According to the current Bloomberg Innovation Index (end of 2018), South Korea is among the most innovative countries in the world. One of the most important sectors of the South Korean economy is the chemical industry, where, among other things, the development of new materials, which are part of the New Growth Engines, is being pursued. In the long term, the South Korean government wants to replace fossil fuels with hydrogen as the main energy source and in the short term it wants to have up to 80,000 fuel cell powered cars on Korean roads by the end of 2022. The K-REACH (Act on Registration and Evaluation of Chemical Substances) and the Biocidal Product Regulation (BPR), which came into force in 2019, have already had a decisive influence on the Korean market.
The event “Korea Chemicals Industry Forum” was hosted by KOTRA (Korea Trade-Investment Promotion Agency) on June 25, 2019 at Haus am Dom in Frankfurt am Main. It focused on current progress in the chemical sector and political developments in this area. The event also provided background information on the current status and prospects in the South Korean chemical industry, the New Growth Engines and much more. It also offered the opportunity to exchange ideas with other companies in this sector. Further information on this event can be found in the following program overview: KOTRA Frankfurt – Invitation Chemical Industry Event.