Porsche Korea CEO Holger Gerrmann was elected as the ninth German chairperson at the 41st Korean-German Chamber of Commerce and Industry Annual General Meeting on Thursday.

Run by a co-chairing system, KGCCI will now be led by Gerrmann and Korean Chairperson Park Hyun-nam, who is also the Deutsche Bank CEO.

“We will continue to create the foundation for Korean and German companies to grow together, honoring the long-standing successful business relationships of our two countries and emphasizing the importance of innovation and social responsibility,” said Gerrmann in a statement.

Gerrmann has been leading Porsche Korea since 2019.