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S. Korea, Germany discuss trade and economic cooperation

All News 16:48 October 15, 2019

SEOUL, Oct. 15 (Yonhap) -- South Korea and Germany held a joint economic committee meeting Tuesday and discussed ways to enhance bilateral cooperation on trade and investment, Seoul's foreign ministry said Tuesday.

Deputy Foreign Minister Yun Kang-hyeon and his German counterpart, Eckhard Franz, also discussed ways to bolster cooperation in various sectors, such as small and medium-sized enterprises and information and communication technology, during the meeting in Seoul, the ministry said.

The two sides also agreed to promote cooperation in science and technology in the age of the fourth industrial revolution, and come up with a mutually beneficial strategy to resolve South Korea's youth unemployment and the shortage of science and engineering experts in Germany.

Trade volume between the two countries stood at US$30.22 billion in 2018, up from $28.23 billion in 2017.

The joint economic committee was launched in Seoul in 1965 as a body for consultation on bilateral economic issues.


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