KGCCI Economic Outlook 2025 in Busan: Advancing Korean-German Economic Ties Amid Global Challenges
(Seoul, April 16, 2025) The Korean-German Chamber of Commerce and Industry (KGCCI), in collaboration with Busan Metropolitan City, hosted the KGCCI Economic Outlook 2025 on April 15 at Paradise Hotel Busan, South Korea. The event was followed by a special reception, jointly organized by KGCCI and the German Embassy, bringing together around 130 business leaders, government officials, industry experts and members of the German community in Korea.
The event aimed to deliver in-depth insights into the evolving landscape of Korean-German business relations, alongside an analysis of the current state of the Korean economy and industries considering ongoing challenges and the government’s transition period. Distinguished participants included H.E. Georg Schmidt, the German Ambassador to South Korea, Heong-joon Park, Mayor of Busan Metropolitan City, Katharina Viklenko, Director and Correspondent for Korea at Germany Trade & Invest (GTAI), and Dr. Charlie Lay, Senior Economist at Commerzbank AG.
In her welcoming speech, Marie Antonia von Schönburg, the newly appointed President & CEO of KGCCI, underscored the vital role of economic cooperation between Korea and Germany. She stated, “As we navigate today’s complex global landscape, fostering innovation, investment, and strategic partnerships are key. My priority is to deepen collaboration between our members and stakeholders, ensuring sustained success for both Korean and German businesses.”
H.E. Georg Schmidt, the German Ambassador to the Republic of Korea, shared insights on the current political landscape and the state of bilateral relations. He noted, “2025 will be no less challenging than 2024. Whereas Germany and Korea have mastered some of their own political challenges, the global outlook is worrying. The Russian war of aggression, the crisis in the Middle East and conflicts elsewhere show no signs of abating. There are dark clouds over world trade and the international division of labor which has allowed both our countries to prosper. Closer cooperation between countries which have common values and interests, like Germany and Korea, could help us to overcome these challenges.”
Katharina Viklenko, Director and Correspondent for Korea at GTAI, provided an overview of Korea's economic developments and key industries. Meanwhile, Dr. Charlie Lay, Senior Economist at Commerzbank AG, shared his insights on the global economic outlook.
A panel discussion, moderated by Felix Kalkowsky, Vice President of KGCCI, featured insights from Bongki Choi, Vice President of Global Business Development and Key Account Sales for Cello Square by Samsung SDS Global along with speakers Katharina Viklenko and Dr. Charlie Lay. The panel delved into the perspectives of these leaders across different sectors, discussing challenges and opportunities in an evolving economic landscape.
The event was followed by a special reception with around 130 attendees, including H.E. Georg Schmidt, the German Ambassador to South Korea, and representatives from major German companies. During the reception, KGCCI, its member companies, and the German Club donated 6.5 million KRW to Soyang Rainbow Hills (formerly Soyang Orphanage), an institution devoted to supporting underprivileged children. The donation will be used to renovate its facilities for children. The reception highlighted by a performance from the Soyang Chamber Orchestra, comprising talented teens from Soyang Rainbow Hills.
Von Schönburg reaffirmed KGCCI’s dedication to social impact, stating, “At KGCCI, we believe business success comes with a responsibility to give back. This donation reflects our commitment to creating a positive impact in our community.”