KGCCI and FKCCI Discuss Improving Investment Environment with National Assembly Speaker

Discussion on the Yellow Envelope Act and Measures to Strengthen Economic Cooperation
Asia-Pacific Conference of German Business to Be Held Next Year
KGCCI Accelerates Preparations for the Event in Seoul

The Korean-German Chamber of Commerce and Industry (KGCCI) and the French Korean Chamber of Commerce and Industry (FKCCI) announced on November 27 that they met with Woo Wonsik, Speaker of the National Assembly, at the National Assembly on November 26 to discuss the business environment for foreign-invested companies, key regulatory issues, and ways to expand economic cooperation between the two countries. Park Hyunnam, Chairman of KGCCI, attended the meeting on behalf of German companies, while David-Pierre Jalicon, Chairman of FKCCI, represented French companies.

(From left) Stephan Sproi, Vice President of the Korean-German Chamber of Commerce and Industry (KGCCI) and CEO of Ellingkringer Korea, Woo Wonsik, Speaker of the National Assembly, and Park Hyunnam, Chairman of KGCCI Korea, are posing for a commemorative photo. Korean-German Chamber of Commerce and Industry (KGCCI)

During the meeting, the three parties exchanged views on the recently passed Yellow Envelope Act, energy transition policies, and measures to ensure investment predictability and industrial site stability for foreign-invested companies.

The KGCCI and FKCCI conveyed concerns from foreign companies regarding uncertainties and transparency issues related to the Yellow Envelope Act. They emphasized the need for supplementary measures during the implementation process to minimize any negative impact on South Korea’s investment appeal and job creation.

In the fields of energy transition and green infrastructure development, German and French companies shared plans to strengthen cooperation with South Korea. Both chambers agreed to continue close communication with the government and the National Assembly to support the stable operations of foreign-invested companies and to further reinforce the foundation for sustainable economic cooperation.

The KGCCI is preparing for the Asia-Pacific Conference of German Business (APK), which will be held in Seoul in October next year. The APK is a large-scale event attended by around 800 political and economic leaders from Germany and the Asia-Pacific region. High-level German political and business figures are also expected to visit South Korea for the event.

Park Hyunnam, Chairman of the KGCCI, described the meeting as “a meaningful occasion that demonstrates the importance of economic relations between Korea and Germany.” He added, “The APK to be held in Seoul next year is expected to serve as a decisive opportunity to further strengthen economic cooperation between the two countries.”

He continued, “The KGCCI will continue to engage in close dialogue with the government to ensure that German companies can invest and grow stably in Korea, and will make ongoing efforts to foster a predictable and reliable business environment.”

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