South Korean SK Group Interested in Investing in Serbia

Prime Minister Ana Brnabic said yesterday in Seoul, after signing a Memorandum of Understanding with the representatives of the South Korean conglomerate SK Group, that “Serbia is ready to bring technologically advanced, capital-intensive investments and that its chance lies in the fact that the conglomerate does not have a biotechnology center in Europe.”

– We have signed the Memorandum of Understanding, I hope that we will not miss that opportunity and that we will be the European biotechnology center for South Korea. When the second largest Korean conglomerate comes to you, then it is easy to bring in everyone else. That is our immediate goal – explained the prime minister, as announced on the website of the Government of Serbia.

This document refers to a possible investment by part of the conglomerate that deals with biotechnologies in Serbia, she stated.

Brnabic noted that she did not want to raise expectations, but also expressed the hope that they would reach a final contract by the end of this year.

– We will have the first enormous, capital-intensive investment in Serbia. In the second half of September, the company’s representatives are sending a delegation to Serbia for further negotiations. I hope that, as a result of this visit, we will have the first big investment, and then others following it – the prime minister pointed out.

According to her, since the Korea Trade-Investment Promotion Agency (KOTRA) opened its office in Belgrade in 2015, the trade cooperation between the two counties has progressed considerably.

Brnabic noted that, in 10 years, the goods trade had increased nearly 50 times. The exports to the Republic of Korea had increased more than 100 times, from 2.1 million to 214 million dollars, whereas the goods trade amounted to 585 million in 2022, the prime minister specified.

Vlada Republike Srbije

Government of Serbia

SK Group

Korea Trade Investment Promotion Agency

KOTRA

Ana Brnabic

Seoul

Memorandum of Understanding SK Group

biotechnologies