Outlook for Korea-Germany Business Relations and Key Industries
German Ambassador: “Chancellor Merz’s Visit Offers an Opportunity for Cooperation”

The Korean-German Chamber of Commerce and Industry (KGCCI) announced on the 28th that it held the “KGCCI Half-Year Economic Outlook 2026” event together with Yangju City at Conrad Seoul on the 27th.

The event gathered around 90 key figures from Korean and German companies and institutions, industry leaders, and experts, who shared in-depth insights on the latest trends in Korea-Germany business relations, despite challenging internal and external conditions. Notable speakers included Georg Schmidt, German Ambassador to South Korea; Juliana Lee, Asia Senior Economist at Deutsche Bank; and Katarina Viklenko, Head of German Trade & Invest (GTAI) Korea.

Hyunnam Park, Korea Chair of KGCCI and Deutsche Bank Korea Country Head, stated, “With the Korean economy on an upward trajectory, there are practical opportunities to deepen Korea-Germany cooperation in advanced manufacturing, artificial intelligence (AI), semiconductors, and energy.” He added, “This trend will be a central theme at the 19th Asia-Pacific Conference of German Business (APK 2026), jointly hosted by KGCCI in Seoul this October, where business leaders from Germany and Korea will gather in one place to open a new chapter in the partnership between the two countries.”

Ambassador Schmidt, speaking under the theme “Korea-Germany Political Outlook,” remarked, “In this era of geopolitical change, like-minded middle powers such as Germany and Korea must cooperate more closely.” He further noted, “German Chancellor Friedrich Merz’s visit to Korea at the end of October, in connection with APK 2026, will be an excellent opportunity for such cooperation.”

Katarina Viklenko, Head of German Trade & Invest (GTAI) Korea, gave a presentation on “Korea’s Economic Outlook,” stating, “Korea, buoyed by the global AI boom, is expected to record its strongest economic growth in recent years, with this year’s GDP growth forecast rising from 2.6% to over 3%.” She continued, “The announcement of the three mega-projects—advanced semiconductors, AI data centers, and physical AI—has driven unprecedented levels of investment, further strengthening Korea’s position as a leading technology hub. However, to sustain this momentum, it will be necessary to achieve broad innovation across the economy, and ongoing diversification is needed to mitigate vulnerabilities to future shifts in the global technology cycle.”

Juliana Lee, Asia Senior Economist at Deutsche Bank, analyzed Asia’s economic outlook, highlighting the resilience shown by Asian economies amid ongoing uncertainty, and focused on Korea’s growth opportunities in the age of AI. She commented, “Asia’s resilience has long been underestimated, but Asian economies continuously adapt and grow even in times of high uncertainty. In particular, Korea is well positioned to benefit from the AI era; however, in order to maintain its edge, it must effectively navigate both the opportunities and risks brought about by rapid technological change.”

The event concluded with a public discussion moderated by Maria Antonia von Schoenburg, KGCCI Representative, where Heewan Lee, CEO of Airbus Korea; Geunmin Ryu, CEO of Trump Korea; and Juliana Lee, Asia Senior Economist at Deutsche Bank, participated as panelists to share in-depth perspectives on each industrial sector.

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