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| Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, front row third from left, claps with Portuguese Prime Minister Antonio Costa, front row fourth from left, Minister of Trade, Industry and Energy Lee Chang-yang, front row second from left, and other Korean and Portuguese business and government officials during the Korea-Portugal Business Forum held at Four Seasons Hotel in Seoul, Wednesday. Courtesy of KCCI |
By Kim Hyun-bin
Key political and business figures from Korea and Portugal agreed to cooperate in future core industries such as renewable energy, electric vehicles (EVs), and semiconductors.
The Korea Chamber of Commerce and Industry (KCCI) jointly held the Korea-Portugal Business Forum with the Portuguese Embassy in Korea and AICEP Portugal Global at the Four Seasons Hotel in, Seoul, Wednesday.
The forum was co-hosted by the KCCI, the Portuguese Embassy in Korea, and the Portuguese Trade and Investment Agency in celebration of the visit of Portuguese Prime Minister Antonio Costa to Korea.
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"Trade between the two countries has increased by about 50 percent compared to the pre-COVID-19 period, and investment between the two countries is also expanding into various fields such as automobile parts and renewable energy. We look forward to expanding cooperation in the renewable energy sector with Portugal, a leading country in the eco-friendly industry," Minister of Trade, Industry and Energy Lee Chang-yang said.
The forum was attended by Portuguese political and business figures, including Prime Minister Costa and Minister of Infrastructure Joao Galamba. Representatives from the Korean side included KCCI Chairman Chey Tae-won, and Minister Lee.
"Portugal is a leading country in the field of green energy. Renewable energy accounts for 60 percent of Portugal's total electricity consumption," KCCI Chairman Chey said. "Korea also wants to become the Portugal of Asia. In the field of batteries and EVs, we can cooperate with Portugal, which has abundant lithium reserves."
Chairman Chey also asked the Portuguese prime minister to support Korea's World Expo bid.
"Korea is working hard to attract the World Expo 2030 in Busan. We are planning a long-term initiative to solve the challenges common to humanity, rather than simply a six-month event," Chey added.
Meanwhile, the KCCI established the Korea-Portugal Private Economic Cooperation Committee through the forum headed by SK Eco Plant CEO Park Kyung-il, as the Korean chairperson.
During Portuguese Prime Minister Antonio Costa's stay in Korea, he met with heads of major Korean conglomerates to discuss mutual cooperation. He discussed business cooperation with Samsung Electronics Vice Chairman Han Jong-hee, head of DX Division, Hanwha Solution Vice Chairman Kim Dong-kwan, and SK hynix Vice Chairman Park Jung-ho.
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