Interview: "Korea's Infrastructure and Skilled Labor Are Competitive... Noteworthy as a Base for De-Risking from China"

Dr. Martin Henkelmann, President and CEO of the Korean-German Chamber of Commerce and Industry (KGCCI), in an interview with E-Daily on the 21st, highlighted why German companies are focusing on Korea as a base for "de-risking" (risk avoidance). He stated, "Well-established infrastructure, skilled labor, and a favorable business environment are sufficiently attractive factors for German companies to reduce their reliance on a single market (i.e., China) and choose Korea."

On the 20th, Robert Habeck, Germany's Vice Chancellor and Minister for Economic Affairs and Climate Action, visited Korea for a two-day trip. He met with Prime Minister Han Duck-soo to discuss ways to enhance economic cooperation between the two countries and held a business roundtable to listen to the voices of German and European Union (EU) companies operating in Korea.

Dr. Henkelmann assessed that Vice Chancellor Habeck's visit amidst the escalating trade conflict between the EU and China is significant as it symbolizes the importance of expanding cooperation between Korea and Germany.

He also expressed his expectations by stating, "Collaboration in future technologies such as AI, renewable energy, autonomous driving, and advanced manufacturing holds tremendous potential for economic growth and solving global issues. By leveraging the complementary strengths and expertise of German and Korean companies, we can create new growth opportunities in new industries."

For more detailed interview content, please check the link.