Prime Minister Han Duck-soo and members of the European business community in Korea pose for a photo during a special reception co-organized by the French-Korean Chamber of Commerce and Industry and the Korean-German Chamber of Commerce and Industry on June 23. Courtesy of the FKCCI

On this Bastille Day 2022, which celebrates the French National Day, the French-Korean Chamber of Commerce and Industry (FKCCI) would like to extend warm greetings to all French and Korean business people in Korea, to wish them a year of great opportunities, growth and prosperity.

Recently, Korea has elected a new president in the person of Yoon Suk-yeol and France has renewed the mandate of French President Emmanuel Macron to pave the way for a new start and strengthen the relationship between the two countries. France and Korea share many things in common. Our populations are almost the same size. We share both a long history, a strong culture and identity. We are countries of innovation. We believe in multilateralism. We have a similar political system, and are both true democracies.

Korea is now enjoying a new status as a technological powerhouse and a global trade hub that enhances attractiveness of the country and brings more opportunities for business links between France and Korea.

Under this new context, the FKCCI has been very active to enhance the relations between French and Korean companies and foster business partnerships in many sectors.

With over 500 business support services provided to French and Korean companies, and more than 60 events organized every year, the FKCCI is striving to provide the most adapted services to companies bridging our two countries. As a result, in 10 years the global trade balance between France and Korea has increased by 150 percent and the number of our members more than doubled from 200 to 450. Thanks to Korea's dynamism, the FKCCI was awarded the Trophy for Best Performance among 125 French chambers internationally last June in Paris to recognize its achievements in the last two years.

Indeed, one of the key messages the chamber is passing to French institutions and business companies is that heading to Korea allows expansion of business activities to Asia. As the first major market in Asia to reopen after two years of pandemic, Korea is a dynamic and innovative country, with infrastructures and distribution channels that are extremely performant. A true laboratory of trends, the peninsula also benefits from early adopters and sophisticated consumers, always on the lookout for the latest novelties. An ideal environment for companies to test their offer.

With 36 years of expertise, the FKCCI supports companies of all sizes and all sectors through market research, prospecting, and development support services. It expanded its business center in the heart of Gangnam business district, incubating now more than 35 companies. With the goal of supporting companies willing to establish in Korea, it also created as new range of corporate services. The FKCCI tackles issues as diverse as setting up a business structure, business development, strategic planning, consulting, assistance for administrative and regulatory formalities (insurance, licenses, etc.), obtaining visas, quarantine exemptions and marketing strategy, both for French and Korean companies.

FKCCI Chairman David-Pierre Jalicon, left, Aryballe EVP Asia Business Development Thierry Chavigner and French Ambassador to Korea Philippe Lefort pose for a photo after the French company, known for its odor-detecting technology, won the Best Startup Award at the FKCCI's general assembly and French Business Awards Ceremony in Seoul, April 13. Courtesy of FKCCI

Striving to open as many doors as possible for its members, the FKCCI also continued to provide interface with Korean authorities, especially since new policy directions are taken by the Yoon's government. Prime Minister Han Duck-soo addressed the European business community for the first time since his nomination at a special reception co-organized by the FKCCI and Korean-German Chamber of Commerce and Industry (KGCCI) on June 23. More than 150 representatives of French and German companies joined this unique forum to discuss the opportunities and challenges of doing business in Korea.

More recently, Minister of Foreign Affairs Park Jin also met with the French, German and European business communities on July 12 to exchange on the reinforcement of strategic relations with Europe.

Since 2011 and the FTA between EU and Korea, we have seen the arrival of the next generation of French investors, more SMEs and entrepreneurs, and new forms of partnerships in multiple areas. Today, France is not only a strong player in the field of luxury or agribusiness but is also an important actor of the supply chains for the electronic and chemical industries, and a key partner for the aeronautics, defense, energy and health sectors.

As a matter of fact, during their summit in Spain, French President Macron and South Korean President Yoon announced their wishes of stronger cooperation in the field of nuclear industry and aerospace.

Currently, 5,000 French companies have business ties in Korea, and 350 French companies are established here, representing 4 billion euros FDI in stock, and probably most importantly, employing more than 26,000 people. Thanks to this background, we believe that we are part of the Korean business family and the Korean economy.

As domestic economies and international trade have been recovering in the aftermath of the pandemic, there is a huge potential for Korean and French companies to explore market opportunities in both countries and supplement each other.

Fueled by this momentum, the FKCCI is proud and happy to bring together the French and Korean communities, as well as many European partners, for a wonderful and festive Bastille Day reception today at Floating Island.


Please visit us anytime at www.fkcci.com and contact us at welcome@fkcci.com.

This article is provided by the French-Korean Chamber of Commerce and Industry.