German Executives Push for Faster EU Reform
Industry leaders at a Seoul business conference argued that cutting regulation is essential to restore European competitiveness.
Updated on Nov. 1, 2026 in International Trade
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Executives from BASF, DHL Group and Hager Group spoke at the 2026 Asia-Pacific Conference of German Business in Seoul, urging faster reforms to reduce Europe's regulatory burden and boost growth. They pointed to South Korea's export-oriented manufacturing as a model for European companies.
Why it matters
German industrial production has shown zero growth for seven years, and Europe's share of global trade has declined as protectionism rises. Executives argue that without restoring cost competitiveness, Europe risks becoming isolated and reliant on protectionism.
AI and semiconductor demand drove more than 80 percent of global trade growth in the first half of 2026, while German industrial production has shown zero growth for seven years. BASF's CEO said he could name 20 regulations that raised business costs and none that lowered them, though the specific rules were not identified.
The players
BASF
BASF is a German chemical company and one of the world's largest chemical producers, with significant operations in Asia.
Markus Kamieth
Markus Kamieth is the chief executive of BASF, who has publicly criticized European regulatory costs.
Daniel Hager
Daniel Hager is the chief executive of Hager Group and president of Germany's Electro and Digital Industry Association (ZVEI).
The details
At the 2026 Asia-Pacific Conference of German Business in Seoul, executives from BASF, DHL Group and Hager Group discussed how companies can handle rising protectionism and geopolitical uncertainty. BASF exports more than half of its Korean production to global markets, and the speakers contrasted European cost structures with Korea's manufacturing model.
Timeline
First half of 2026: AI and semiconductor demand drove over 80 percent of global trade growth.
November 1, 2026: Executives spoke at the breakfast session of the Seoul conference.
Market Dynamics
Europe's share of global trade has declined even as AI and semiconductor demand reshaped trade flows in 2026. Executives frame the regulatory and cost gap relative to export-oriented Asian manufacturers as the central constraint on reversing that decline.
Businesses in Europe and their trading partners face rising costs and uncertainty if regulatory burdens are not reduced. Consumers may see the effects through prices and product availability as manufacturers adjust production strategies.
The takeaway
Lowering regulatory costs is presented by these executives as a precondition for Europe to compete in global manufacturing. Watching whether specific rules are repealed will show whether the rhetoric turns into policy.
Further reading
For broader context on how trade barriers and protectionism are reshaping commerce, explore International Trade coverage.
Source note: This article includes information reported by The Korea Herald.
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