germany Economic Cooperation Committee at the Korea Chamber of Commerce and Industry, is delivering a greeting. Photo by Korea Chamber of Commerce and Industry

On the 20th, the Korea Chamber of Commerce and Industry (KCCI) hosted the "Korea-Germany Business Roundtable (BRT)" at the KCCI headquarters in Seoul, inviting a German economic delegation together with the Korea-Germany Chamber of Commerce and Industry and the German Embassy in Korea. The event, themed "Tasks for Creating Synergy in Korea-Germany Economic Cooperation," was attended by 10 executives from major Korean conglomerates including Samsung, SK, Hyundai Motor, LG, Lotte, HD Hyundai, Doosan, and Hyosung, as well as 17 CEOs from leading German companies.

Park Seung-hee, Chairman of the Korea-Germany Economic Cooperation Committee and President of Samsung Electronics, stated in his opening remarks, "The two countries, with a history spanning over 140 years, have increased trade based on their manufacturing industry competitiveness, and Germany has become Korea's largest trading partner in Europe."

He continued, "However, recent global economic uncertainties demand a new direction for cooperation," emphasizing, "The two countries should further strengthen collaboration in advanced industries such as artificial intelligence (AI), e-mobility, renewable energy, and biotechnology, where they possess excellent technology and competitiveness."

Bernhard Klutich, Director of the Federal Ministry for Economic Affairs and Climate Action representing Germany, remarked, "The two countries are strategic partners with high cooperation potential in advanced industries such as batteries and semiconductors," highlighting the need to expand cooperation beyond existing areas to encompass the entire industrial sector.

Lee Hyun-jin, Senior Researcher at the Korea Institute for International Economic Policy, said during the presentation session, "Korea and Germany can be good partners due to their similar economic structures," adding, "In the face of global changes caused by US-China conflicts, the Russia-Ukraine war, and supply chain instability, we can jointly find ways to overcome these crises."

Lee Sung-woo, Director of International Trade at KCCI, stated, "In a situation where variables such as global conflicts and supply chain instability persist, it is necessary to establish a stable economic cooperation foundation between the two countries through policy coordination and joint corporate responses," and added, "We will regularly hold meetings to explore concrete cooperation measures, starting with today's BRT."

He further noted, "Through the KCCI's Germany office, opened last week in Frankfurt, we will strengthen the Korea-Germany private network and actively support the local business activities of our companies."

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