Where Is the Korean Economy Headed This Year?... Busan City and KGCCI Host Economic Outlook Event

Advancing Bilateral Business Relations
Discussing the Economic Outlook for Korea's Major Industries

Business leaders from Busan and Germany will hold an event to review the economic outlook for 2025.

The Busan Metropolitan Government (Mayor Park Hyungjun) announced that it will host the Economic Outlook 2025 event at 5 p.m. on the 15th at Paradise Hotel Busan.

This economic outlook event is co-hosted by the Busan Metropolitan Government and the Korean-German Chamber of Commerce and Industry (KGCCI), and is designed to strengthen business relations between Busan and German companies as well as to discuss the economic outlook for Korea's major industries.

Now in its third year as a joint event, it serves not only as a platform for economic cooperation between the two countries but also for cultural exchange and social contribution.

The KGCCI is the second largest overseas chamber of commerce in Korea, with approximately 500 member companies. As an institution representing the German economy and industry, it serves as a key channel for communication between Korean and German businesses.

The chamber provides companies with professional services such as market research, business partner search, support for trade fair participation, investment attraction, and industrial tour programs. It also contributes to Korean society through various activities, including government-led bilateral cooperation projects and mentoring programs to foster talent and strengthen women's leadership.

Since joining the KGCCI in 2009, the Busan Metropolitan Government has maintained a cooperative relationship for attracting investment from German companies through ongoing networking and co-hosting of events.

This event will be attended by the German Ambassador to Korea, the head of the KGCCI, and about 60 representatives from member companies. The program will include an introduction to Busan's investment environment, a political outlook presentation, a presentation on trends in Korea's major industries, a global economic outlook, a panel discussion, and networking.

The first part of the economic outlook event will begin with an introduction to the city's investment environment by the Investment Promotion Division, followed by a 'Political Outlook' presentation by German Ambassador to Korea Georg Schmidt, a 'Trends in Korea's Major Industries' presentation by Katarina Viklenko, Korea Representative of Germany Trade & Invest, a 'Global Economic Outlook' presentation by Charlie Lay, Senior Economist at Commerzbank (the second largest bank in Germany), and a panel discussion.

The panel discussion, moderated by Felix Kalkowski, Deputy Representative of the KGCCI, will feature four distinguished speakers from German institutions and companies, including Katarina Viklenko, Korea Representative of Germany Trade & Invest. They will share deep insights and extensive experience regarding the investment environment in Korea.

Based on their expertise accumulated in their respective industries, the speakers will engage in in-depth discussions on the potential and challenges of the Korean market and seek practical ways to strengthen economic ties between the two countries.

The second part of the event will feature networking activities, including a donation ceremony for Soyang Orphanage, an orchestra performance, and a dinner. Over 100 people, including German Ambassador to Korea Georg Schmidt and representatives from German companies in Korea, are expected to attend and add prestige to the event.

Lee Joonseung, Deputy Mayor for Administrative Affairs of Busan, stated, "Busan will do its utmost to support German companies so they can settle here stably. Germany has traditionally been an important partner for Korea, and Busan has been a reliable partner closely cooperating with German companies. I hope we can work together and communicate to create a prosperous future together."

Busan City Hall.