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Minister Park Young-sun Serves as a Bridge of Technological Cooperation Between Korea and Germany

Headline Meeting for technological cooperation between Korea and Germany held by the Ministry of SMEs and Startups (MSS) together with the Korea International Trade Association (KITA), INNOBIZ, Korean-German Chamber of Commerce and Industry (KGCCI), and German/Korean companies A special occasion prepared for linking large-sized German companies with startups that possess strategic technologies
“I will serve as a bridge facilitating the technological cooperation between Korean and German companies.”
On the 4th, Minister Park Young-sun of the Ministry of SMEs and Startups (hereafter “MSS”) met with the representatives of Korean and German companies and associations/organizations at the National Assembly Members' Office Building to exchange opinions on technological cooperation between the two countries.
The meeting was attended by National Assemblyman Hwang Hee, KGCCI Korean Chairman Kim Hyo-joon, KITA Chairman Kim Young-ju, and INNOBIZ President Cho Hong-rae, along with Telstar-Hommel and Meekyung Tech for Korean companies and BASF Korea, Bayer Korea, and Bosch Korea for German companies.

At the meeting, Minister Park emphasized that “Germany and Korea could maximize synergy by responding to the Fourth Industrial Revolution through mutual cooperation, as our two countries are the fourth and fifth largest investors of R&D in the world.”
Moreover, she stated that “the MSS would actively support German business delegation’s visit to Korea in early November arranged by the Korean-German Chamber of Commerce and Industry to lay the foundation for cooperation between Korean and German companies.”
Also, she encouraged Korean and German business people to cooperate in order to wisely cope with rising uncertainties in the global economy, including the prolonged U.S.-China trade dispute.
Meanwhile, the MSS has been supporting Korean startups so that they can make innovative achievements through collaboration with large-sized German companies.
On the 1st, the KGCCI (CEO Barbara Zollmann) and the KITA (CEO Kim Young-ju) co-hosted the “Open Innovation Day with German Companies in Korea” through the sponsorship of the MSS.
At the event, the participants from BMW Group Korea and Bayer Korea showed great interest in Korean startups (10 companies) that possess advanced technologies and products related to autonomous driving, AI-based disease prediction and drug development, and digital healthcare.
Some of those startups are planned to discuss specific measures for cooperation with the two German companies in the future.