The Korea International Trade Association held the Korea-Sweden Sustainable Partnership Summit on the 16th at the Grand Hyatt Hotel in Yongsan-gu, Seoul, jointly with Business Sweden.
As a follow-up to a memorandum of understanding (MOU) that KITA signed with Business Sweden on the occasion of the Swedish prime minister's visit to Korea in 2019, it has been holding annual business exchange events to support expanded economic cooperation between the two countries.
Minister Andreas Carlson, who delivered the keynote address, said, "Cross-border innovation and solidarity are essential for sustainable growth," and added, "We hope the two countries will grow together through cooperation with Korean corporations that possess world-class advanced industrial capabilities in semiconductors, batteries, and shipbuilding."
Swedish corporations attending the event introduced core technologies such as offshore wind power, small modular reactors (SMR), and eco-friendly packaging, and presented concrete cooperation models with domestic corporations. The two countries signed three MOUs containing practical measures for a sustainable future, including establishing a joint research hub for carbon-neutral energy technology, developing offshore wind structures, and undertaking high-voltage direct current (HVDC) projects.
Specifically: ▲ A joint research hub for carbon-neutral energy technology development and cooperation in the power semiconductor field among the Research Institutes of Sweden (RISE), Korea Institute of Energy Technology (KENTECH), and Naju City ▲ Joint development of floating offshore wind structures by Hexicon and SK oceanplant ▲ Cooperation on future power grid solutions by Hitachi Energy and HD Hyundai Electric.
Lee In-ho, KITA vice chairman, said, "Held amid the climate crisis and uncertainty in the global trade environment, this event is significant in that it expanded the areas of economic cooperation between the two countries from traditional manufacturing to new industries such as green and bio," and added, "By combining Sweden's leading vision with Korea's dynamic technological prowess, we can contribute effectively to responding to the climate crisis and stabilizing mutual supply chains."
Attending the event were Swedish Crown Princess Victoria, visiting Korea for the first time in 11 years, Prince Daniel, Minister for Foreign Affairs Maria Malmer Stenergard, and Minister Andreas Carlson for infrastructure and housing, along with 14 key Swedish corporations, including AstraZeneca (pharmaceuticals), Hexicon (offshore wind energy), Ericsson (telecommunications), Atlas Copco (industrial equipment), Volvo Trucks (commercial vehicles), and ShannfullNext (SMR).
On the Korean side, about 100 representatives from corporations seeking exchanges with Sweden attended, including officials from KITA, Samsung Electronics, Samsung SDI, SK Telecom, POSCO INTERNATIONAL, Hyosung Heavy Industries, and HD Hyundai Electric.