Čadež in Seoul: Korea Opens New Opportunities for Trade, Investment and Technological Cooperation

Serbia and Korea have significant potential to enhance cooperation in supply chains, industry and manufacturing, transport and logistics, clean energy, artificial intelligence, biotechnology, and healthcare, it was emphasized during meetings held in Seoul between Marko Čadež, President of the Chamber of Commerce and Industry of Serbia (CCIS), and representatives of Korean business institutions and companies.

The visit took place following the successful conclusion of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between Serbia and the Republic of Korea, which marks the beginning of a new phase in the economic relations between the two countries. Korea also confirmed its participation in EXPO 2027 Belgrade, while closer cooperation between Serbian and Korean companies over the coming year was agreed upon.

During his stay in Seoul, Čadež visited the Korea Import Fair, where eleven Serbian companies from the food industry, alcoholic beverages sector, pet food industry, and household goods and equipment manufacturing are presenting their products this year. The Serbian participation is organized by the CCIS in cooperation with the Korea Importers Association (KOIMA) and the Embassy of the Republic of Serbia in Seoul.

At a meeting with representatives of the Korean Ministry of Trade, Serbia’s business environment was presented and assessed as still insufficiently known among Korean companies.

Marko Čadež and KOIMA Chairwoman Yoon Young discussed opportunities for integrating Serbian producers into the distribution networks of major Korean conglomerates. Young noted that the Korean market offers considerable potential for imports of Serbian dried and frozen fruit, alcoholic beverages, and other food products.

During discussions with representatives of the Korea Trade-Investment Promotion Agency (KOTRA), it was highlighted that the Korean market is becoming increasingly open to Serbian products, as well as to cooperation in technology transfer and joint investment projects. A visit by a Korean business delegation to Serbia by the end of the year was agreed, with the aim of establishing direct contacts between companies and gaining a better understanding of business opportunities in both markets.

A meeting was also held with potential Korean investors from the chemical industry, who view Serbia as a regional economic leader and one of Europe’s fastest-growing economies. Representatives of Korean companies expressed interest in establishing joint ventures with Serbian partners.

The Chamber of Commerce and Industry of Serbia will continue to provide institutional support to domestic companies interested in entering the Korean market. In addition to participation in the Korea Import Fair, plans are underway to organize a Serbian national presence at Seoul Food, Asia’s largest specialized food industry exhibition, which will provide an additional opportunity to promote Serbian products and strengthen business ties with Korean partners.

Photo: Jovana Majstorović