Minister of Economic Affairs Al-Wazir and Dr. Waldschmidt in Seoul

Promoting relations between Korean and Hessian companies and establishing networks formed the focus of a seminar event held as part of a delegation trip to Japan and Korea by the Hessen Ministry of Economic Affairs. Hessen Minister of Economic Affairs Tarek Al-Wazir and Dr. Rainer Waldschmidt, CEO of Hessen Trade & Invest GmbH (HTAI), took part in an investors’ seminar with the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul, Korea on November 3.

“Regular dialog with our partners abroad is vital. It strengthens our partnership and allows us to develop further all the time,” commented Dr Rainer Waldschmidt on the visit to Korea. Brief presentations gave the seminar participants plenty of insight into Korean and Hessian business activities. Dr. Rainer Waldschmidt, for example, highlighted what makes Hessen stand out as an important business location. The state business promotion organization KOTRA showcased the investment environment in Korea and the factors that determine Korean investment in Germany. Dr. Michael Grund, Managing Director of Merck Ltd. in Korea, explained to the participants which special features need to be taken into account when investing in Korea.

Back in June 2015, KOTRA and HTAI had signed a memorandum in which both parties committed to supporting Korean and German companies in setting up sites in the opposite state. This visit from the Minister gave KOTRA and HTAI another opportunity to discuss specific projects such as joint ventures, collaborations and settlements.

Pictured: Reception at the German Embassy in Seoul as part of the delegation trip; from left: Former President of KOTRA Europe Mr. Chung, HTAI CEO Dr. Rainer Waldschmidt, Former Consul General of Korea in Frankfurt Mr. Kim and Mr. Jansung Choi, Director General of Invest Korea.

Minister of Economic Affairs Tarek Al-Wazir spent a week in Tokyo and Seoul with business representatives and parliamentarians in order to promote Hessen as an ideal bridgehead to the EU. The trip was also designed to strengthen collaboration between the financial center of Frankfurt and the financial centers of Tokyo and Seoul, and to explore business opportunities, not least in the fields of renewable energies and energy efficiency.


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