The Lord Mayor of the City of London, Dr Andrew Parmley, has today arrived in South Korea as the head of a delegation from the City of London. The Lord Mayor will look to strengthen the commercial ties between the UK and South Korea and promote Britain as one of the best places in which to invest and do business with.

In his two day visit to Seoul, the Lord Mayor will meet senior business representatives to explore opportunities for further cooperation on international trade, including specific opportunities for investors from South Korea. Other notable events will include:

• Meeting with the Deputy Finance Minister;
• Discussing international legal services with the Korean Bar Association;
• Updating South Korean-based financial services companies on the business climate as the UK prepares to start its negotiations with the European Union;
• Promoting the UK’s education and training offer, as well as advising on promoting developing industries such as fintech, and cyber.

Speaking ahead of his visit to South Korea, the Lord Mayor Andrew Parmley said:

“South Korea is a vital trade and investment partner for the UK. It ranks 22nd for UK total goods and services exports to the world in 2015 but we should be improving on this. My visit comes at an opportune time to show government and industry that the UK remains open for business.

“While in South Korea I will reiterate our commitment to deepening the long-standing links between the London and Seoul, and I will celebrate the strength bonds of economic co-operation that bind our nations. I am keen to explore new ways for us to work together across the financial and professional services industries.

“As the financial and commercial heart of both Britain and Europe, the City of London is a natural partner for South Korean investors and businesses that want to expand their global presence.

“It is no secret that our relationship with South Korea is more important than ever as we negotiate our departure from the European Union, but I believe that opportunities to collaborate will continue to emerge, benefitting both our economies, as well as driving wider global growth.”

Speaking ahead of the visit of the Lord Mayor, British Ambassador to South Korea, Charles Hay, said:

“I am excited about welcoming the Lord Mayor of London to Korea. The fact that this is the second visit by a Lord Mayor in less than 6 months shows the importance of Korea to the City of London and the UK. His visit will be an excellent opportunity to forge even deeper economic ties between South Korea-UK, in particular ties with the City of London in key sectors such as finance, legal and education, and setting us up for a bright trading future.”

Ends

NOTES TO EDITORS

1. Media enquiriesIan Schofield, Media Officer, City of London CorporationT 020 7332 1906 / M 07725 634564E ian.schofield@cityoflondon.gov.uk
2. 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.
• On average, the Lord Mayor will meet one head of state a month and will meet a prime minister or finance minister each week to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor, who is unpaid, lives in the Mansion House for the Mayoral year.
• More information on the Lord Mayor can be found here.
  3. About the City of London Corporation

• The City of London Corporation is a uniquely diverse organisation. It supports and promotes the City as the world leader in international finance and business services and provides local services and policing for those working in, living in and visiting the Square Mile. It also provides valued services to London and the nation. For more details, visit www.cityoflondon.gov.uk and