Luxembourg's prime minister is visiting South Korea for three days. Among other matters, mutual economic interests will be discussed.

With more than 51 million inhabitants, the Republic of South Korea has 100 times more residents that the Grand Duchy. More importantly, the East Asian country boasts the 11th largest economy in the world. Over the past 25 years, the country's economy has grown dramatically.

As Seungeun Park, an entrepreneur from Seoul, explained, the country abandoned traditional heavy industry to focus on the high-tech sector after the Second World War and the Korean War. This new direction gave birth to major companies such as LG, Samsung, and Hyundai, which still set the tone in the global market

Luxembourg and South Korea thus may well have common interests in cooperation. Xavier Bettel's visit, which begins this Sunday, will most likely shed light on questions of potential economic collaboration.