Europe trade and investment strategy conference held in Warsaw

KOTRA president and 24 trade center chiefs attend

KOTRA's headquarters building. [KOTRA]
KOTRA's headquarters building. [KOTRA]

KOTRA held a "Europe Trade and Investment Expansion Strategy Conference" in Warsaw, Poland, on Friday local time, chaired by President Kang Kyung-sung and attended by the heads of 24 trade centers across Europe, the agency announced Sunday.

The conference was convened as Europe has emerged not only as a major export market but as a strategic hub for new growth industries — including consumer goods, defense, healthcare, nuclear power and power equipment — and a focal point for advanced industry cooperation.

Participants discussed five areas: expanding K-consumer goods exports, identifying manufacturing innovation cooperation opportunities, supporting entry into high-growth sectors such as power equipment, defense and pharmaceuticals, targeting niche markets by region, and activating investment attraction centered on the "5 poles, 3 specials" framework.

South Korean exports to Europe surpassed $80 billion for the first time last year and have continued to grow at a double-digit pace this year. KOTRA views Europe as a key market to complement the country's export structure, which has been heavily centered on the United States and China, as uncertainty in the global trade environment grows.

The growth of K-consumer goods has been particularly strong. Europe rose to become South Korea's third-largest market for core consumer goods exports last year and has ranked first for three consecutive months this year. Poland has topped the list for growth in South Korean cosmetics exports for two consecutive years, and cosmetics exports to France exceeded $100 million for the first time last year.

KOTRA plans to designate lead and partner trade centers in Europe by product category to jointly organize trade consultations and showcases, and to strengthen K-food and K-beauty marketing tied to K-content. "K-Beauty Export Boom Weeks" will be held in Madrid, London and other cities to expand direct contact with local consumers and buyers.

Europe is also growing in importance for pharmaceuticals. Among South Korea's top pharmaceutical export destinations last year, the second through fourth spots — excluding the United States — were all European countries: Switzerland, Hungary and the Netherlands. Exports to Switzerland have grown more than tenfold compared with 2019. KOTRA plans to support Korean companies' entry into the European market through major biotech and pharmaceutical trade shows, including Swiss Biotech Day and CPHI Milan.

Power equipment and energy are also identified as promising sectors. Demand is rising across Europe for AI data center expansion, aging power grid replacement and renewable energy infrastructure buildout. KOTRA said it will actively support Korean companies in entering European power market supply chains and participating in grid modernization projects.

In defense, K-defense exports are expanding beyond Poland to Finland, Estonia and other countries. KOTRA plans to support Korean companies' entry into the drone, IT-convergence product, and components and equipment segments, leveraging their delivery timelines, price competitiveness and technological capabilities.

In addition, as European companies pursue economic security and supply chain diversification, demand for cooperation with Korean firms is growing in future mobility, batteries, robotics and AI — areas where KOTRA will also work to deepen supply chain partnerships.

KOTRA will identify key materials and components that European manufacturers need and help Korean companies enter those supply chains, while also expanding joint R&D and product sourcing cooperation. In September, the agency will host a "GP Europe Future Mobility Consultation" targeting European automakers.

On the investment attraction front, KOTRA is focused on combining European technological expertise with South Korea's manufacturing capabilities. Linked to the recent South Korea-EU summit in Brussels, four European companies in the semiconductor and display sectors filed investment declarations totaling $165 million (about 247.5 billion won).

"Europe's strategic importance as a forward base for export growth industries is growing," KOTRA President Kang said. "We will actively support our companies in generating tangible results not only in K-consumer goods, pharmaceuticals, power equipment and defense exports, but also in advanced industry cooperation."


eyre@heraldcorp.com