Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Prime minister vows better foreign investment environment
Prime Minister Han Duck-soo, front row eighth from left, poses with participants in a special reception co-hosted by the Korean-German Chamber of Commerce and Industry (KGCCI) and the French-Korean Chamber of Commerce and Industry (FKCCI) at Grand Hyatt Seoul, Thursday. Courtesy of KGCCI
By Park Jae-hyuk
By Park Jae-hyuk
Prime Minister Han Duck-soo promised German and French businesspeople in Korea that the Yoon Suk-yeol administration will improve the foreign investment environment significantly over the next five years, communicating closely with foreign entrepreneurs here in Korea in order to help solve operational difficulties that they face.
He made the promise in his keynote speech delivered during a special reception co-hosted on Thursday evening by the Korean-German Chamber of Commerce and Industry (KGCCI) and the French-Korean Chamber of Commerce and Industry (FKCCI).
Emphasizing that the most important means for economic development is increased investment, Han said the government is targeting investment-oriented growth as its main policy goal.
He also asked foreign businesspeople here to pay more attention to the government's efforts to host the World Expo 2030 in Busan.
“We express our gratitude to Prime Minister Han Duck-soo for his meaningful speech,” KGCCI Chairperson Park Hyun-Nam said. “Today is a great start for a fruitful collaboration between the Korean government and the German and French as well as the whole European business community. We look forward to a valuable and reliable partnership in the years to come.”
FKCCI Chairman David-Pierre Jalicon said, “We are much honored to co-organize the event with you Mr. Han Duck-Soo, prime minister of Korea, especially as it is the first time you address a business foreign community since your nomination.”
Jalicon, however, pointed out that there are still issues that French companies are facing, regarding market access, trade or simply doing business in Korea.
Maria Castillo Fernandez, Ambassador of the European Union to Korea, commended Korea's gesture of re-selling five LNG ships to Europe, considering that the green and digital transition has become a key pillar of the post-pandemic recovery, for both the EU and Korea, but also as a response to Russia's war in Ukraine.
“The EU welcomes very much Korea's plan to become a 'global pivotal state' focusing on values and freedom, and shouldering responsibilities commensurate with Korea's economic might,” she said.
Porsche Korea CEO Holger Gerrmann, co-chairperson of the Korean-German Chamber of Commerce and Industry / Courtesy of Porsche Korea
Porsche Korea CEO to co-chair KGCCI
Prior to the special reception, the KGCCI held the 41st annual general meeting at the venue and elected Porsche Korea CEO Holger Gerrmann as a co-chairperson, who will lead the chamber's board of members together with Park, managing director and branch manager of Deutsche Bank's Seoul branch.
Since 2017, the KGCCI has had co-chairpersons each from the Korean and German sides respectively to better underline its bilateral character.
“We will continue to create the foundation for Korean and German companies to grow together, honoring the long standing successful business relationships of our two countries and emphasizing the importance of innovation and social responsibility,” Gerrmann said after his election.