News article

London’s Lord Mayor visits Republic of Korea to build financial ties

Lord Mayor in Korea to show the UK is still open for business and promote Fintech, Finance and Marine

Between 16-20 July the Lord Mayor of the City of London, Jeffrey Mountevans, will lead a business delegation to the Republic of Korea. The aim of the visit is to sell the City of London and the UK as the regional partner of choice when it comes to financial and professional services and strengthen UK-Korea relations in these sectors.

Key events during the visit include: Meeting Finance Minister/Deputy Prime Minister Yoo Il-ho; Attending the Launch Ceremony at the DDP for UK Fintech company ‘xNTree’; Touring the facility at Samsung Heavy Industries on Geoje Island; Roundtable with key UK-Korean companies at the Busan International Finance Centre; Award of an Honorary Degree at Korea Maritime and Ocean University in Busan.

Speaking ahead of his trip, Lord Mayor Jeffrey Mountevans said:

The world’s attention has been very much on the UK since we voted to leave the EU. I want to reassure the government and businesses of the Republic of Korea that the UK remains open for businesses. As well as being the leading financial centre in the world, we are also the number one country for foreign direct investment into Europe – the government, UK firms and I will do all we can to ensure that we maintain this position. This visit is about building closer economic and commercial ties with Korea and how we want to be the regional partner of choice.

Background/Notes to Editors

The Lord Mayor acts as ambassador for the UK’s financial and professional services, and will be meeting with senior members of the government, investment authorities, regulators and business leaders. Other notable events he will take part in include:

  • Visit to FLNG Platform, SHI shipyard, Goeje
  • Meeting with Vice Mayor of Busan
  • Honorary Degree Ceremony, Korea Maritime Ocean University
  • UK-Korea Roundtable, Busan
  • Dinner with Rep Choi Kyung-hwan (former DPM/Finance Minister)
  • British Chamber of Commerce Breakfast
  • Call on Vice Minister of Justice
  • Call on Finance Minister
  • Call on Vice Chair of FSC
  • Launch of xNTree
  • Green Finance Speech – Seoul Finance Forum
  • Opening of British Chamber’s new office
  • Lunch with National Assembly National Policy Committee members

About the Lord Mayor of the City of London

  • The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year).

  • The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister.

  • The Lord Mayor meets several international Heads of Government and Business each month to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor lives in the Mansion House for the Mayoral year.