IP & Art

In summary, Korea's entry into Europe can be divided into three groups. In other words, there are about 100 European headquarters of European companies located in Frankfurt. This means that all the companies that fall under the top 10 major export items are entering the market. Production facilities such as automobiles are located in Eastern Europe, where labor is cheap, and Hungary, Slovakia, Poland, and the Czech Republic account for the majority of the V4.

And the other group is said to have about 100 sales subsidiaries in London, etc. targeting the UK domestic market. Therefore, even after BREXIT becomes a reality in 2020, it is predicted that realistic problems such as tariff barriers will not be too big since there are no other manufacturing facilities in the UK. I thought I was lucky.

When I asked about the current situation in Frankfurt, the investment promotion agency in Frankfurt said that they are doing their best to attract financial institutions in London after BREXIT. Among them, the most important institution is the European Financial Supervisory Service. It is currently in London, but if BREXIT is done, it will be inevitable to move it, so we will do our best to attract it.

Even today, the European Central Bank is located in Frankfurt, Frankfurt will become the undisputed center of European finance.  And in the Westend area, the financial center of Frankfurt, offices are located on the right and residential facilities are located on the left, and it is said to be the most expensive area in Europe for rent.

At first glance, they said that it does not seem that active financial transactions like London are taking place. However, when many financial institutions relocate, there are currently insufficient housing facilities to accommodate them, and furthermore, English is not fully common like the English-Americans, so this seemed to be the most realistic difficulty. In that respect, some institutions are actually looking for Paris as an alternative, but the prevailing view was that many financial institutions would have to relocate to Frankfurt as it was worse than Frankfurt in terms of language.

Although there is no disagreement with the general view that Germany is the most beneficiary of EU integration, it is analyzed that it is based on Germany's strong national competitiveness. When asked what Germany's national competitiveness was, Deputy Director Lee emphasized without hesitation, "Germany itself places importance on national values and practices them." In other words, as a traditional Christian country, the importance of dialogue and integration was put into practice.

It is said that Chancellor Merkel was deeply moved by the recent speech that in history, reflection will never end and that it will move forward to the end. It is true that it is surprising that the approach is so different from that of neighboring Japan, and that it comes as a fresh shock. It would be difficult to deny the fact that such a sound moral code or soundness acted as a major factor in national development.