It is predicted that the next German government, which held the general election last month, will strengthen its eco-friendly policies and hasten the digital transformation. KOTRA (KOTRA) announced on the 11th that in the report ‘Market Prospects and Opportunities Factors for Korean Companies after the German General Election’ on the 11th, all major political parties are putting forward climate change response and digital infrastructure expansion as core policies. KOTRA predicted that the eco-friendly market will continue to grow rapidly and that investment in digital infrastructure will increase.
Germany’s general election held last month is highly likely to form a coalition government, as there is no party receiving a majority of the votes. Among the various scenarios, the possibility of the launch of a ‘traffic light’ (SP+Green Party+LDP) coalition is growing. KOTRA predicted that the Green Party would have a significant impact on the environmental policy of the next coalition government.
In the general election, the Green Party pledged to pursue a stronger environmental policy than the Merkel administration with the goal of being carbon neutral by 2035. He promised to raise the carbon tax from the current 25 euros (34,407 won) to 60 euros (82,576 won) per ton and expand the target of solar power generation to 12 GW by 2022.
The Social Democratic Party, which became the first party in the parliament, also promised to expand the supply of clean energy, such as obliging public institutions and commercial facilities to install solar power, promoting the production and recycling of electric vehicle batteries, and fostering the hydrogen economy.
KOTRA predicted that the digital transformation will be accelerated when the next government comes to power. The Social Democrats promised to provide 1GB or more of high-speed internet to all households and businesses in Germany, while the Green Party emphasized administrative digitalization and cybersecurity. The LDP announced that it would build a 5G network across Germany by 2025 and create a ‘Digital Transformation Department’ to oversee digital transformation policies.
Kim Tae-ho, head of KOTRA’s Economic and Trade Cooperation Headquarters, said, “The eco-friendly and digital stance shown in the German general election is both an opportunity and a threat to Korean companies’ entry into the German market.
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