한독상공회의소 대표 인터뷰

As geopolitics impacts trade across the world, South Korea and Germany can help overcome their trade dependencies by collaborating through innovation.
That's the message a Seoul-based German official gave amid a high-level visit from Berlin last week.
Our Oh Soo-young has more.

South Korea and Germany can de-risk from global crises through stronger value-based partnerships and innovation.
That's according to Dr. Martin Henkelmann, President of the Korean-German Chamber of Commerce and Industry.
At a time when trade protectionism, war and geopolitical conflicts challenge the rules-based world order, he said middle powers like Korea and Germany need to strengthen their solidarity to keep markets free and open.
This came as German Vice Chancellor Robert Habeck visited Seoul last week, before heading to China where he called out Beijing for its unfair subsidies and support for Russia amid its invasion of Ukraine.
Following China, South Korea is Germany's second-largest Asian market, with bilateral trade standing at 33-point-nine billion dollars last year, according to the Korea Customs Service.
Henkelmann says de-risking from China presents untapped potential for growth between the two export-dependent economies.

"Besides the aspect that both countries are highly industrialized have a strong GDP that comes from industry, from manufacturing, we are value partners as we always say. And I think it has been very good sign that Korea has been supporting many of the sanctions against Russia I think de-risking means that we look for opportunities to diversify our sourcing, what we spoke about, that we look on opportunities to have different options for production."

With overlapping interests in fields like supply chain security, semiconductors, automobiles and renewable energy, the two energy-intensive economies can collaborate on decarbonization and innovation across all sectors.

"I think offshore wind would be a good possibility here. German turbines, the German knowledge, how we could set up established wind parks. Combining this with the skills and the knowledge here in the country when it comes to the steelwork, etc. could be a good fit then to go forward for renewable energy. And in other fields. We see that when it comes to quantum physics. And when we look on AI, these are all challenges we have together. Our industry has to see how they integrate AI into modern processes of manufacturing and what are the next steps here."

To spur cooperation, Henkelmann says German firms in Korea hope to see more clarity and stability in defining legal terms, especially labor laws, as well as better access to public procurement and certifications for green businesses.
He further called for an update to the South Korea-EU FTA, as Korea and Germany compete and collaborate towards a complementary partnership that reinforces global value chains.
Oh Soo-young, Arirang News.

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2024-06-24, 09:00 (KST)

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