Luxembourg is looking for investment from Korean tech companies interested in the European online game market . “ In the past , Luxembourg was known as a financial center , but now it ’ s turning more and more into an ICT ( information , communication and technology ) center , ” said Romain Fouarge , information communications and technology director for Korea and Japan at the Luxembourg Ministry of Economy and Foreign Trade . Online gaming has become big business due to the combined growth of console , PC and portable gaming , according to market researcher DFC Intelligence . Luxembourg has heavily invested in their communication networks to meet growing demand in the online gaming sector . Fouarge stressed that companies had set up operations in Luxembourg due to its central location and its incentives such as low tax rates and state - of - the - art infrastructure . Korean company Nexon , which specializes in online games , has chosen Luxembourg to manage the operational activities for development , marketing and public relations for the European market . “ The gaming industry is developing fast , requiring more energy and bandwidth so that ’ s why we are preparing for the next generation , ” said Peter Sodermans , senior consultant at Luxembourg for Business . The next generation will see download speeds of 1 gigabyte per second and upload speeds of 500 megabyte per second , he added . “ A lot of brands have chosen Luxembourg in the last couple of years for their European operations , such as iTunes , Amazon , Skype and Real Player , ” Sodermans said . Other incentives include a value added tax rate of 15 percent , the second - lowest in the region after Switzerland , and an intellectual property tax benefit of 80 percent . “ We are the place for distribution of the product , we ’ ve been doing this since the 1930 s ; it was radio then , now it ’ s the internet , ” Fouarge said . By Yoav Cerralbo ( yoav @ heraldm . com )