The Korean-German Chamber of Commerce and Industry (KGCCI, President & CEO Marie Antonia von Schönburg), in cooperation with Yangju City, held the KGCCI Half-Year Economic Outlook 2026 on August 27 at Conrad Seoul.
The event, organized to provide exclusive insights into the developments of Korean-German business relations in these challenging times, drew more than 90 key officials, business leaders and experts from Korean and German companies and institutions. Speakers included H.E. Georg Schmidt, German Ambassador to South Korea; Juliana Lee, Asia Chief Economist at Deutsche Bank; and Katharina Viklenko, Director and Correspondent Korea at Germany Trade & Invest (GTAI).
Hyun-Nam Park, Korean Chairperson of KGCCI, stated, “Korea's economy is gaining momentum, creating real opportunities for deeper Korean-German cooperation in advanced manufacturing, AI, semiconductors and energy. This momentum will be a central theme when KGCCI co-hosts Asia-Pacific Conference of German Business (APK) 2026 in Seoul this October, bringing together German and Korean business leaders to chart the next chapter of our partnership.”
Ambassador Schmidt, addressing the political outlook for German-Korean bilateral relations, said, “Geopolitical developments require that like-minded middle powers like Germany and Korea work more closely together. The visit to Korea of Chancellor Merz on the occasion of the Asia Pacific Conference of German Business at the end of October will be an excellent opportunity to do just that”.
Presenting on “Economic Outlook for Korea,” Katharina Viklenko, Director and Correspondent Korea of GTAI, noted: “Fueled by the global AI boom, Korea is expected to record its strongest economic growth in several years, with GDP forecasts for 2026 ranging from 2.6% to above 3%. The announcement of three mega projects in advanced semiconductors, AI data centres and physical AI is attracting unprecedented investment and reinforcing Korea's position as a leading technology hub. However, sustaining this momentum will require broader innovation across the economy and continued diversification to reduce vulnerability to future shifts in global technology cycles.”
Meanwhile, Juliana Lee, Deutsche Bank’s Chief Economist for Asia, discussed Asia’s economic outlook, highlighting the region’s growth opportunities and potential challenges. “Asia’s resilience has been underestimated, yet the region continues to adapt and grow through periods of high uncertainty,” she said. “South Korea is particularly well positioned to benefit from the AI era, but sustaining that advantage will require navigating the opportunities and risks that come with rapid technological change.”
The event closed with a panel discussion, moderated by Marie Antonia von Schönburg, President & CEO of KGCCI, in which Paul Lee, Chief Representative of Airbus Korea; Geunmin Ryu, Managing Director of TRUMPF Korea; and Juliana Lee, Asia Chief Economist at Deutsche Bank shared perspectives of their respective industry sectors.
