European business groups in South Korea held a joint forum in Seoul with Prime Minister Han Seong-sook, focusing on investment conditions and regulatory barriers for European companies.

The Korean-German Chamber of Commerce and Industry (KGCCI) and the French-Korean Chamber of Commerce and Industry organised the event (FKCCI).

Around 200 executives from German, French and other European firms took part, alongside government, diplomatic and economic representatives.

According to the translated version of the FKCCI’s statement, the forum was intended to create more direct discussions between Korean authorities and European industry.

Addressing attendees, Han said: “Germany, France and other EU countries have long been steadfast partners of Korea, supporting one another's economic and industrial development on the basis of mutual trust.”

She continued: “Korea, Germany and France are trusted partners that support free trade and a rules-based international order and share the values of openness and innovation,” adding that the government “will do its utmost to ensure that the investments and ambitions of German and French companies lead to even greater success in Korea.”

FKCCI chairman David-Pierre Jalicon noted that the forum coincided with the 140th anniversary of France-Korea diplomatic relations and the FKCCI's own 40th anniversary.

He announced that the chamber will hold a France-Korea symposium at the French National Assembly in Paris on 16 October, intended to strengthen cooperation in innovation and technology.

He also described plans for a Maison France facility, offering office space, an expanded business centre, and several other facilities.

KGCCI chairperson Hyun-Nam Park said German firms were “ready to play their part in Korea's next chapter of growth,” and noted that the German chancellor is due to visit Seoul next month for the 19th Asia-Pacific Conference of German Business (APK).

Earlier this week, South Korea selected a gas-fired power station in Encinal, Texas, as the first project under its wider $350bn US investment pledge, with the project valued at $22.3bn.