Seo Yuseok, Chairman of the Korea Financial Investment Association, Seeks Cooperation Plan with Luxembourg Finance Minister

Korean Asset Management Firms Anticipate Expansion into Luxembourg

[Asia Economy Reporter Kwangho Lee] The Korea Financial Investment Association announced on the 6th that Chairman Seo Yuseok discussed expanding investment and cooperation between the financial investment industries with Yuriko Beckes, Luxembourg's Minister of Finance, and Pierre Pering, Ambassador of Luxembourg to Korea.

At the meeting held that day, Minister Yuriko Beckes and her delegation stated that Luxembourg is the world's second-largest asset management hub after the United States, and that 35% of 'UCITS funds' established in Europe are set up in Luxembourg. They also emphasized that Luxembourg offers high accessibility for foreign investors and strong market connectivity within Europe, along with active tax benefits, a market-friendly government, and an open culture, making it advantageous for Korean financial investment companies to enter the European market.

Seo Yu-seok, Chairman of the Korea Financial Investment Association, is taking a commemorative photo after holding a meeting with Yuriko Beckes, Minister of Finance of Luxembourg, at the Korea Financial Investment Association building in Yeouido, Seoul on the 6th. / Photo by Korea Financial Investment Association

The association explained the global expansion status and investment interests of its member companies. They also agreed to make efforts in various fields to sustain financial cooperation between the two countries.

Chairman Seo said, "I felt that Luxembourg has high expectations for our financial investment industry's entry into their country," adding, "We will seek multifaceted cooperation plans with Luxembourg to smoothly support our member companies' overseas businesses."

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