Chairman Kim Byunghwan Discusses Fintech Cooperation with Lithuanian Finance Minister

"Request for Interest in Korean Fintech's Entry into the European Market"

Financial Services Commission Chairman Kim Byung-hwan met with Gintare Skaiste, Lithuania's Minister of Finance, on the 27th to discuss ways to strengthen financial cooperation between the two countries, focusing on the fintech (finance + technology) sector.

Chairman Kim held a meeting with Minister Skaiste at the 'Korea Fintech Week 2024' held at Dongdaemun Design Plaza (DDP) in Jung-gu, Seoul, that morning. Minister Skaiste visited Korea for this event and delivered a congratulatory speech at the opening ceremony.

On the morning of the 27th, Kim Byung-hwan, Chairman of the Financial Services Commission, held a meeting with Gintare Skyste, Minister of Finance of Lithuania, at Dongdaemun Design Plaza in Jung-gu, Seoul, to discuss ways to strengthen financial cooperation focusing on the fintech (finance + technology) sector.
[Image provided by the Financial Services Commission]

Chairman Kim shared the financial market and industry trends of both countries with Minister Skaiste and highly evaluated Lithuania's fintech ecosystem. According to the global research firm Findexable, as of 2021, Lithuania ranked 10th and Korea 26th in the global fintech index.

In particular, he urged attention to help Korean fintech companies smoothly enter the European market by using Lithuania, which has strengths such as rapid licensing procedures, as a base.

Minister Skaiste responded, "I understand that Korea has created a favorable environment for the launch of innovative services thanks to institutional improvements such as the financial regulatory sandbox," adding, "I hope to closely cooperate so that the fintech industries of both countries can grow together through sharing fintech policies."

This content was produced with the assistance of AI translation services.