Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
'Future of Korea-Germany economic cooperation is decarbonization and ESG': KCCI
Prime Minister Han Duck-soo, second from right, poses with German President Frank-Walter Steinmeier, third from right, along with other business executives after holding in-depth discussions on ways to further expand economic cooperation at the Grand Hyatt Hotel in Seoul, Friday. Courtesy of KCCI
By Kim Hyun-bin
By Kim Hyun-bin
Korean and German business lobby groups emphasized the importance of decarbonization and establishing a strong foundation for environmental, social and corporate governance (ESG) principles during the Korea-Germany Business Roundtable held at the Grand Hyatt Hotel in Seoul Friday.
The Korea Chamber of Commerce and Industry (KCCI), together with the Korea-Germany Chamber of Commerce and Industry (KGCCI), held in-depth discussions on ways to further expand economic cooperation in celebration of the 140th anniversary of the establishment of diplomatic ties between Korea and Germany while exploring medium to long-term cooperation between the two countries centered on the decarbonization economy and the introduction of ESG principles.
“Economic cooperation between the two countries has been centered on the manufacturing industry, but now it should be extended to carbon neutrality and ESG, which are the trends of the times,” Woo Tae-hee, vice chairman of the KCCI, said. "I hope that today's event will serve as an opportunity for the two countries to open the door to a new level of economic cooperation."
From the Korean side, Prime Minister Han Duck-soo, Trade Minister Ahn Duk-geun, Korean Ambassador to Germany Kim Hong-gyun and Korea-Germany Economic Cooperation Chairman Lee In-yong among other company executives took part.
On the German side, German President Frank-Walter Steinmeier, Sabine Hepperle, Head of the Directorate-General at the Federal Ministry for Economic Affairs & Energy, Head of the Office of the President Dorte Dinger, German Ambassador to Korea Michael Reiffenstuel along with other German company executives attended.
“Germany is Korea's largest trading partner in Europe, and despite the prolonged pandemic, bilateral trade reached a record high last year. The two countries have a lot in common in that they are actively pursuing a decarbonization economy and ESG introduction, so economic cooperation between the two countries will be able to bring about greater synergy in the future,” said Lee In-yong, chairman of Korea-Germany Economic Cooperation.
The KCCI and the KGCCI signed the Korea-Germany Economic Cooperation Expansion Business Agreement in June 2018, but due to the pandemic, the first meeting was held in January this year via video. At the meeting, Lee In-yong, president of Samsung Electronics, was appointed as the new chairman of the Korea-Germany Economic Cooperation.
“Companies currently face enormous challenges, but they must not give up their efforts to reduce carbon emissions and comply with ESG standards. We can achieve results,” said Holger Gerrmann, Chairman of the KGCCI.