SIMTOS: Korean Demand Bolsters German Machinery and Equipment Industry

SEOUL, Korea, April 12, 2010 - The Republic of Korea is the second largest Asian investor in
Germany and one of Germany's most important trade partners in the machinery
and equipment industry. Germany Trade & Invest will have representatives at
this year's Seoul International Machine Tool Show (SIMTOS) from April 13 - 18
in the South Korean capital to highlight opportunities for Korean companies
in Germany.

Korea is one of the key importers of "Made in Germany" goods
and the source of direct investments totaling over EUR 4.4 billion, making it
the second largest Asian investor in Germany. Korean companies are major
producers in Germany, utilizing the location as a gateway to European markets
and as a high-tech production site.

According to a recently published IBM study examining foreign
investments worldwide in 2008, the machinery and equipment industry in
Germany outperformed expectations. While most countries saw a decline in
investments for the year, Germany showed an upswing, creating 40 percent more
jobs than the previous year. Although 2009 investment figures are not yet
available, total investment projects in Germany increased slightly for the
year, if at lower investment volumes due to financing bottlenecks.

The performance of this industry is a testament to Germany's
highly skilled workforce. The "Made in Germany" label has a long-standing
reputation. The tradition of high quality products and efficient processes in
the machinery and equipment industry is the cornerstone of Germany's
industrial base. This industry makes Germany an attractive production
location for sectors such as the automotive, shipbuilding and semiconductor
industries.

SIMTOS 2010 provides a unique chance to highlight
opportunities for growing Korean-German partnerships. Korea and the European
Union are in negotiations for a free trade agreement that would reduce
hurdles for this industry. For most machinery, tariffs would be eliminated as
soon as the agreement is passed. Recent studies estimate that the volume of
trade between Korea and the EU could increase by as much as 40 percent.
Germany is Korea's number one trade partner within the EU. At SIMTOS 2010
Germany Trade & Invest will have representatives at the German Pavilion
located at booth C3211 in Hall 3 to highlight business opportunities in
Germany.

Germany Trade & Invest is the foreign trade and inward
investment promotion agency of the Federal Republic of Germany. The
organization advises foreign companies looking to expand their business
activities to the German market. It provides information on foreign trade to
German companies that seek to enter foreign markets.

    Germany Trade & Invest
    Eva Henkel
    Email: eva.henkel@gtai.com
    T: +49(0)30-200099-173
    F: +49(0)30-200099-111

Germany Trade & Invest, Eva Henkel, Email: eva.henkel at gtai.com, T: +49(0)30-200099-173, F: +49(0)30-200099-111