South Korean businesses were encouraged to invest in Eastern Germany, as German investment specialists and company leaders shared insights about business prospects in the country’s new federal states at a meeting hosted by the Korean-German Chamber of Commerce and Industry in Seoul on Wednesday.

Officials from Germany Trade & Invest ― an organization that helps foreign companies enter German markets ― discussed current business conditions and investment flows in the new federal states of Germany, which are located between Western and Eastern Europe.

The semiconductor, microelectronics and automobile industries, among others, were cited as major markets in Germany. Federal investment grants of up to 40 percent are available for foreign companies seeking to invest in German companies, depending on the company size, investment volume and target region.

Hanwha Q Cells discussed how a middle-sized German firm joined a Korean conglomerate to become Europe’s largest provider of photovoltaic modules used in solar panels while Germany-based high-tech company Jenoptik shared insights about the company’s standing in the photonics industry.

(jys@heraldcorp.com)