By Diplomacy Journal Lee Kap-soo
The Korean-German Chamber of Commerce and Industry (KGCCI, President & CEO Marie Antonia von Schönburg) and the French-Korean Chamber of Commerce and Industry (FKCCI, CEO Sonia Chaieb) co-hosted a special reception with Korean Minister of Trade, Industry and Energy Kim Jung-kwan on September 29 at the Banyan Tree Club and Spa Hotel in Seoul.
The reception provided a platform to discuss recent developments in economic policy, foreign investment, and the overall business climate for German, French, and other European companies operating in Korea.
Around 200 representatives of European businesses gathered to engage in open dialogue and exchange with key government and industry stakeholders. From the Korean government side, Ryu Peob Min, Director General of Investment Policy at the Ministry of Trade, Industry and Energy, and Seo Myoung Seok, Director of Labor Relations and Legislation at the Ministry of Employment and Labor, attended the reception, highlighting the administration’s commitment to open dialogue with foreign investors.
Park Hyun-Nam, Chairperson of KGCCI, and David-Pierre Jalicon, Chairman of FKCCI, delivered the opening remarks.
In his keynote speech, Minister Kim Jung-kwan, representing Prime Minister Min-seok Kim, highlighted Germany and France as Korea’s close economic partners, noting their collaboration in future-oriented industries such as automobiles, AI, and carbon neutrality.
He emphasized that the Korean government is committed to fostering a business-friendly environment where foreign companies can grow alongside Korea as partners in economic development. To that end, he pledged to further systematize incentive programs in areas such as cash support, sites, and R&D, while continuously reviewing and reforming regulations to establish a world-class investment environment.
H.E. Georg Wilfried Schmidt, German Ambassador to Korea; H.E. Philippe Bertoux, French Ambassador to Korea; and H.E. Ugo Astuto, Ambassador-Designate of the Delegation of the European Union to Korea, emphasized the importance of economic cooperation between Korea and Europe in their welcome messages.
The program also featured a dynamic panel discussion with industry leaders, including Ana-Maria Boie, General Manager of Boehringer Ingelheim Korea, Mathias Vaitl, President & CEO of Mercedes-Benz Korea, Nicolas Foirien, President & Representative Director of Air Liquide Korea, and Hervé Peneau, and Chairman/CEO & Representative Director of Veolia Korea. The discussion reflected the strategic importance of Korea in the global operations of German and French companies, while addressing pressing regulatory and economic concerns. The event was concluded by Ugo Astuto, Ambassador of the Delegation of the EU to South Korea.
KGCCI Chairperson Hyun-Nam Park emphasized the growing depth of bilateral ties, stating: “In 2024, Germany’s cumulative direct investment in Korea reached USD 18.3 billion, with trade volume amounting to USD 31.3 billion, further strengthening the strategic economic partnership between our two countries. More than 560 German companies in Korea are creating over 100,000 jobs, and we look forward to even closer cooperation between our two countries in driving innovation and sustainable growth. We also hope that Korea’s new government will foster an environment that is favorable for business, investment, and employment, while advancing shared growth in partnership with foreign-invested companies.”
FKCCI Chairman David-Pierre Jalicon underscored France’s commitment, noting: “French companies are confident in Korea’s resilience and welcome the government’s message of openness, dialogue, and economic modernization. With €16 billion in bilateral trade and €5 billion in French FDI, our partnership continues to grow stronger.”
The reception underscored the strong commitment of German, French, and European companies to Korea’s economic development while setting the stage for deeper cooperation and mutual growth.
