MUNICH Today, Bavaria's Minister of Economic Affairs, Ilse Aigner is travelling to South Korea, accompanied by a delegation consisting of 30 representatives from the media and IT sectors. “South Korea is pursuing a strategy for the future that is similar to the one we have adopted. Bavaria is a leading location for games and films. Munich already ranks first when compared with all European ICT locations, according to a study carried out by the EU Commission in March 2014. Like us, the Republic of Korea emphasizes a “creative economy” and IT and enhances its start-up culture. I see a great deal of potential for cooperation.”
The Minister of Economic Affairs Aigner will use the trip to conduct political discussions, with the aim of strengthening contacts between both countries. “South Korea boasts a strong position in the same fields, not the least in automobile manufacturing too. Bavaria and South Korea make a great team,” stresses Aigner.
With a volume of 3.6 billion euros, South Korea is the third most important trade partner for Bavaria in Asia, after China and Japan, but is still ahead of India. Almost 1,000 Bavarian companies already maintain business relations with our third most important partner in Asia. “But there is still room for improvement”, explains Aigner.