“Slovenia boasts skilled work force, strong R&D, high sustainability”

By Publisher-Chairman Lee Kyung-sik with VCs Choe Nam-suk, Jang Chang-yong, Reporter Jung Da-jung

Ambassador Jerney Muller of the Republic of Slovenia in Seoul said, “Our country boasts a skilled workforce, strong R&D capabilities and a high level of sustainability.”
Speaking at a recent interview with The Korea Post media (publisher of 3 English and 2 Korean-language news publications), Ambassador Muller said, “Additionally, Slovenia offers a strategic location in the heart of Europe, which provides investors with the opportunity to expand their business beyond our borders.”

At the interview, Ambassador Muller discussed a wide range of topics, which included cooperation between the two countries in the economic and various other areas, including tourism.

Details of the interview:

Question: Please introduce investment environment in Slovenia, including, if any, special favors to foreign investors.

Answer: Our country boasts a skilled workforce, strong R&D capabilities and a high level of sustainability. Additionally, Slovenia offers a strategic location in the heart of Europe, which provides investors with the opportunity to expand their business beyond our borders. In doing so businesses operating in Slovenia can benefit from Port of Koper, which represents the closest connection between Central and Eastern Europe and the Mediterranean Sea.

Foreign investors can also enjoy benefits such as, the databases of suitable investment locations, projects and Slovenian suppliers, consultations for potential buyers of Slovenian products, guidance on launching business in Slovenia as well as easy access to other relevant information even in the post-investment phase.

Additionally, it just takes three days for the company's inception to be processed.
Slovenia offers investment incentives granted in the form of subventions, loans, guarantees, subsidized interest rates and the option to buy municipal real estate at below the market price. It also offers wide range of reliefs in the field of taxation.

Q: What are your views on the methods and opportunities to further strengthen the economic ties between the two countries?

A: From mutual trust to common interest, in the fundamental preconditions for every successful relationship, business is no exception. I am proud to say that we have already managed to build trustful relations between the two countries and that with every contact we have, we explore new common interests and opportunities.

After the opening of Slovenian Embassy in Seoul last year, these contacts were more intense than ever before. Together with Minister of Foreign Affairs and Minister of Economy, members of the Slovenian business delegation visited Korea in June.

The delegation participated in a series of events, including the Korea Import Fair organized by KOIMA, the embassy-organized seminar on launching business in Korea comprised of B2B meetings and also, the Conference on Investment opportunities in Slovenia that was held on KOTRA premises in Seoul. There were meetings between Slovenian Automotive Sector and main Korean automotive brands. Partnership agreement between City of Busan and City of Koper was signed, offering an opportunity to further intensify the cooperation between both port Cities. Just a few weeks ago, a strong Korean business delegation led by KCCI visited Slovenia, for a business conference and B2B meetings with Slovenian companies.

What we need to do now is to maintain these intense bilateral political and economic contacts, and to continue searching for new opportunities. In addition to that, and this is my big personal goal—we need to lay found solid foundation for keeping face-to-face contacts. By doing so, not only politicians and entrepreneurs, but also young people, tourists, artists, students and scientists can start exploring limitless potential of our close mutual cooperation, as well as enjoy the beauty of our countries, the cultures and the people.

Q: Please introduce the Korean companies who are doing well in ' Slovenia.

A: Korea is Slovenia's third largest trading partner among Asian countries. In 2022, trade between our two countries reached 440.5 million euros, of which 369.9 million euros were exports from Korea to Slovenia. In 2021, direct investments by Korean companies to Slovenia amounted to 2.08 million euros. The figures clearly show that there is plenty of room for expanding the trade cooperation as well as investments.

As I had already mentioned, Slovenia and Luka Koper can be considered as an entry point to the rest of Europe, which some Korean companies, such as Hyundai-Glovis Europe GmbH and POSCO, are already taking advantage of. Hyundai-Glovis Europe GmbH, based in Germany, has established a branch in the city of Koper, which takes care of all the logistics from Korea to the European Union. POSCO also established its European steel distribution center in Koper in 2007.

Another company that recognizes the advantages of the Slovenian location is Wooshin Labbotach, a company that produces pharmaceutical patches with a production plant in Grosuplje.

Although there are currently not many Korean companies in Slovenia, we hope that over time, more and more companies will see the advantages that our country offers.

In addition, we hope to continue promoting Slovenia as a filming location, which, with its beauty and stimulating audiovisual environment for entertainment business has served as a filming location for many movies, dramas and TV shows in the past, including for Korean companies such as MBC, KBS, GT Entertainment, etc.

Q: On June 30, 2023, Minister of Foreign Affairs Tanja Fajon and Minister of Tourism & Sports Matjaz Han visited Korea. What are the good results of their visit?

A: The discussions of the two ministers focused on foreign policy cooperation, especially in the context of bilateral cooperation between Slovenia and Korea. The opening of the Slovenian Embassy in Seoul has already contributed to raising the awareness in Korea about the attractiveness and the opportunities in Slovenia.

Ministers also discussed strengthened cooperation in next months with the regard to UN Security Council, as our countries would both like to cooperate on the issues discussed in the United Nations. This can be seen as a strategic dialogue between two like-minded countries and we hope that such dialogue and cooperation will also continue in the future.

cooperation is another topic that is always emphasized. As I said before, Slovenia can present an opportunity by being a window to Central and Eastern Europe. Our Port of Koper is well connected with Port of Busan, and we already cooperate in terms of logistics. We would like to strengthen this cooperation, and even further than is now.

This comes hand-in-hand with our automotive industry where there are many opportunities, not only related to traditional vehicles, but also in providing smart and green technology solutions for the future of the automotive industry.

During visit of the Slovenian minister of Economy, the public agency SPIRIT Slovenia and the Korean partner, KOTRA, the Trade-Investment Promotion Agency signed a Memorandum on Cooperation.

During the visit, we also organized a business and investment conference "Slovenia a Hidden Champion in the Heart of Europe", which introduced Slovenia's business and investment environment, economy, tourism and opportunities for foreign investors. A follow-up conference was held on August 30 in Ljubljana, organized by SPIRIT Slovenia and the Korean Chamber of Commerce and Industry. A Memorandum on Cooperation between SPIRIT and KCCI was signed.

We are also very interested in strengthening cooperation in the fields of new technologies; especially batteries, semi-conductors, Artificial Intelligence, bio-medicine, pharmaceuticals and other hi-tech goods and services. I hope that Slovenia can present a good case, and that the major Korean corporations take interest in expanding their business, in close cooperation with Slovenia and our government agencies.

The opening of the Slovenian Embassy in Seoul gives an additional boost not only to political and economic cooperation, but also to strengthening human-contact relationships. I am certain that many Koreans are already familiar with the beauty of Slovenia, and I know that many Slovenians are very much interested in Korea and their culture. Slovenia is not only interested in attracting Korean tourists because of our locality as the last stop of their journey, but can also serve as a starting point for those who wish to explore Europe to its full extent.

The ministers also discussed possibilities of strengthening cultural relations, particularly on media production as Slovenia is promoting itself as an excellent provider of opportunity for the film and video production.

Q: Please let us know the brief history of diplomatic and economic relations of 30 years between Korea and Slovenia.

A: Slovenia had gained its independence on June 25, 1991 and a year after (18 November 1992) the Republic of Slovenia and the Republic of Korea established their diplomatic relations. Since then, our friendship, based on respecting and promoting same universal values and principles—democracy, human rights and rules based on international order, has grown steadily. At the same time our economic ties have also been growing, especially in the fields such as logistics (Port of Koper as the gateway for Korea into the Central and Eastern Europe, direct shipping connection established between ports of Koper and Busan), automotive industry (largest Slovenian investment in Korea from Kolektor) and tourism.

With the opening of the Slovenian embassy in Seoul, we have achieved another important milestone in our bilateral relations as well as laid down the foundations for further deepening and strengthening, of not only our political and economic relations, but also in human-contact relationships.

After spending my first year in Korea, I am convinced that we have a lot to offer to each other and that we can learn a lot from each other as well.

Q: Please introduce the representative major industries of Slovenia.
A: Slovenia's economy is very diverse, with its primary focus on niche products, new technologies, research and development. At the same time, we are focusing more and more on sustainability and green industry. This is why we can say Slovenia is green, creative and smart.

Here are some of the highlights of the Slovenian industry:

Our automotive industry, which caters to every European car manufacturer, is mainly focused on car components. Our top export products in the sector are, motor vehicles, parts, accessories for tractors and motor vehicles as well as silencers and exhaust pipes.

Known for all kinds of mobility solutions—from air and water sustainable transport to micro-mobility, Slovenian prides itself with global leading products, such as, the first electric airplane with EASA (European Union Aviation Safety Agency) certification, world's first four seat passenger aircraft powdered by hydrogen fuel cell propulsion, as well as world's first mass-produced electric airplane (first electric engine certified by EASA).
Slovenia's economy is led by R&D in its strong pharmaceutical sector, which is also the second largest in Europe. We mainly export high-end medical equipment, generic drugs and biopharmaceuticals.

Our country is a hub for international research in Artificial Intelligence and is home to pioneers in the cryptocurrency industry. We mainly export data processing machines, hard disk storage drives and processing units for automatic data processing machines as well as software solutions. We were also the first EU member state with a national block chain test infrastructure (SI-Chain), and UNESCO's International research center for Artificial intelligence (IRCAI).

Due to the fact that we have successfully sent three Slovenian satellites in space since 2020, and our companies continuously developing new innovative solutions to contribute to space exploration, we can also offer specialized niche products and services in the aerospace engineering field. As we hope that we can develop our space industry even further, Slovenia is currently preparing the First Slovenian Space Strategy.

Besides the above mentioned, Slovenia also has a strong machinery and metal processing sector, which produces large stainless and special steels in Europe, and an electrical industry and electronics sector which among others that exports commutators, electro motors for vacuum cleaners and medical devices, etc.
As around 60% of our land is covered with woods, we have a large wood reserve involved in trade business such as, sawed or chipped wood, wooden furniture as well as other innovative wood products.

Last but not least, Slovenia is known for its wine and prepared-and-preserved meat industry, as well as its expertise in beekeeping. We were also the initiator of the establishment of the UN World Bee Day, which is now celebrated on May 20th.

Q: Many Korean people, espeically for the group of people wishing for comfort, rest and recuperation traveling overseas—What are the major tourist attractions of Slovenia?

A: Slovenia is a small country when it comes to its size, but a large one when it comes to the variety of experiences that tourists can get. It is probably one of the rare destinations in the world where you can ski in the Alps in the morning, swim in the sea in the afternoon, and explore the underground cave world in the evening.

The geographical position of Slovenia in the center of Europe means, among others, that it lies in the crossroads of different European cultures, traditions and gastronomies.

Korean tourists can expect to enjoy the green of the forests, emerald-colored rivers and lakes, and local fresh organic food and wine and to be treated as friends.

Some of our most popular tourist places include Lake Bled, Piran, Ljubljana, Postojna Cave and Maribor.

Slovenia is the perfect getaway. Here are some of the well-known tourist destinations in Slovenia;

Lake Bled:

With a surface area of 1.45 km², Lake Bled is Slovenia's most famous and most visited destination. Surrounded by mountains with a castle perched on a crag overlooking the historical site of the 17th century on the island, it is an outstandingly beautiful place. As a popular swimming spot in the summers, international rowing competitions are held at the lake, including World Championships.

Piran:

Piran, the most beautiful town on the Slovenian coast flourished with the help of salt. The Piran salt pans, where the world-class fleur de sel (flower of salt) is still produced today using age-old techniques, are the reason why the picturesque Mediterranean walled town, with its historic sites and cultural attractions, flourished.

Postojna Cave:

Postojna Cave is the only place where you can witness the brilliance of natural geology by its cave formation and the olms, extremely rare cave salamanders known as Proteus. Just like the world above the surface, Postojna Cave boasts towering mountains, murmuring rivers and vast subterranean ravines.

Ljubljana:

Ljubljana is the green capital of a green country. The area on either side of the river with its picturesque bridges and the central market owes its distinctive appearance to the great architect Jože Plečnik. The city of thousands of events, is surrounded by parks and areas of protected nature.

Maribor:

Maribor is our second biggest city and home to the oldest grape vine in the world. Wine-making has a long history in Slovenia. And all around the country, you can enjoy relaxation surrounded by nature, excellent gastronomy and a glass of premium wine.

Soča Valley:

The River Soča, which has a distinct emerald green colour, is considered to be one of the most beautiful rivers in Europe. Its water flows across waterfalls, small waterfalls, and cascades as well as through narrow rocky gorges, and along the way, you can see that the nature of Soča has carved surprising canyons and pools. The river and its tributaries excite the lovers of natural beauty and seekers of adventurous water sports, such as wildwater kayaking, rafting, canyoning, etc. A renowned fish lives in the River Soča—the Soča Trout, which attracts fishermen from all over the world. The mountainous landscape above the river was the decisive ground of the largest mountain battle in history, during World War I.