By Ljubica Gojgić
INVESTMENTS
Noting that Serbia has rich resources in terms of IT experts, some Korean IT companies are considering opening their R&D centres here
Your Excellency, given that you arrived in Serbia just four months ago, could you tell us about your first impressions of the country and how you’re acclimatising to life in Belgrade?
My first impression of Serbia is that it is a beautiful country. The harmony of Western and Eastern cultures, architecture of classical and modern styles, and both sad and happy legacies with a deep historical background, provide a perfect reason for admiration. The scenery of mountains and rivers allow me no other expressions. However, the true beauty of Serbia lies in its people. Serbs are kind and hospitable, especially to foreigners like me. They are smart, diligent and also emotional. They like music and dancing, and enjoy eating and drinking. In a way, I believe, Serbian people share many similar characteristics with Koreans, despite the two countries being thousands of miles apart. Thanks to kind Serbian people and their help and hospitability bestowed upon me from the time of my arrival late last year, I haven’t had any difficulties getting settled in Belgrade. The weather in Belgrade is also very similar to Seoul. Winter was cold, but that was okay for me, as winter in Seoul is also severe. To my great pleasure, more and more greenery is coming to us by the day, in many parks and streets, and I am ready to fully enjoy the wonderful time here. You stated when presenting your credentials to the President of Serbia that you intend to continue engaging in the promoting of Serbia as an excellent investment destination for Korean companies, while you also noted that your aim is to double the trade exchange between our two countries. Which areas of the economy do you see as providing the best route to achieving that aim?
There are currently six Korean companies already operating their businesses successfully in Serbia.They are based not only Belgrade, but also in other cities like Niš, Leskovac, Zrenjanin and
TRADE
COOPERATION
Smedervska Palanka, creating almost 10,000 jobs. The good news is that many Korean companies are still expressing an interest in new investment opportunities in Serbia. For example, noting that Serbia has rich resources in terms of IT experts, some Korean IT companies are considering opening their R&D centres here. Others are taking a careful look at the possibility of participating in smart city projects that are either under consideration or being implemented by big and small cities. Given all those instances, I think at least two or three more Korean companies will come to Serbia during my term here as ambassador. It
those two products alone can contribute to a substantial increase in trade volume, if handled properly. For the Korean side, we see a steady increase in exports of products like machinery and semi-conductors, as well as consumer products like cosmetics. The Korean embassy, with the help of the KOTRA Belgrade office, will do its best to achieve our goal.
As for trade, which stood at almost 500 million USD in 2021, there is still huge room to increase its volume
When it comes to Serbian exports, Serbian agricultural and livestock products are well known for their high quality and affordable prices. To date, Korea has relied on imports of some of these products from Serbia, such as corn and pork, through indirect imports via third countries should also be noted that Korean businesses regard Serbia as a promising long-term partner for co-prosperity. As for trade, which stood at almost 500 million USD in 2021, there is still huge room to increase its volume. When it comes to Serbian exports, Serbian agricultural and livestock products are well known for their high quality and affordable prices. To date, Korea has relied on imports of some of these products from Serbia, such as corn and pork, through indirect imports via third countries. The direct trade of
The IAC Belgrade was awarded as the “Best IAC” last year, among 60 similar IACs all over the world that are supported by the Korean Government
You’ve already pointed out in your meetings with Serbian officials that the Republic of Korea has decided to become a carbon-neutral country that relies on nuclear and renewable energy sources. As one of the world’s leaders in this field, do you see opportunities to broaden cooperation with Serbia?
Certainly. As the two countries are respectively moving forward vigorously with their own ambitious goals for carbon neutrality, there is a huge opportunity for close cooperation with many Korean investors in the field of renewable energy coming to Serbia. On nuclear energy, it seems inevitable to rely on it for the foreseeable future in order to realise the goal of carbon neutrality. Korea has successfully built a nuclear power plant in the UAE, and is currently bidding for a new plant in the Czech Republic. We also have particular strength in the Small Modular Reactor (SMR). Given its advanced technologies and ample experience in exporting related products, as well as Serbia’s strategic goal of inducting nuclear energy for electricity, I believe Korea will make a suitable partner for Serbia’s nuclear energy project in the future. The latest Korean investment in Serbia is represented by the auto parts factory of company Kyungshin Cable in the town of Smederevska Palanka. Considering the global crisis that’s confronting the auto industry, linked to oil and gas prices and difficulties in maintaining supplies, do you believe this
May
15