(3rd LD) Lee-Germany summit

(ATTN: UPDATES with more info in paras 11-13)

SEOUL, Oct. 29 (Yonhap) -- President Lee Jae Myung said cooperation between South Korea and Germany is more important than ever amid growing uncertainties, calling for closer partnership in security, the defense industry and other areas.

Lee made the remarks at the opening of a summit with German Chancellor Friedrich Merz at Cheong Wa Dae in Seoul to discuss ways to expand economic and security cooperation between the two countries.

Merz's trip marks the first of its kind since he took office and the first visit by a German chancellor to the country in three years.

"Now that uncertainties in the global situation are increasing, cooperation between South Korea and Germany, which share (the same) values, is more important than ever," Lee told Merz.

Lee highlighted that the two countries, both global manufacturing powers, are key partners for cooperation in establishing stable supply chains and creating new growth engines.

The South Korean president also said the two countries have agreed to establish an Enhanced Strategic Partnership based on trust and cooperation rooted in a deep bond between them.

Merz said the countries' interests are very much interconnected and welcomed the establishment of an upgraded bilateral strategic partnership.

The German leader noted that bilateral cooperation has become very important not only in the economy but also in politics due to mounting challenges.

He also invited Lee to visit Germany to attend a digital summit in Berlin next year, expressing hope that Thursday's summit would expand cooperation in future technologies, semiconductors and other sectors.

During the talks, the two leaders discussed economic cooperation in future industries, such as batteries, semiconductors and artificial intelligence, as well as defense and arms industry cooperation, and regional and international issues.

Some 60 business leaders from South Korea and Germany, including Hyundai Motor Group Executive Chair Euisun Chung, attended an official dinner held after the summit to help boost economic ties between the two countries.

Other attendees included Korea International Trade Association Chairman Yoon Jin-sik, POSCO Group Chairman Chang In-hwa and Siemens CEO Roland Busch, according to the presidential office.

Speaking at the opening of the dinner, Lee said Germany's precision, combined with South Korea's dynamism, will create unlimited synergies.

Merz will also attend the 19th Asia-Pacific Conference of German Business in Seoul during his two-day visit.

The two leaders last met on the sidelines of the Group of Seven (G7) summit in France in June. Thursday's summit marked their third meeting since Merz took office.

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