Estonian Ambassador to Korea Sten Schwede and The Korea Herald CEO Choi Jin-young on Monday agreed to facilitate business and innovation in accelerating digital transformation.

The ambassador said Estonia is keen on solidifying digital innovation with Korea’s private sector and exploring future prospects.

Schwede said at least 2,000 Koreans have registered for Estonia’s e-Residency -- a government-issued digital identity and status that provides access to Estonia’s business environment -- so far, allowing them to open bank accounts in Estonia even without leaving Seoul.

“The residency doesn’t only facilitate to operate businesses in Estonia but the whole European market,” he said.

Discussing the role of digital innovation and the Fourth Industrial Revolution, the ambassador expressed a deep interest in partnering with The Korea Herald and to connect businesses, industry stakeholders and experts from the two countries.

“(The) first edition of Korea Herald was published when my father was born and the economic (business) edition of Herald came when I was born,” Schwede said.

Choi said The Korea Herald played a significant role in facilitating diplomatic, economic and cultural relations from 1953.

“The Korea Herald will continuously play an active role responding to the Fourth Industrial Revolution innovations such as blockchain, NFT, metaverse etc., and diversify cultural content including Hallyu content commemorating 70 years of establishment,” he said.

Choi applauded Estonia’s innovative efforts and direction in its digital ecosystem.

“It’s the right time for digital innovators and leading players such as LG, Samsung, Kakao and Naver to work with Estonia on joint projects,” said Choi.

”Estonia is a shining example of decentralization that improves people’s quality of life, make administrative systems swift and efficient,” said Choi.

According to Schwede, Estonia is to establish its embassy building this year in Seoul to accommodate high-level visits, and further solidify cooperation with Korea.

The ambassador said Estonia is committed to developing close ties with Korea, diversify the Estonia-Korea economic relations in the years to come and fortify relationship with The Korea Herald.

Echoing the ambassador’s views, Choi also extended an invitation to the Estonian Embassy to present at the third edition of Korea Herald’s Global Business Forum to be held in second half of 2022.

Estonian Ambassador to Korea Sten Schwede (right) and The Korea CEO Choi Jin-young pose for a photograph during a courtesy visit to the Herald Corp. headquarters in central Seoul on Monday. (Park Hae-mook/The Korea Herald)