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C. Otto Gehrckens

Raute Oy

Maschinenfabrik Berthold Hermle AG



TRAUB DREHMASCHINEN GmbH

Soco System GmbH

South Korea and Poland; Unlocking the Potential for industry in CEE
2023-07-03 00:00:00
Forging Strong Business Partnerships: Unlocking the Potential of Industrial Products into Poland

The relationship between South Korea and Poland has been steadily strengthening, marked by significant arms deals and a Korean firm's contract to build a nuclear power plant in Poland. This growing partnership, often referred to as 'kimchi diplomacy,' is a testament to the shared values and interests of the two nations.

Both South Korea and Poland experienced a transition to democracy in the early 1990s and have since fostered conservative electorates. In 2022, the two countries solidified their ties in several ways. Warsaw opted for South Korean manufacturers over European allies, placing an order for 1,000 K2 tanks, 600 self-propelled howitzers, and 48 light combat aircraft as part of a $6 billion arms deal. Additionally, Korean companies have been increasingly investing in Poland, with Korea Hydro & Nuclear Power undertaking the construction of four nuclear reactors in the country.

South Korean companies have been the biggest Asian investors in Poland over the last 5 years.

Trade between South Korea and Poland has also been on the rise, with imports and exports nearing $1 billion in 2021. Notably, South Korea has higher exports to Poland, exceeding imports by approximately €100 million. The Polish prime minister's office attributes this flourishing relationship to years of cooperation and trust-building.

Korean Minister for Trade Dukgeun Ahn acknowledges the importance of Poland as an investment partner, citing its membership in the European Union, a skilled workforce, and favorable access to other major European partners. The strategic partnership between South Korea and Poland was established in 2013, signifying the shared historical experiences of both countries in achieving democracy and economic growth. President Bronislaw Komorowski of Poland was the first European leader to visit the newly elected Korean President Park Geun-hye at the time.

According to Małgorzata Bonikowska, president of the Centre for International Relations think-tank, the strengthening ties between Poland and South Korea can be attributed to Korea's strategic decision to view Warsaw as its gateway to the West or at least to Central Europe's regional market. Minister Dukgeun Ahn affirms that many Korean companies now invest in other Central European countries like the Czech Republic and Slovakia.

This commitment to Poland is exemplified by 'kimchi diplomacy.' Kimchi, Korea's national dish and a symbol of its culture, is considered an important aspect of Korean foreign policy. Daesang, the largest kimchi manufacturer in Korea, announced the construction of its first factory in Poland, emphasizing the intention to promote kimchi's excellence and legitimacy in Europe.

Despite the geographical distance, South Korea has become one of the largest foreign investors in Poland, surpassing most non-EU countries and rivaling the United States. In 2021, Korean foreign direct investment in Poland reached approximately $1.9 billion. Major Korean conglomerates, known as chaebols, have a significant presence in Poland, particularly in the consumer electronics and automotive industries.

For Poland, forging an alliance with South Korea is advantageous, especially as it continues to experience conflicts with other European countries regarding the rule of law and EU funds. The Polish government has made it clear that they are willing to purchase arms from non-EU countries as long as these countries are not engaged in conflicts with Poland within the European Union. This stance could signal Poland's openness to expanding cooperation with the Republic of Korea beyond arms deals.

Unlike the historical baggage that often hampers relationships between European countries, the budding friendship between Poland and South Korea is unburdened by such issues. According to experts, there is no historical past or competition between the two nations, allowing them to focus on building a mutually beneficial partnership.