In January 2019, a German delegation, headed by Dr. Lutz Raettig, President of Frankfurt Main Finance, traveled again to South Korea and Hong Kong
In Seoul, the delegation attended the FinTech & Blockchain Forum at Sogang University, at which Korean and German companies were presenting their business models. Moreover, the group met with Suk Heun Yoon, President of the Korean Financial Supervisory Service (FSS) to discuss Britain’s exit from the European Unit as well as the potential implications on European financial markets and the Financial Centre Frankfurt. Furthermore, the representatives of FMF informed about the World Alliance of International Financial Centres (WAIFC), of which the Korean financial centre Busan as well as FMF are founding members.
On the second day, the delegation took the KTX high-speed train to Busan – the second largest Korean city and partner of FMF. After a meeting with the Busan Economic Promotion Agency (BEPA), where Dr. Raettig was warmly welcomed by Chairman Dr. Ki Sik Park, the delegation went to the United Nations Memorial Cemetery, a memorial from the Korean War in the middle of Busan.
In Busan City Hall, Deputy Mayor Jae-soo Yoo welcomed the delegation. Mr. Yoo and Dr. Raettig emphasized the close collaboration between the two financial centres following the signing of the cooperation agreement in 2013, which will be further strengthened by the joint WAIFC membership.
Back in Seoul, the delegation met with Korean politicians, companies as well as with Prof. Sooyong Park, head of the Global FinTech Research Institute.
In Hong Kong, the delegation participated at the Asian Financial Forum (AFF) – titled Creating a Sustainable and Inclusive Future and held under the auspiece of the Government of the Hong Kong Special Administrative Region and Hong Kong Trade Development Council (HKTDC).
The stall of the International Financial Centre Frankfurt, jointly organised by FrankfurtRheinMain GmbH, Hessen Trade & Invest and Frankfurt Main Finance, attracted numerous visitors who were interested in Brexit related topics as well as Frankfurt’s thriving FinTech scene.
In her opening address, Carrie Lam, head of the Hong Kong government, highlighted the importance of Fintech and Blockchain for Hong Kong, with Blockchain technology allowing Hong Kong’s to further contribute to the Chinese One Belt, One Road (OBOR) initiative.
While the bank representatives of the delegation followed the interesting presentations, the Frankfurt-based FinTech company AsiaFundManagers presented itself to a number of potential investors at the so-called Deal Flow Matchmaking Session of the AFF. The two participating managing directors of AsiaFundManagers were very satisfied with the results of the talks during the final meeting with Dr. Raettig on the last day of the trip.