"South Korea is the 4th Largest Investor in Czech Republic... Cooperation Should Expand to Future Sectors like Hydrogen"

Martial Arts and Czech National Assembly Speaker's Visit
'Korea-Czech Business Cooperation Forum' Held

The Korea International Trade Association (KITA) jointly held the "Korea-Czech Business Cooperation Forum" with the Embassy of the Czech Republic in Korea on the 23rd, pledging to expand private sector cooperation. This forum was organized to coincide with the visit of Marketa Pekarova Adamova, Speaker of the Czech Chamber of Deputies, and a delegation of Czech companies. A total of 150 officials and businesspeople attended, including Gustav Slamecka, Czech Ambassador to Korea, and Jaroslav Hanak, Chairman of the Czech Confederation of Industry.

In his welcoming remarks, Jung Manki, Vice Chairman of KITA, emphasized, "The Czech Republic, with its excellent manufacturing infrastructure and human resources, serves as a key bridgehead for Korea's entry into the European market." He added, "In particular, Korea is one of the Czech Republic's top four investors, contributing to the Czech economy through expanded local production and job creation centered on automobiles and tires."

Vice Chairman Jung stated, "Now, as the need for green transition and electrification to achieve carbon neutrality grows, cooperation between the two countries must expand into future new industries such as electric vehicles, hydrogen industry, batteries, and ICT." He added, "Korea will be one of the Czech Republic's best partners in these future new industry sectors."

During a meeting with the Speaker of the Czech Chamber of Deputies held prior to the forum, Vice Chairman Jung noted, "Korean companies operating in the Czech Republic are facing difficulties such as rising energy costs, challenges in securing manpower, reduction of incentives for manufacturing companies, and a shortage of electric vehicle charging stations." He urged, "If these difficulties are continuously addressed through the attention and support of the Czech Parliament and government, more Korean companies will positively consider entering the Czech market."

Meanwhile, at the forum, KITA and the Czech Confederation of Industry also signed a Memorandum of Understanding (MOU). Through this agreement, the two organizations agreed to expand private cooperation by exchanging information in trade and investment fields and promoting exchanges of economic delegations.