Korean-German Chamber of Commerce holds second-half economic outlook event
Merz's planned October visit seen as opportunity to deepen bilateral ties
![From left: Matthias Buse, president of Porsche Korea; Katarina Wiklenko, Korea representative of Germany Trade and Invest (GTAI); Steffen Trabert, vice chairman of KGCCI and head of Koerber Korea; Juliana Lee, chief Asia economist at Deutsche Bank; Ha-joong Chung, CEO of Siemens Korea; Georg Schmidt, German Ambassador to Korea; Park Hyun-nam, chairman of KGCCI; Yangju Mayor Jeong Deok-yeong; Seo Jeong-wook, CEO of TÜV SÜD Korea; Ryu Geun-min, CEO of Trump Korea; Lee Hee-hwan, head of Airbus Korea; Choi Gye-jeong, director of the Yangju City Economy, Culture and Sports Bureau; and Marie Antonia von Schönburg, managing director of KGCCI, pose for a photo at the 2026 Second-Half Economic Outlook event. [Provided by KGCCI]](https://wimg.heraldcorp.com/news/cms/2026/08/28/news-p.v1.20260828.eef8c90c58c34ddfa7e2a191b1c812cf_P1.png)
The Korean-German Chamber of Commerce and Industry (KGCCI) held its "2026 Second-Half Economic Outlook" forum at the Conrad Seoul hotel on Thursday, jointly organized with the city of Yangju. About 90 representatives from Korean and German companies and institutions, along with industry experts, attended to discuss bilateral business relations and the economic outlook for key industries.
The event produced calls for Germany and Korea to significantly deepen economic cooperation, with AI, semiconductors and advanced manufacturing identified as the core areas for future collaboration.
Participants also expressed hope that German Chancellor Friedrich Merz's planned visit to Korea in October would serve as a catalyst for expanding bilateral economic ties.
Park Hyun-nam, KGCCI chairman and Korea head of Deutsche Bank, said the Korean economy's upward momentum was opening concrete opportunities to deepen cooperation with Germany in advanced manufacturing, AI, semiconductors and energy.
German Ambassador to Korea Georg Schmidt, speaking on Korean-German political prospects, said like-minded middle powers such as Germany and Korea must work more closely together amid shifting geopolitical conditions. He added that Chancellor Merz's visit to Korea — timed to coincide with the 19th Asia-Pacific Conference of German Business (APK 2026) in late October — would be a valuable opportunity for cooperation.
Korea was widely seen at the forum as a prime beneficiary of the global surge in AI investment, with advanced industries including AI and semiconductors highlighted as key areas for bilateral collaboration.
Katarina Wiklenko, Korea representative of Germany Trade and Invest, said Korea was expected to record its strongest economic growth in recent years on the back of the global AI boom, projecting the country's GDP growth rate this year at between 2.6 and 3 percent or higher.
She said announcements of three major projects — covering advanced semiconductors, AI data centers and physical AI — were attracting unprecedented investment and reinforcing Korea's standing as a leading technology hub. However, she cautioned that sustaining this momentum would require broad-based innovation across the economy and continued diversification to reduce vulnerability to future shifts in the global technology cycle.
Juliana Lee, Deutsche Bank's chief Asia economist, said Asia's resilience had long been underestimated but that the region had continued to adapt and grow even amid heightened uncertainty. She said Korea was well-positioned to benefit from the AI era but would need to respond effectively to both the opportunities and risks that rapid technological change brings in order to maintain its competitive edge.
The event closed with an open panel discussion moderated by KGCCI Managing Director Marie Antonia von Schönburg. Lee Hee-hwan of Airbus Korea, Ryu Geun-min of Trump Korea and Juliana Lee of Deutsche Bank took part, discussing industry-specific outlooks and avenues for Korean-German economic cooperation.
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