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KGCCI Event: Outcome of the Presidential Election

The 20th presidential elections were held in South Korea on 9 March 2022. The outcome of the Presidential election will have a significant impact on the business environment in Korea and the position of Korea in international trade. KGCCI hosted the event to look at the consequences of the presidential election and Dr. Bernhard Seliger participated in this event at the panel discussion.

The event ‘Outcome of the Presidential Election’ was organized by the Korean-German Chamber of Commerce and Industry (KGCCI) and supported by its partners German Ambassy, Korea Chamber of Commerce and Industry(KCCI), Friedrich Naumann Foundation for Freedom Korea Office (FNS), Fredrich Ebert Stiftung Korea Office (FES), Hanns Seidel foundation Seoul Office (HSS), and Konrad-Adenauer-Stiftung Korea Office (KAS).  This event started with the opening remarks by Mr.Yan Uhl, treasurer of KGCCI and Regional Commercial Finance Director of SAP Korea and greetings by German Ambassador Michael Reiffenstuel.

 

As a keynote speech, Mr. Tae Hee Woo, the Executive Vice Chairperson of KCCI shared the ‘Personal Analysis and Comments on 20th Presidential Election in South Korea.’ He analyzed the unique phenomenon of the 20th election. First of all, there was a clear distinction or gap between generations, genders, and regions. Furthermore, it was very positive that people in their twenties exercised the right to vote which took a big role in results. As Mr. Yoon was elected as the next president, it is encouraging that there will be a huge change in foreign policy with an active relationship building with US and Japan and more pro-business policies. Yet, there will be political, economic, and international challenges that Mr. Yoon’s government should go through.

 

At the panel discussion followed by an open forum, representatives of each partner foundation shared their opinion on the outcome of the presidential election. Dr.Bernhard Seliger, the representative of the HSS Seoul Office participated in this event and frankly gave his opinion. The representatives of each partner foundation, especially as the political foundations, looked back on the presidential race, compared this with other election campaigns before in Korea and in other countries, and analyzed some international and internal challenges for the next presidency.

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