The Korea Financial Investment Association discussed with Luxembourg ways for Korean financial investment companies to enter the European market and cooperate on new businesses.

KOFIA said its chairman, Hwang Seong-yeop (황성엽), met Luxembourg Ambassador to South Korea Jacques Flies (자크 플리스) on Tuesday to discuss support measures for Korean financial investment companies expanding into Europe and finding new global businesses.

The meeting focused on Luxembourg’s role as an asset management hub, its digital asset infrastructure and its space industry ecosystem, and discussed the potential for cooperation with Korea’s financial investment industry.

Luxembourg is a key administrative hub of the European Union, where the secretariat of the European Parliament is located. It is also considered Europe’s largest asset management hub and a global centre for offshore funds.

It also has competitiveness in international bond listings, sustainable finance and digital asset infrastructure. In particular, it has recently drawn attention as a key partner in digital finance by leading the institutionalisation of distributed ledger technology-based securities and building market infrastructure.

KOFIA plans to expand channels of cooperation with Luxembourg to support Korean financial investment companies’ overseas expansion and to identify investment opportunities in future strategic industries.

Hwang said, "Luxembourg is a leading European financial hub with strengths in asset management, digital finance and the space industry." He added, "The association will actively support Korean financial investment companies’ overseas expansion and the identification of investment opportunities in future strategic industries by broadening channels of cooperation with Luxembourg."

A KOFIA official said, "This meeting is expected to serve as an opportunity for Korea’s financial investment industry to seek new business opportunities in the European market and broaden the foundation for global cooperation for the K-capital market."