Serbian Ambassador to South Korea Nemanja Grbic highlighted Serbia’s future opportunities and its growing role as a regional hub for innovation and investment during a session of the Global Business Forum on Wednesday.
Addressing an audience of business leaders, Grbic emphasized Serbia's transition from an agriculture-dominated economy to a leader in information and communication technologies, with ICT exports now surpassing agricultural goods.
Grbic also underscored the robust economic partnership of 35 years between the two nations. Trade volume between Korea and Serbia has grown fivefold over the past decade, with bilateral trade reaching approximately $700 million annually.
"Korean companies, recognizing Serbia’s excellent geographic position, high-quality workforce, low operational costs, and effective government incentives, have invested hundreds of millions of dollars, employing around 10,000 people -- mostly in the automotive industry," he added.
A Bilateral Investment Agreement signed last year and the initiation of Economic Partnership Agreement negotiations this September further solidified the economic relationship, he explained.
He also outlined Serbia’s success in attracting foreign direct investment, highlighting an annual inflow of $4.5 billion, accounting for 65 percent of all FDI in the Western Balkans.
He shared Serbia’s commitment to renewable energy, citing Hyundai Engineering’s plans to construct solar power plants and battery storage facilities with a total capacity of 1.2 gigawatts in Serbia over the coming years.
In addition to Grbic's address, the forum featured prominent speakers from content industry.
Koo Bum-joon, CEO of Sebasi, a lecture platfrom which is an abbreviation for a Korean name which translates to "15 minutes, time to change the world," emphasized the importance of making "one's story" in a world where all occupations could be replaced by AI.
Thinking of how one could be irreplaceable, he said one's raw experience and the authentic lessons learned is something that AI will never be able to take over. He also highlighted the importance of starting with "Why" in all the actions and decisions we make.
Kim Hyun-woo, CEO of Seoul Business Agency, echoed the importance of genuine stories.
"In an agricultural society, materials mattered, in an industrial society, goods mattered, in an information society, information mattered, and now in an emotional society, stories matter. The industrial paradigm is shifting to the emotional era," he said.
The GBF, organized by The Korea Herald, is an association of experts from various fields such as business leaders, scholars, diplomats and celebrities, who come together on Wednesdays for lectures and to exchange views and ideas on industrial changes.
