Jacques Flies, Luxembourg’s Ambassador to South Korea (left), poses for a photo with Hwang Sung-yeob, Chairman of the Korea Financial Investment Association. Korea Financial Investment Association
The Korea Financial Investment Association (KOFIA) is stepping up cooperation with Luxembourg, Europe’s largest asset management hub.
KOFIA said Chairman Hwang Sung-yeop met with Luxembourg Ambassador to Korea Jacques Flies on Thursday to discuss ways to expand cooperation between the financial investment industries of the two countries.
The meeting focused on potential cooperation between Korea’s financial investment industry and Luxembourg, centering on the country’s asset management hub functions, digital asset infrastructure, and space industry ecosystem.
Luxembourg is a key administrative base of the European Union, hosting the Secretariat of the European Parliament, and is considered Europe’s largest asset management hub. As a global center for offshore funds, it has also secured competitiveness in international bond listings and sustainable finance. More recently, it has drawn attention as a leading digital finance nation, accelerating the institutionalization of distributed ledger technology (DLT)-based securities and the development of market infrastructure.
“Luxembourg is a leading European financial hub with strengths in asset management, digital finance, and the space industry,” Hwang said. “KOFIA will expand cooperation channels with Luxembourg to actively support Korean financial investment firms’ overseas expansion and the discovery of investment opportunities in future strategic industries.”