The Ministry of Foreign Affairs held its first meeting with Germany's new coalition government headed by chancellor Olaf Scholz.

The 33rd session of a joint economic committee was held virtually Thursday led by senior ministry official Lee Seong-ho and Andreas Nicolin, deputy department head at the Germany's federal ministry for economic affairs and climate action.

It marks the first government-level meeting between Seoul and Berlin after Scholz was formally sworn in Wednesday. 

The two sides agreed to cooperate in rebuilding global supply chains and also discussed ways to apply the European Union's chip policies to South Korean firms.

They also discussed measures to facilitate a smooth transition to  a hydrogen economy and explored the possibility of pushing for a Korea-EU Digital Partnership Agreement.

The two sides also discussed potential projects that can bring together Korea's New Southern Policy initiative with Germany's Indo-Pacific strategy as well as strengthening the multilateral trade regime led by the World Trade Organization.

Seoul also asked Berlin's support for Korea bids for the post of director-general in the International Labor Organization and as host of the 2030 World Expo in the port city of Busan.