FS continues visit to Seoul, Korea (with photos/video)
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In the morning, Mr Chan attended and delivered a keynote speech at the Hong Kong-Korea Capital Markets Conference, organised by CSOP Asset Management. Conference participants included the Chairman of the Korea Financial Investment Association, Mr Seo Yoo-seok, as well as representatives from local pension funds, insurance companies, brokerage firms and other institutional investors and financial institutions.
In his speech, Mr Chan highlighted that Hong Kong's financial market has shown strong resilience over the past two years, with continued capital inflows, a robust stock market and a significant increase in bank deposits. Amid profound changes in the global political and economic environment, Hong Kong is regarded as a safe harbour for global capital, characterised by transparent, stable and predictable policies, and its efficient connectivity with China and other Asian markets.
He emphasised that China's technological innovation is advancing rapidly, with more leading-edge Mainland technology companies choosing to list in Hong Kong. International investors are sharing in the dividends of China's technology development through Hong Kong's capital market, presenting opportunities for Korean investors as well. At the same time, Hong Kong is actively enhancing mutual market access with the Mainland and strengthening ties with other financial markets. In the space of exchange-traded products, Hong Kong has attracted participants from around the world. He expressed hope for more reciprocal arrangements with Korea to further deepen co-operation in these areas. Mr Chan also shared Hong Kong's strategies and initiatives in developing digital assets, including licensing regimes for digital asset platforms and stablecoins.
At noon, Mr Chan attended the Korea–Hong Kong Business Luncheon, cohosted by the Hong Kong Economic and Trade Office (Tokyo) and the Korea Chamber of Commerce and Industry. The event was attended by over 150 leaders from the financial, commercial, trade, innovation and technology, and tourism sectors. Seoul's Deputy Mayor for Economy, Mr Joo Yong-tae, also attended.
At the luncheon, Mr Chan noted that Hong Kong's economy is steadily recovering after the pandemic, with visitor numbers continuing to increase. In the first half of this year alone, Hong Kong welcomed over half a million Korean visitors, a year-on-year growth of 25 per cent. He also highlighted the sustained confidence of international enterprises in Hong Kong, with the number of foreign and Mainland companies reaching a record high in 2024. The number of Korean companies grew by 9 per cent in particular. Hong Kong ranks among the top three in international financial centres and global competitiveness. Since the implementation of the Hong Kong National Security Law, the city has maintained a safe and stable environment, further strengthening international investors' confidence in doing business in Hong Kong.
Mr Chan also mentioned that Hong Kong serves as the international gateway to the Guangdong-Hong Kong-Macao Greater Bay Area, connecting to a consumer market of about 87 million people. The entire Greater Bay Area is developing into a region with both financial and innovation strengths. For Korean enterprises, Hong Kong's unique advantage of connecting with both the Mainland and the world can create new opportunities in finance, innovation and technology, digital economy, film and entertainment, and more. He welcomed Korean businesses to develop in Hong Kong.
In the afternoon, Mr Chan met with the Chairman of the Financial Services Commission, Mr Kim Byung-hwan, to exchange views on financial development and regulatory issues of mutual interest. He also held discussions with representatives from the Korea Venture Capital Association and the private equity sector to learn about Korea's industry ecosystem and asset allocation strategies, while introducing investment opportunities in Hong Kong across the stock market and the innovation and technology landscape.
Mr Chan will continue his visit to Seoul tomorrow (July 10) and return to Hong Kong in the evening.
Ends/Wednesday, July 9, 2025
Issued at HKT 19:23
Issued at HKT 19:23
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