October 2022

South Korean tech companies betting on Germany´s Saarland

Since October 27, 23 Korean companies listed on the KOSDAQ (Korean Technology Index) have been visiting Saarland. The Saarland Economic Promotion Corporation (gwSaar) and KOSDAQ have been maintaining longstanding intensive relationships. During the visit, these relations have now been sealed and expanded by a memorandum of understanding. Signatories were Thomas Schuck, Managing Director of gwSaar, and the President of the KOSDAQ Listed Companies Association, Kyeong-Ho Chang. State-owned gwSaar thus becomes the first point of contact for KOSDAQ companies with plans to expand to Germany.

All 23 companies are high-class representatives of the Korean economy, among them producers of chip production equipment, cloud services, IT security and robotics as well as biotech companies. The delegation´s program in  Germany’s Saarland  will help strengthen the network with Saarland´s research and industry – among them the DFKI German Research Center for Artificial Intelligence, which is renowned throughout Europe, the INM Institute for New Materials, the company Innocise, which has developed a new gripping technology for robots based on the gecko foot, or Elexier, a company wanting to write automotive history with its module platform technology.

The central point of contact for all Korean companies is KIST Europe, which is located on the Saarbrücken university campus. The Korean Institute for Science and Technology is one of the most renowned research institutes in Korea. Its Saarland branch also serves as a bridgehead for Korean companies and researchers moving to Germany.


Saarland and South Korea
The exchange between the Saarland and South Korean industry is a well-established tradition. During various trips of delegations to Seoul and Saarbrücken in the past few years, contacts and relationships were made from which both countries benefit today. KIST Europe on the Saarbrücken university campus is the only non-profit research institution outside of South Korea.