Dear Ambassador Schmidt,
Mr. Spreu,
Ladies and Gentlemen
Thank you for organizing this event where we will learn about the Korean economy and the prospects for German-Korean cooperation.
Germany and Korea are two of the largest economies in the world and cooperate successfully in many areas.
Germany is Korea's most important trading partner in Europe.
In 2023, the bilateral trade volume amounted to over 30 billion euros:
- Korea mainly exported computer chips, smartphones and chemicals,
- Germany exported cars and car parts, machinery and agricultural products.
More than 300 Hamburg companies do business with Korea.
The ports of Hamburg and Busan play an important role in this area: They connect the economies of Germany and Korea and serve as gateways to the markets of Europe and East Asia.
Hamburg and Busan are excellent business hubs with extensive networks and expertise in international business relations.
Last year, Mayor Park and I signed a partnership between Hamburg and Busan.
It provides a framework for further cooperation in urban development, business and tourism, climate protection, science, education and culture.
Dear Ladies and Gentlemen,
The ports of Hamburg and Busan are already cooperating in a formal partnership since 2012.
At the Busan International Port Conference this afternoon, the two ports - together with the Port of Ulsan - will expand their cooperation to promote the decarbonization of shipping and to standardize the use and bunkering of green marine fuels, such as green hydrogen and e-methanol.
Hamburg is positioning itself as a leading location for the international hydrogen economy in Europe.
We have concluded more than 10 international hydrogen cooperation agreements. Germany's first terminal for green ammonia will open in the Port of Hamburg in 2026.
Korea is investing heavily in the development of hydrogen technologies and already has the most fuel cell power plants in the world.
Hydrogen offers great potential for our cooperation. Under the umbrella of the German-Korean Energy Partnership, we can shape the future hydrogen economy together.
Dear Ladies and Gentlemen,
On my trip to Busan, I am accompanied by a delegation with members of business and science. Hamburg has strong industries, innovative companies, excellent universities and research institutions.
We are joined by Minister Sütterlin-Waack from our neighboring state of Schleswig-Holstein.
Hamburg and Schleswig-Holstein work together in many areas.
When you combine our specific characteristics as an attractive and global city with strong international ties and as an equally attractive and innovative state with plenty of space, we are the perfect place for foreign investment.
I wish us all an inspiring meeting with many interesting insights and new contacts.
Thank you very much.