Vice-Minister of Finance J. Kizenevič: “South Korean financial service providers are welcome in Lithuania”
On a visit to South Korea, Vice-Minister of Finance Januš Kizenevič presented the regulatory and investment environment in Lithuania at meetings with representatives of the country's banking and financial technology sector and invited them to expand their activities in our country.
“Lithuania offers a stable, growing, and favourable environment for the business and financial sectors, while strong digital infrastructure, a competitive tax system, and access to the EU Single Market are opportunities that South Korean companies and banks can leverage. The arrival of Korean financial services companies in Lithuania would strengthen the growing mutual economic partnership and, at the same time, allow the expansion of activities across the EU area," J. Kizenevič states.
During the meeting with representatives of the Korean Banking Federation and commercial banks, the Vice-Minister presented the Lithuanian banking sector, inquired about what types of financial services or business model would be the most attractive for Koreans to establish themselves in Lithuania.
Meetings with representatives of the Korean Fintech sector focused on how innovative financial service companies can expand their operations into other EU countries and which measures best contribute to successful business expansion.
“The growing, stable Lithuanian economy, rapidly expanding defence, energy and technology sectors create opportunities for the development of financial institutions in our country. New market entrants can create more competition in the Lithuanian financial sector", J. Kizenevič emphasizes.
According to the Vice-Minister, Lithuania's responsible approach to risk management and financial stability, rapid decision-making and a business-friendly environment are the main reasons for the successful development of Korean banks across the European Union.
The Lithuanian banking sector is one of the most concentrated in the EU: the three largest banks hold more than 78% of the market in terms of assets. The sector is financially strong and profitable, with record results since 2022, and capital and liquidity ratios well above regulatory requirements.
During his visit to Seoul, J. Kizenevič and the Vice-Minister of the Korean Ministry of Finance and Economy discussed potential bilateral cooperation in the field of reconstruction of Ukraine, the promotion of economic competitiveness and the latest economic trends. The Vice-Minister also participated in the World Knowledge Forum, where he presented Lithuania’s investment environment.
Last updated: 08-09-2026
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