KITA News and Reports
  • To Seek Cooperation Expansion in Startup and Energy with France
    2018-10-23

    To Seek Cooperation Expansion in Startup and Energy with France

     

    - KITA held ‘Korea-France Business Leaders Summit’ … 200 business people discussed cooperation measures -

     

     

    The Korea International Trade Association (Chairman, Kim Young-joo) held ‘Korea-France Business Leaders Summit’ in Paris, France in cooperation with MEDEF, the employer federation in France on October 16 (local time).

     

     

    Some 200 government officials, including President Moon Jae-in, and business people from the two countries attended the event held under the theme of 'From the Gwanghwamun to the Arc de Triomphe, Global Companion in the New Economy Era’. The participants examined the results of the Korea-EU Free Trade Agreement (FTA) and discussed new cooperation measures such as startup and new industry cooperation and sharing innovation cases.

     

     

    President Moon Jae-in said in his keynote speech, "Despite the uncertainties of the global economy, the trade volume between the two countries in the first half of this year recorded the highest number since 2011." He emphasized the new industry areas, particularly start-up cooperation which is a key policy issue for the two governments, for the expansion of future growth engines.

     

     

    Chairman Kim Young-joo of the Korea International Trade Association said in his welcoming speech, "South Korea was able to achieve industrial advancement and development by introducing nuclear power plants in the 1980s, high-speed railway in the 1990s, and aerospace technology in the 2000s from France.” He added, "In the era of new economy where manufacturing and service convergence and online and offline coexist, it is very important that cooperation between Korea with excellent manufacturing capabilities and France with strong original technologies."

     

     

    On behalf of the French government, the Minister Bruno Le Maire of the Economy and Finance said, “"Cooperation between the two countries is expanding from traditional industries to future high-tech industries," and suggested "Let France, the seventh largest economy in the world, and Korea in the twelfth place cooperate, cooperate as strategic cooperation partners to realize higher values such as sustainable development, social responsibility and environmental protection.”

    At the event, corporate cooperation cases in various fields were introduced. Synergy and innovation creation performances using mutual strengths such as hydrogen energy of Hyundai-Air Liquide, vaccine of SK Bioscience-Sanofi Pasteur, and Naver-Korelya Capital’s startup nurturing attracted participants’ attention.

     

     

    In the ‘Business Awards’ to encourage the companies in the two countries, Dassault Systemes, a French company that supports youth employment in Korea through industry-academia cooperation, won the award. Among the Korean companies, Naver, which leads cooperation in Artificial Intelligence (AI) and autonomous driving areas through investment in European startups, was selected.

     

     

    After the summit, the total number of five Memorandum of Understanding (MOU), including ‘To Promote Establishment of KITA-MEDEF International Korea-France Business Committee’ and ‘To Boost Hyundai Motor- Air Liquide-Engie Hydrogen-powered Vehicles’ were signed.

     

     

    From Korea, the government officials, including the Minister Sung Yun-mo of Trade, Industry and Energy, the Minister Kang Kyung-hwa of Foreign Affairs, and the Minister Yoo Young-min of Science and ICT and 85 companies and organizations such as Samsung Electronics, Hyundai Motor, LG Electronics, Hanhwa System, Naver, Hyundai Group, Fashion Group Hyungi, Ambassador Hotel Group, Dongsung Finetec, Korea International Trade Association, the Ministry of SMEs and Startups.

     

     

    From France, Bruno Le Maire, the Minister of the Economy and Finance, Frederic Sanchez, Chairman of MEDEF International, Stephane Israel, the Chair of Korea-France High Level Businessmen’s Club, Fabien Penone, French Ambassador to Republic of Korea, Fleur Pellerin, the head partner of Korelya Capital (venture capital), Benoit Potier, CEO of Air Liquide (Energy), Philippe Berterottiere, the Chairman of the board & CEO of GTT (Manufacture of LNG cargo tanks), Christophe Gurtner, Chairman and CEO of Forsee Power (smart battery manufacturer), and Patrick Defranoux, CEO of Thales Korea as well as the high ranking officials from Airbus (Airline), Engie (energy), CMA CGM (Shipping), Louis Vuitton Moet Hennessy (fashion), Naval Group (defense), Safran (defense), Renault (automobile), L'Oreal (cosmetics), Suez (water resources), and SYSTRA (railway) participated the event.

     

     

    Meanwhile, the Korea International Trade Association held a breakfast meeting with the Minister Sung Yun-mo of Trade, Industry and Energy and the Korean companies that have entered into the French market and provided a communication opportunity for the supports for Korean companies’ overseas activities. The participating companies explained major issues such as Brexit and EU Privacy Protection Act, and the Minister Sung Yun-mo said, "Business conditions are improving thanks to the business friendly environment of the Macron’s government.” He also requested “Korean companies to actively participate in economic cooperation between the two countries by taking this opportunity.”

     

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