South Korea & Germany boost economic ties & industrial cooperation

South Korea’s trade, industry, and energy minister Dukgeun Ahn met with Germany's vice chancellor and federal minister for economic affairs and climate action, Robert Habeck, on June 21 in Seoul. The meeting, attended by a German economic delegation comprising representatives from 13 German companies, focused on discussing global economic issues and bilateral cooperation measures aimed at enhancing future industrial competitiveness.

The discussions led to agreements on several key areas. Both countries will continue joint efforts in establishing standards and data sharing to facilitate the digital transition and accelerate the utilisation of industrial AI. The Korean-German Energy Partnership will be a platform for maintaining cooperation and understanding on energy policies. Additionally, the two nations will bolster their mutually complementary relations through joint R&D projects, particularly in the field of future mobility, South Korea’s ministry of trade, industry, and energy said in a press release.

In his welcome address, minister Ahn highlighted the strong potential synergy between Korea and Germany in terms of industrial competitiveness, digital innovation, and decarbonisation, citing their robust manufacturing bases. With Germany being Korea’s largest trading partner in Europe, both sides reaffirmed their close economic ties, especially considering the record-high bilateral trade volume achieved last year.

Fibre2Fashion News Desk (DP)