Poland-Korea cooperation is flourishing and Poland is ready to accommodate more Korean investments, Polish Charge d’Affaires Arletta Brzozowska said during her opening remarks at the second edition of The Korea Herald’s Global Business Forum on May 11 in Seoul.

The forum, a 13-week event held every Wednesday, is aimed at sharing and enhancing knowledge of the international community, and for exploring overseas investment opportunities and expanding business networks.

“Poland is particularly a popular destination for Korean investment,” Brzozowska said adding there were over 270 Korean companies present in Poland, and that Korea is one of the biggest non-EU investors in her country.

Inviting the attending CEOs to participate in Poland Business Week in Seoul aimed at promoting Polish companies operating in fields of new and advanced technologies, she said that Polish companies are also looking to expand into the Korean market.

According to Brzozowska, Poland Business Week promoted Polish companies from sectors such as fintech, cybersecurity, drones, games, yachts and boats and medical devices and equipment in 2021.

Brzozowska referred to estimates from 2021 citing Korea as biggest foreign investor in Poland with investment volume reaching almost $2 billion. 

“A large number of Korean chaebols are present in Poland -- among them such groups as: LG, Samsung, SK, Hyundai, Halla, Posco, Doosan and Lotte,” Brzozowska said, mentioning Incheon International Airport Corporation as strategic adviser for a new airport project in Poland -- the Solidarity Transport Hub.

Brzozowska said the Polish economy had weathered the COVID-19 pandemic relatively well, maintaining the country’s value as an investment destination.

“Poland’s GDP declined by only 2.5 percent in 2020 and grew as much as 5.7 percent in 2021,” said Brzozowska emphasizing that the Polish economy is now back to pre-pandemic levels.

She underlined that Poland has remained an attractive country for foreign investment throughout the pandemic, citing CEO Magazine, which ranked Poland the third most attractive post-COVID investment destination in the world in May 2020.

“The volume of foreign investment in Poland in 2021 is estimated at $24.8 billion, which is an 82 percent increase on an annual basis,” highlighted Brzozowska.

She cited the automotive industry, appliance and device production, R&D and modern business services as the most attractive sectors for foreign direct investment.