Korea Fintech Support Center Creates Platform for Fintech Cooperation with Lithuania

[From the left, Jeong Hoi-seung, Commercial Counselor of the Embassy of Lithuania in Korea; Son Seong-gyun, Manager of Korea Fintech Support Center; Lukas Jakubonis, Chief Business Officer of the Bank of Lithuania; Byun Young-han, Chairman of Korea Fintech Support Center; Andrius Sankauskas, Counselor of the Embassy of Lithuania in Korea; Liutauras ?ilinskas, Senior Investment Officer of the Lithuanian Investment Agency]

The Korea Fintech Support Center (Chairman Byun Young-han) announced on the 10th that four officials, including Lukas Jakubonis, Chief Business Development Officer of the Bank of Lithuania, representatives from Invest Lithuania, and the Embassy of Lithuania in Korea, visited the Korea Fintech Support Center.

This visit was organized by the Embassy of Lithuania in Korea, which invited officials from the Bank of Lithuania and Invest Lithuania to promote fintech cooperation with Korea. The itinerary included visits to domestic financial companies, internet-only banks, and fintech firms through the Korea Fintech Support Center.

Various discussions were held targeting Korean fintech companies and financial institutions, covering topics such as strategies for entering the European market via Lithuania, business and investment opportunities, procedures for establishing corporations, as well as sharing the current status of Korea's fintech industry and experiences with the financial regulatory sandbox.

Lithuania, a member of the European Union with a population of 2.7 million along the Baltic Sea coast, is known for its swift issuance of licenses required for European market entry. It hosts 263 fintech companies, including fintech unicorns such as Revolut (internet bank) and Mambu (financial software company), and is emerging as a fintech hub for European expansion.

The number of Korean fintech companies pursuing overseas expansion based on excellent domestic technology and services is steadily increasing, and visits to Korea continue to foster cooperation with Korean financial companies and fintech firms that possess outstanding technology and services abroad.

In line with this trend, the Korea Fintech Support Center plans to provide practical cooperation opportunities to support the overseas expansion of domestic fintech companies, including supporting the Korean pavilion at Hong Kong Fintech Week (November 1?3) at the request of the Consulate General of the Republic of Korea in Hong Kong, participating in the Singapore Fintech Festival (November 15?18), facilitating Korea-US fintech company cooperation invited by the US Embassy in Korea (November 20), and hosting the Korea-Poland fintech webinar (December 7).

Chairman Byun Young-han of the Korea Fintech Support Center stated, “To further activate the overseas expansion of domestic fintech companies, we plan to diversify cooperation with advanced financial and fintech countries in Europe such as Lithuania and Luxembourg, alongside ASEAN market entry through bases in Hong Kong and Singapore, thereby expanding opportunities for fintech companies’ global advancement.”