Yonhap News has interviewed Volker Treier, Chief Executive of Foreign Trade and Member of the Executive Board at the German Chamber of Commerce and Industry (DIHK). Trierer noted that 35% of German companies in Korea view trade barriers as a significant risk, exceeding the global average of 16%. He believes it's timely to discuss upgrading the Korean-EU FTA to version 2.0, given the need to address challenges related to strengthening regulations and regulatory issues impacting supply chain and market diversification.
Trierer also stressed the importance of collaborative action, forming alliances with countries like Korea to secure vital raw materials and resources. He noted that Korea and Germany, both industrialized nations with trade surpluses and fiscal stability, possess complementary strengths. He stressed the importance of joint action in the semiconductor industry, stating that a genuine semiconductor ecosystem needs to be established in Germany or Europe, making bilateral discussions between Germany, the EU, and Korea highly significant. He further discussed his views on various topics, including the U.S. Inflation Reduction Act, Germany's de-risking strategy, and Germany's trade policy stance, among others.
DIHK is a central organization with 79 regional chambers of commerce (IHKs) in Germany and supports and coordinates 93 German Chambers of Commerce Abroad (AHK) in more than 150 locations, representing German companies. Learn more about KGCCI (AHK Korea), the representative of the German business community in Korea
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