of certain industries and companies.Alexander Hirschle, Director Korea of Germany Trade & Invest, said that despite decreasing exports to China and low private household consumption, FDI into Korea especially from Europe will increase in the upcoming months according to official projections. He also pointed out the emerging strength of the Korean cosmetics industry and IOT-sector which both show enormous growth potential. Dr. Woo Cheonsik, senior fellow at KDI gave a presentation about his views on the long-term perspectives of the Korean economy. For him, Korea’s globalization potential has to be still further developed to seek new opportunities for connection and collaboration. Such can be in form of further FTA’s, FDI or new geo-political constellations but. He further went on to also emphasize the importance of the North-Korean situation. He pointed that a possible Korean unification would increase growth potentials of the peninsula and thus concluded, that in the long-term Korea’s economy would benefit from it. Mr. Markus Stehle, Co-CEO of Mando Hella, gave a more industry specific view on the future car and electronic industry which will be more and more converged together. He described it as a form of new mobility which will be automated, connected, electrified and multimodal. To be successful in this future field, he pointed out the necessity for an exchange on new innovations, future visions and
structural changes between Economy, Politics/public sector and Science. Speaking of innovations, Alina Gratschner and Carlo Jacobs from Accelerate Korea gave insights about the Korean startup industry, government support programs and its future prospects. Korean startups such as Kakako, Coupang and others have been really successful in different fields and are promising to be key players in each of their fields. German startups can also profit from such an innovation friendly environment as it is shown by the case of Yogiyo, the Korean subsidiary of the German startup “Delivery Hero.” KGCCI will also show its own efforts to foster and promote innovative ideas and companies in Korea. The Chamber is going to award innovative companies in Korea during the KGCCI Innovation Award Gala at the Floating Islands on the Han River on Sept. 30.Korean-German Chamber of Commerce and IndustryThe Korean-German Chamber of Commerce and Industry (KGCCI) has been promoting economic relations between the Federal Republic of Germany and the Republic of Korea since its foundation in 1981. With around 500 members from various industries, KGCCI is the second-largest bilateral Chamber in Korea. Secretary General
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