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Saturday, July 13, 2024

South Korea and Germany strengthen economic ties and enhance industrial cooperation

South Korea’s Minister of Trade, Industry, and Energy, Dukgeun Ahn, met with Germany’s Vice Chancellor and Federal Minister for Economic Affairs and Climate Action, Robert Habeck, in Seoul on June 21. The meeting included a German economic delegation representing 13 companies and focused on global economic issues and enhancing bilateral cooperation to strengthen industrial competitiveness.

Discussions resulted in agreements across several key areas. Both countries committed to collaborating on standards establishment, data sharing for digital transformation, and accelerating the adoption of industrial AI. The Korean-German Energy Partnership will continue to serve as a platform for mutual cooperation on energy policies. Furthermore, they agreed to enhance their complementary relationship through joint research and development projects, particularly in future mobility, according to a press release from South Korea’s Ministry of Trade, Industry, and Energy.

Minister Ahn underscored the potential synergy between South Korea and Germany in industrial competitiveness, digital innovation, and decarbonization, highlighting their robust manufacturing sectors. With Germany as South Korea’s largest trading partner in Europe, both sides reaffirmed their strong economic ties, noting the record-high bilateral trade volume achieved last year.

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