Bilans d’évènement
FKCCI, KGCCI Co-host Special Reception with Prime Minister: Investors Reassured Amid Economic and Political Challenges
The French-Korean Chamber of Commerce and Industry (FKCCI) and the The Korean-German Chamber of Commerce and Industry (KGCCI) co-hosted a special reception with Korean Prime Minister Han Duck-soo on December 11 in Seoul, South Korea.
This special reception was organized to assess recent developments in economic policy, foreign investment, and overall status of business environment for French, German and other European companies in Korea. This gathering comes on the heels of last week’s brief martial law imposition, underscoring the urgency of dialogue and collaboration in navigating Korea’s evolving business landscape. The event attracted more than 190 representatives of European companies from KGCCI and FKCCI, following last week’s brief martial law imposition. From the Korean government side, Minister for Trade Dr. Cheong Inkyo attended the reception, among other ministry cabinet members.
The Chairwoman of KGCCI, Mrs. Park Hyun-Nan, the Chairman of FKCCI, Mr. David-Pierre Jalicon, the Ambassador of Germany, H.E. Mr. Georg Wilfried Schmidt, and the Ambassador of France, H.E. Mr. Philippe Bertoux, delivered introductory speeches ahead of the Prime Minister.
During his speech, Prime Minister Han reassured investors of the Korean government’s stability and commitment to fostering a robust business environment, stating:
“Amid recent changes in the domestic political landscape, Korea has maintained a solid and resilient economic system. Government ministries, including the Ministry of Trade, Industry and Energy, in close collaboration with financial institutions, are making concerted efforts to ensure a stable environment for foreign investment and economic activities within the country.” He emphasized, “We respectfully encourage you to pursue proactive business operations, underpinned by trust and confidence in the strong fundamentals of the Korean economy.”
The reception also featured a dynamic panel discussion with industry leaders, including Stéphane Deblaise (Renault Korea CEO), Roberto Mauro (Pasqal Asia Pacific CEO and Pasqal Korea General Manager), HaJoong Chung (KGCCI Vice Chairperson and Siemens Korea CEO), and David Jones (RWE Renewables Korea Country Manager). Panelists delved into the challenges encountered by French and German companies operating in the Korean market, such as the importance of digitalization, ESG, and regulatory improvements to enhance Korea's global competitiveness, the role of renewable energy in manufacturing investment decisions, challenges in exporting and localizing European vehicles in Korea, and Korea's potential as a hub for quantum technology.
FKCCI Chairman David-Pierre Jalicon stated:
"The FKCCI is confident that Korea will successfully navigate the current political situation and effectively manage any economic impacts that may arise as it did happen in the past. Following our meeting with Vice Prime Minister and Minister of Finance and Economy, Mr. Choi Sang-Mok, along with MOTIE Minister Mr. Ahn Duk-Geun last Friday, we reassured our business community, particularly abroad, that professional and business activities in Korea remain fully operational. This assurance is particularly significant as the relationship between Korea and France continues to strengthen, with bilateral trade reaching a record 16 billion euros last year, double the volume of a decade ago. French companies in Korea have played a pivotal role, contributing 5 billion euros in FDI stock, achieving a cumulative turnover of 14.6 billion euros, and creating 25,000 jobs."
KGCCI Chairperson Hyun-Nam Park remarked:
"With accumulated German FDI in Korea surpassing €17 billion and trade volume of € 34 billion in 2023, the economic relations between South Korea and Germany are evident. The Prime Minister’s presence today in these significant times ensures investors. We sincerely value the Korean government’s support for foreign companies. KGCCI and German companies look forward to deepening collaboration with Korea to foster innovation and sustainable growth."
The reception underscored the strong commitment of French, German and European companies to Korea’s economic development while setting the stage for deeper cooperation and mutual growth.
About the French-Korean Chamber of Commerce and Industry (FKCCI) www.fkcci.com
Since 1986, the French-Korean Chamber of Commerce and Industry (FKCCI) has represented the French-Korean business community in Korea. With over 450 member companies from both France and Korea, and through strong partnerships with various institutions in both countries, FKCCI leverages its established network to support businesses in their success in both the Korean and French markets. It is part of the global network of French chambers of commerce abroad, which includes more than 33,000 member companies across 95 countries and 249 chambers. Thanks to its dynamism and expertise, FKCCI is the third-largest foreign chamber of commerce in Korea and the sixth-largest among the network of French Chambers abroad, in terms of revenue for the second consecutive year. In addition, as a nonprofit organization working with leading business leaders, FKCCI provides optimized services in various fields, including expertise on the Korean market, market research, networking, business centers, communication, corporate support, etc. The FKCCI belongs to CCI France International, the official and global organization, gathering together the 121 French Chambers of Commerce abroad.
About the Korean-German Chamber of Commerce and Industry (KGCCI) www.kgcci.com
The Korean-German Chamber of Commerce and Industry (KGCCI) has been serving as an official representative of German Business in Korea since its foundation in 1981. It is the second-largest foreign chamber of commerce in Korea with a network of around 500 members. As the first point of contact for German and Korean companies exploring business opportunities in each country, KGCCI and its subsidiary KGCCI DEinternational serve as a communication channel and offer professional services to support market entry and expansion. The services include, among others, market research, business partner matching, trade fair business, delegation trips, and investment promotion. Additionally, KGCCI supports governmental initiatives such as the Korean-German Energy Partnership. KGCCI belongs to the global German Chamber Network Abroad (AHK) with more than 150 German Chamber offices in 93 countries and over 50,000 members worldwide. Its umbrella organization is the German Chamber of Commerce and Industry (DIHK) with offices in Berlin and Brussels, serving the 79 Chambers in Germany (IHK) and their 3.6 million member companies.
