SEOUL, SOUTH KOREA, April 3, 2018 – Seoul will open the Seoul Fintech Lab, the first a professional institute to secure international competitiveness and support Fintech start-ups as a forward base for the Seoul Fintech industry.
27 Fintech start-up companies, selected to move into the lab, have concluded agreements with 33 partner organizations, April 3, which will offer systematic consulting services. The selected ones include 14 Fintech start-ups – 12 from Korea and 2 from overseas – and 13 pre-founders.
The Seoul Metropolitan Government has a plan to provide Fintech start-ups customized support programs according to their growth stage in order to grow them into future unicorn companies that will lead the fourth industrial revolution of Korean financial industry.
For instance, pre-founders will be offered information on how to build business models, and initial start-up companies will be given on how to commercialize their business models and how to advance into the world. Companies that are in the growth stage will focus on domestic and international IR and investment attraction.
Meanwhile, Seoul Fintech Lab will establish a Fintech test room, the first of kind in Korea, which is connected to the financial network, to help start-ups test their business models under the same conditions as the actual financial environment.