Korea-Czech Business Forum Held
President Yoon Suk-yeol is applauding at the Korea-Czech Business Forum held at a hotel in downtown Prague, Czech Republic, on the 20th (local time). From the right: Jan Rafaj, Chairman of the Czech Industry Federation; Petr Pavel, President of the Czech Republic; President Yoon; Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry; Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance; Ahn Deok-geun, Minister of Trade, Industry and Energy. 2024.9.20. [Image source=Yonhap News]
President Yoon Suk-yeol, during his visit to the Czech Republic, attended a business forum where economic organizations and business leaders from both countries agreed to cooperate in advanced industries and infrastructure sectors such as future vehicles, batteries, and nuclear power generation.
According to the Ministry of Trade, Industry and Energy, on the 20th (local time) in Prague, Czech Republic, the Korea Chamber of Commerce and Industry, the Czech Chamber of Commerce, and the Czech Industry Confederation jointly hosted the 'Korea-Czech Business Forum.' The event was attended by approximately 470 participants, including President Yoon Suk-yeol, Czech President Petr Pavel, economic organizations from both countries, large corporations, mid-sized and small businesses, public institutions, and associations.
At the business forum, both countries discussed cooperation plans in advanced industries and infrastructure sectors. In particular, the future vehicle, battery, and robotics sectors in advanced industries, and high-speed rail and Ukraine reconstruction in infrastructure were expected to have high cooperation potential. A total of 14 memorandums of understanding (MOUs) were signed between companies, organizations, and institutions from both countries in areas such as corporate support, advanced industries (batteries, future vehicles, etc.), energy (hydrogen), nuclear power, and infrastructure (high-speed rail, Ukraine reconstruction).
In the advanced industry sector, the Korea Institute for Industrial Technology Evaluation and Planning, Electronics and Telecommunications Research Institute, Korea Automotive Technology Institute, Hyundai Motor Company, and POSCO Holdings signed MOUs with the Czech Battery Cluster, Brno University of Technology, and Ostrava University of Technology. In the hydrogen sector, Hyundai Motor Company agreed to cooperate with Czech ?koda Electric. In the nuclear power sector, Ilsin IDI, BHI, and Advanc Construction agreed to collaborate with local companies. In the infrastructure sector, Hyundai Rotem signed an MOU with ?koda Transportation to cooperate on the Czech high-speed rail and electric locomotive projects.
The Ministry of Trade, Industry and Energy stated that during President Yoon’s visit, an additional 20 MOUs related to nuclear power and advanced industries are expected to be signed through related events.
The ministry said, "Through this forum, business leaders from both countries formed a consensus to promote comprehensive and full-scale economic cooperation across industries beyond nuclear power," and added, "The government plans to continuously discuss ways to expand cooperation with the Czech side and support corporate activities so that the MOUs signed this time can lead to concrete business projects."
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