In January 2019, a German delegation, headed by Dr. Lutz Raettig, President of Frankfurt Main Finance, traveled 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 for European financial markets and the Financial Centre Frankfurt. Furthermore, the World Alliance of International Financial Centres (WAIFC) was discussed with representatives of the city council – a global strategic alliance of which both the Korean financial centre Busan and 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 meeting with the Busan Economic Promotion Agency (BEPA) and a warm welcome by Chairman Dr. Ki Sik Park, the delegation went to the United Nations Memorial Cemetery – a burial ground honoring United Nations Command soldiers who fell in the Korean War (1950-1953).
Thereafter, the delegation was welcomed at the Busan city hall by Jae-soo Yoo, Deputy Mayor. 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 many visitors who were interested in Brexit related topics as well as Frankfurt’s thriving FinTech scene.
In her opening address, Carrie Lam, Chief Executive of Hong Kong Special Administrative Region of the People’s Republic of China, highlighted the success of FinTech in Hong Kong. Moreover, she emphasized how important the Greater Bay Area initiative, implemented by the Guangdong province, Macao and Hong Kong, are to the government of Hong Kong.
While the members of the delegation with a background in the banking sector listened to 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. At the final meeting with Dr. Raettig on the last day of the trip, the two participating managing directors of AsiaFundManagers voiced their satisfaction with the results of the talks.