Luxembourg's Prime Minister, Xavier Bettel, is leading an official delegation to South Korea this week, from Monday 24 to Friday 28 April 2023.
The primary reason for the visit is to participate in the United Nations Korean War Commemoration, with the itinerary also including Prime Minister Bettel meeting the President of South Korea, Yoon Suk-Yeol, in Seoul. Later, in Busan, Prime Minister Bettel is set to address the UN's Ministerial Summit on Veteran Affairs and to participate in a banquet in honour of veterans of the Korean War (along with New Zealand, the US and Germany).
During the visit, Prime Minister Bettel is scheduled to lay wreaths at the Memorial to the Korean War and at the memorial cemetery of the UN in Korea. The official delegation will also take the opportunity to visit a museum within the United Nations building that pays homage to the 21 nations who supported South Korea during the Korean War. Prime Minister Bettel will also lead a visit to the headquarters of Kiswire (KISWIRE International SA is based in Bettembourg) which manufactures speciality steel wire products for a diverse range of industries. A musical concert is also planned in honour of Prime Minister Bettel who is also scheduled to officiate at the ceremony for a new Consul General of Luxembourg in South Korea, Seok-Pyo Hong. And a boat tour of the Busan Marina is scheduled, weather permitting (the country is currently experiencing monsoon season).
Official Delegation
The official delegation is made of of eleven people, including Pierre Ferring, Luxembourg Ambassador to Japan (where he resides), the Republic of Korea and the Philippines, as well as: Jacques Flies, Secretary General of the Government Cabinet (Conseil de gouvernement); Claude Faber, diplomatic advisor to the Prime Minister; Patrick Majerus, Head of the Service for the Memory of the Second World War, at the Ministry of State; Benoit Niederkorn, director of the National Military Museum (MNHM), and others.
Luxembourg Veterans Delegation
In addition, a small delegation of Luxembourg veterans included Léon Moyen (who saw active duty in the Korean War), his son and grand-daughter, the wife of Joseph Flammang (who also served in the Korean War) and who died in 2008, the husband of the niece of Gilbert Hauffels (who also served in the Korean War) and who died earlier this year, plus a representative of the Korean Association of Luxembourg.
Diplomatic Ties
Luxembourg and South Korea established diplomatic relations in 1962, with Pierre Ferring (non-resident) Ambassador since May 2019.
Since 1992, the Honorary Consul of Luxembourg in the Republic of Korea has been Young-Chul Hong, also Chairman and CEO of the Korean company Kiswire. Having retired in early 2023, it was his son Suk-Pyo Hong and successor at the head of the Kiswire group that the Luxembourg government chose to appoint Honorary Consul of Luxembourg in Busan.
In November 2022, Luxembourg's Minister of Foreign and European Affairs, Jean Asselborn, announced the opening of the first Luxembourg resident embassy in South Korea.
Based in Brussels, the Ambassador of the Republic of Korea to Luxembourg is Soongu Yoon.
On 1 January 2023, a total of 195 South Korean nationals were registered in Luxembourg, compared to 85 in 2012. The number of Luxembourgers in Seoul remains limited.
Trade Links
Trade in goods with Korea increased from €82 million in 2020 to €134 million in 2022, due to the economic recovery after the first containment of the COVID-19 pandemic. The trade balance is in surplus (€86 million exported against €48 million imported in 2022). As for trade in services, it is still relatively low considering the advanced level of development of South Korea. In 2022, it reached €341 million (compared to €299 million in 2021 and €336 million in 2015), largely financial services.
Today, around ten Luxembourg companies are directly or indirectly active in South Korea, namely: ArcelorMittal, Paul Wurth, IEE (R&D Centre in Seoul), Secalt, Genii Capital, Jan de Nul, Chemservice Asia, Ocsial, Waagner Biro, Ceratizit and Rotarex, which opened its first factory in Korea during the trade mission in November 2022, aiming in particular to produce valves for industry semiconductors. Cargolux serves Seoul.
Several Korean companies are established in Luxembourg, including Samwha Steel and Doosan Solus (Circuit Foil based in Wiltz), Hyosung (which bought part of Goodyear), Kiswire International (steel), DH Lighting (lighthouse), Contec (space), the servers of online gaming companies Mgame, EstSoft and Vertigo Games, Kores Lux (holding), LG Fashion Europe (holding), Kappa Korea (holding), Doosan Heavy Industries European Holdings and FILA Luxembourg (sportswear).
Luxembourg - South Korea Visits
Luxembourg's Minister of Finance, Yuriko Backes, was in Seoul earlier this year, in February.
Last November, the Hereditary Grand Duke and the Minister of the Economy, Franz Fayot, led a trade mission and celebrated 60 years of diplomatic relations between the two countries.
Pre-COVID, South Korea's Minister for Veteran Affairs, Park Sam-Duck, visited the Grand Duchy in October 2019, with Etienne Schneider, Luxembourg's Minister of the Economy at the time, visiting South Korea in July that year.
In July 2018, Prime Minister Xavier Bettel visited South Korea, with the Grand Duke attending the Winter Olympics in Seoul earlier that year, in February.
