The Estonian president, Alar Karis, opened the Estonian embassy and business hub in Seoul, South Korea, on 11 October.
“As Northern Europe’s hub for knowledge and digital business, we are the gateway for the Koreans to Europe and the European Union market. I am delighted to open the Estonian embassy and business hub in Seoul to further strengthen our cooperation,” Karis said.
“The road to success across the whole gigantic area between the Baltic Sea and the Pacific Ocean lies in our resolute contribution to stability and security. Estonia and Korea, while distant geographically are very close in mindset. We have excellent relations. We share the same values – a rule-based international order, where each country has a right to determine its path,” he noted.
Karis said the embassy and business hub aimed to enhance bilateral relations, support the entry of Estonian companies into the South Korean market, introduce Koreans to the Estonian economic environment, digital and cyber success stories, and Estonia as a favourable investment destination in Europe.
Nearly 2,000 South Korean e-residents
The president emphasised that there was substantial potential in the economic cooperation of bilateral relations between Estonia and South Korea. As a prime example of business diplomacy, he highlighted a €30 million investment agreement signed on 11 October between Estonian company Elcogen and South Korean conglomerate HD Hyundai for the development of hydrogen technology.
The Estonian head of state pointed out that, in addition to Estonian companies, Estonia’s public sector is also innovative. He noted that in Estonian society, 99 per cent of government services are digitised, and encouraged South Korean entrepreneurs to explore the opportunities offered by Estonia’s e-residency.
Nearly 2,000 people from South Korea have already tried out the opportunity to use Estonia’s digital services, with 200 of them also having established their company in Estonia.
The opening event was also attended by South Korean interior minister Lee Sang-min, who visited Estonia in September. The invitees also included members of the South Korean National Assembly, entrepreneurs, officials and the diplomatic corps.