Luxembourg for Finance (LFF) has announced that it aim to work together with its Korean counterparts to develop exchanges in the area of financial services between the two countries.
LFF’s CEO, Nicolas Mackel, stated that Luxembourg is looking forward to working with Korea to bolster Seoul’s role as a leading Asian financial centre and Luxembourg’s role as a platform for Korean fund managers in Europe.
Luxembourg domiciled funds represented 92% of foreign funds admitted for distribution in Korea. Major Korean fund managers such as Mirae, Korea Investment Management and KN Asset Management have also chosen Luxembourg to set up funds.
This new agreement with Seoul Metropolitan Government and Financial Hub Korea reinforces LFF's network of such partnerships signed with other financial hubs around the world, including Toronto, Shanghai, Dubai, Moscow and others.