First Anniversary
On March 20, 2015, Gumi City became the first local government in Korea to establish a trade cooperation office in Germany’s Wolfsburg AG (WAG). In the past year, it has been carrying out support projects for companies located in the jurisdiction and establishing the mutual cooperation basis based on the two cities’ industries.
With its corporate support programs to seek buyers and promote companies in Europe, cooperate in technology with German companies and market products in the area, the office has met 25 out of 33 requests for trade cooperation up to now.
This year, it is planning to consecutively participate in the International Suppliers Fair (IZB) 2016 to be held in Germany after the IZB 2014. The office will select about eight outstanding automotive component producers in the jurisdiction and open a joint booth with Gumi City in the trade show.
In particular, the trade cooperation office in Germany hosted “Gumi City’s investor relations (IR) meeting” at WAG CLUBRAUM on Apr. 10 for the first time this year, attracting attention. The meeting was participated in by 30 people including WAG President Oliver Syring, businesses located in WAG and local businessmen.
The office plans to actively promote Gumi City and attract investment from German firms, and hold a total of four IR meetings this year.
In addition, it will activate cultural, athletic and personnel exchanges and serve as a sister city connecting with Wolfsburg City in the future in a bid to strengthen international exchanges between the two cities.
An official from Gumi City said, “Based on the trade cooperation office in Germany, we will effectively target the European market and continuously help small and medium-sized enterprises (SMEs) to successfully enter the market. Also, we will make every effort to create more SMEs with the competitiveness by establishing numerous overseas bases regardless of the prolonged global economic recession