Interview: ‘Lithuania is ready to be Korea's fastest gateway to Europe'
Lithuania is intensifying its efforts to deepen economic ties with South Korea, positioning itself both as a gateway to European markets and as a partner in advanced industries ranging from high-tech innovation to clean energy.
In an exclusive interview with The Korea Herald, Lithuanian Vice Minister of Economy and Innovation Marius Stasiukaitis outlined a strategic vision for bilateral cooperation focused on innovation-driven industries and streamlined investment processes.
'Korea and Lithuania share many parallels,' Stasiukaitis said. 'We're both relatively small nations that value democracy, technological advancement and resilience. These shared values form a solid foundation for a long-term partnership.'
Central to Lithuania's pitch is its 'investment highway' -- a government-led initiative designed to significantly reduce red tape for foreign businesses seeking a European foothold.
'Large-scale investments, especially in sectors like defense, semiconductors and data centers, can expect regulatory timelines up to ten times faster than the European average,' Stasiukaitis said, emphasizing the country's ambition to become the fastest entry point into Europe, with incentives such as zero corporate tax for up to 20 years.
'Lithuania is not just offering incentives -- we're building an ecosystem,' he added. 'Our talent pool, regulatory flexibility and innovation infrastructure make us an ideal launch pad for Korean firms looking to expand across Europe.'
He identified five key sectors where Korea and Lithuania have the greatest potential for collaboration: lasers, life sciences, clean technologies, financial technologies and the space industry.
Lithuania is already a global leader in laser technology, with over 90 percent of its laser exports serving top-tier research institutions. However, the focus is now shifting toward industrial applications, where Korea's prowess in semiconductors, electronics and biotechnology offers a natural complement.
'We see enormous potential for collaboration in transitioning our laser technologies into high-impact industrial uses. Korean firms are leaders in those sectors and are ideal partners for joint innovation,' he said.
In life sciences, Lithuania aims to generate 5 percent of its GDP from the sector and is already collaborating with its Korean counterparts to establish a co-funded research and development fund. On the fintech front, Lithuania leads the EU in per-capita fintech licensing, with Korean startups already engaged with the Lithuanian central bank to enter the European market.
Lithuania is also betting big on clean technologies. The country has committed to producing 100 percent of its electricity from renewable sources by 2028. 'We're working with companies like SK E&S on LNG infrastructure, carbon capture and hydrogen projects. There's a strong appetite for joint development,' the vice minister noted.
Despite its modest population of just 3 million people, Lithuania boasts one of the fastest-growing startup ecosystems in Europe, with the highest per-capita unicorn count in the EU, according to Stasiukaitis. Companies such as Vinted and NordVPN exemplify the country's entrepreneurial momentum.
'Korean startups looking to expand into Europe will find Lithuania to be fertile ground,' he said. 'Our government provides one of the most innovation-friendly environments in Europe, from regulatory sandboxes to generous R&D grants.'
Still, the vice minister admitted that Korea-Lithuania cooperation is in the early stages. 'We need more high-profile success stories -- big-name Korean firms investing in Lithuania or joint R&D breakthroughs that show the world what's possible,' he said.
Asked whether cultural or labor-related challenges might hinder Korean firms entering Lithuania, he dismissed the concern. 'What surprises many is how similar our work culture and priorities are,' the vice minister said. 'We both emphasize engineering excellence, long-term vision and technological leadership.'
While Lithuania may not yet be a household name for Korean companies, Stasiukaitis is confident that the value fit is strong. 'Lithuania has already become a known investment destination for global leaders like Continental and Rheinmetall. Now it's Korea's turn to discover the opportunities here.'
With embassies now established in both countries and bilateral interest growing in strategic sectors, the stage appears set for a deeper, more resilient partnership. 'Our message to Korean companies is simple,' he concluded. 'Lithuania is open, ready and eager to grow with you.'
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