AHK China: Growth and Business Opportunities in Asia

AHK Greater China, along with the strong AHK network in Asia, provides transnational and holistic support for the local economic interests of German companies and aims to help strengthen the resilience of supply chains of German companies in Asia. In their upcoming event series, their partner AHKs in South Korea and Japan will showcase their locations and provide information on exciting trends, developments, and business opportunities.

Session 1

Wednesday, January 24,

3:30–4:30 p.m. (CST) / 8:30–9:30 a.m. (CET)

South Korea: The Gateway to Innovation

Korea is one of the most innovative countries in the world. It invests an impressive 4.8 % of its GDP in R&D (second highest in the OECD) and has a highly qualified workforce. Korea’s export-oriented economy is expected to grow by 2.2% in 2024. Key industries are electronics (semiconductors), automotive, shipbuilding, chemicals, steel, and machinery. A digital powerhouse with a population of 52 million, Korea boasts cutting-edge technology and thriving middle class with high spending power, especially for luxury goods. German-made high-quality products across various industries from smart factory applications to F&B enjoy an excellent reputation in Korea.

Korea's business ecosystem, fostered by Government-led strategies such as the New Growth Strategy 4.0, Korean New Deal, Hydrogen Roadmap and Smart Korea offers opportunities for international ventures. Korea’s export-oriented economy (FTAs to access all of the world’s major markets) and open mindset to foreign businesses, also presents opportunities for German companies. For German companies, Korea is the second largest export market in Asia. The trade volume between Korea and Germany exceeds 34 billion Euro annually. Currently, German companies in the Korean market are overall optimistic and have raised their investment intentions, mostly targeting sales and marketing and plan to increase their employment prospects in 2024.

Session 2

Thursday, January 25,

3:30–4:30 p.m. (CST) / 8:30–9:30 a.m. (CET)

Japan and Germany: like-minded partners are navigating global economic challenges together

Japan boasts one of the world's largest and most stable economies, supported by a robust industrial base, advanced technology, and a skilled workforce. The nation's stable political environment and legal framework create a secure investment climate for businesses.

Situated strategically in Asia, Japan provides easy access to all Asian markets, allowing businesses to establish efficient supply chains and distribution networks. The advanced infrastructure in Japan further facilitates the management of regional headquarters. Despite being a highly developed nation, Japan maintains a reasonable cost of living compared to other developed countries. This affordability, combined with a high quality of life, makes Japan an attractive destination for professionals and expatriates. As a result, an increasing number of German companies have already moved regional functions to Japan.

Renowned for its advancements in green technology and sustainability, Japan offers opportunities for investment in eco-friendly businesses. Leveraging Japanese expertise in renewable energy, energy-efficient technologies, and environmentally friendly products aligns with global environmental trends and provides access to markets prioritizing sustainable practices.

Guest speaker:

BMW Group

Wilhelm Viessmann

Vice President

Purchasing and QMP Asia-Pacific Region

Purchasing and Supplier Network Asia