The Korean-German Chamber of Commerce and Industry (KGCCI) was founded in 1981 in Seoul. The President is Mr. Dieter Brinkmann, President of MAN Turbo Ltd., Korea, and Secretary General is Mr. Wolfgang Niedermark. The Chamber acts as a German business club, an official representation of German businesses and a provider of professional services offered as DEinternational. With about 300 member companies from German and Korea the Korean-German Chamber is among the biggest foreign chambers in Korea. Economic relations between Germany and Korea are developing very positively. In 2005 Germany was Korea's fourth largest trading partner with a trade volume of US$ 20.07 billion, consisting of US$10.3 billion in exports to Germany and US$9.77 billion in imports to Korea. German direct investments in Korea have increased almost by 45% year-on-year and reached US$705 million in 2005. |
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