To help mark the 25th anniversary of Germany’s reunification, a 14-member South Korean delegation headed by Congressman Kim Jeong Hoon (pictured with Angela Merkel during the reception) visited the financial centre, Frankfurt. The delegation included leading FinTech companies like YAP Global, Finotek, Yello Finance Group and Datastreams corp. Frankfurt Main Finance organised an exchange at the offices of Frankfurt Economic Development between Frankfurt’s universities, Germany’s leading FinTech companies and the Maininkubator.
South Korea is the world leader in mobile payment among industrialized countries with a usage rate of 40%. With more than 60 million mobile payment users, Koreans are among the world’s fastest adaptors of FinTech.
Dr. Lutz Raettig, Chairman of the Executive Committee of Frankfurt Main Finance was impressed: “In this regard, Germany needs to catch up and we want to this to happen. On the other hand, in Frankfurt we have FinTech companies, like as 360T, which are unparalleled infrastructure providers. Korea and Germany complement each other well and we therefore hope to continue to work together even more closely.”
In December 2013, the financial centres Frankfurt and Busan signed a “Memorandum of Understanding” to mutually support and strengthen one another.