KCCI opens new office in Germany

The Korea Chamber of Commerce and Industry's (KCCI) Frankfurt office / Courtesy of KCCI

The Korea Chamber of Commerce and Industry (KCCI) opened a new office in Germany to strengthen its bilateral business ties between Korea and the European country amid global supply chain instability, the business lobby said Monday.

The new Frankfurt office will serve as a key partner for hundreds of Korean companies doing business there. Germany is Korea's largest European trade partner.

The KCCI aims to reinforce private-level networking activities with its German counterpart and jointly tackle critical global issues, such as climate change and supply chain disruptions.

The Frankfurt office is the third overseas office for the KCCI after it opened its first foreign office in Beijing in 1993 and Hanoi in Vietnam in 2009.

"Germany is home to artificial intelligence (AI) smart factories and is a key tech partner in hydrogen energy and batteries for Korea," a KCCI official said. "The business lobby will play a crucial role as a key partner for a group of some 880 Korean firms there."

KCCI's entry into Germany came as the leading European nation gained growing traction for its leadership in AI-powered industrial manufacturing. Korea is also heavily reliant on manufacturing sectors for its exports.

The business lobby expects its new office to help Korean firms expand their strategic ties with German partners in emerging growth areas, such as eco-friendly energy, batteries and mobility.

"Calls for joint actions between the two countries are rising amid growing concerns about global supply chain disruptions," Park Dong-min, senior vice president at the KCCI, said. "We will keep strengthening bilateral trade collaborations with Germany and take steps to make up for weak points in both sides' respective positions of the global value chain."

The new office will also play a role as an economic collaboration platform between companies from the two countries. It will push for diverse business projects under partnerships with the German government and economic organizations there.