Promoting ‘high-tech partnership’ with Germany… Strengthening energy cooperation

(Seoul = Yonhap News) Reporter Hwang Yoon-ki = With the summit meeting between President Lee Jae-myung and German Chancellor Friedrich Merz, the two governments will promote 'economic and high-tech partnership'.

The Blue House announced on the 29th that the Korean Ministry of Trade, Industry and Energy and the German Federal Ministry of Economy and Energy will sign a joint letter of intent on the economic and high-tech partnership framework.

The intention is to expand cooperation between the two countries, which is currently limited to the fields of trade and investment, to the fields of industry and advanced technology.

To this end, the two countries decided to use the consultative body to inspect the implementation of cooperation tasks and continuously discover new cooperation.

The Blue House said, “We will build a comprehensive framework to develop economic cooperation between the two countries into a strategic partnership that encompasses supply chain, economic security, and high-tech industries.”

The Korean Ministry of Climate, Energy and Environment and the German Federal Ministry of Economy and Energy decided to sign a joint letter of intent to establish an energy partnership.

The plan is to strengthen the implementation system, including concretizing energy cooperation related to AI and data centers and creating a regular consultative body.

The Blue House explained, “We intend to support the stable supply of clean energy and energy transition by linking the policy experiences and technological capabilities of both countries.”

In addition, an agreement amendment protocol was signed at the summit to prevent abuse of the double taxation prevention agreement between the two countries and to strengthen regulations to prevent tax avoidance related to permanent establishments.