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Fintech Center Opens New Seoul Branch and Expands Support for Fintech …


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Writer 최고관리자 Day17-08-23 13:40 View1,038


Fintech Center Opens New Seoul Branch and Expands Support for Fintech Enterprises


Fintech Center's Seoul Branch established in Seoul Startup Hub, the Seoul Metropolitan Government's institution for startup promotion.

Fintech Center providing a cone-stop service from idea evaluation and general administration to consultation on legal and patent-related matters to enhance convenience for fintech enterprises located in Seoul.

SMG plans to expand the ecosystem for fintech startups by establishing a fintech-exclusive business promotion hub.


 ○ ‘Fintech Center,’ a fintech supporting organization established by the council of financial institutions including the Financial Services Commission, will be opening a new branch in Seoul Startup Hub, the City’s institution for startup promotion, and begin providing services to fintech startups located in Seoul from June 21st (Wed). 

○ Previously, many fintech enterprises had experienced difficulties consulting with Fintech Center due to its geographical and psychological distance, as the Center was located in Pangyo Techno Valley, Gyeonggi-do, while more than 80% of Korean fintech enterprises are located in Seoul.

※ Number of fintech enterprises in different regions : 141 in Seoul(83%), 19 in Gyeonggi-do(11%), 10(6%) in other regions (Based on members of Korea Fintech Industry Association as of May 2017)​

The Seoul Metropolitan Government had been asking Fintech Support Council to establish a new branch in Seoul, and the council decided to open this branch in Seoul Startup Hub’s Main Building, with the opening of the hub.

※Fintech Support Council : Korea Federaltion of Bank,  Korea Financial Investment Association, Korea Life Insurance Association, General Insurance Association of Korea, The Credit Finance Association of Korea, Credit Information Companies Association, Korea Exchange, Korea Securities Depository, KOSCOM, Korea Telecommunications and Clearings Institute, Financial Security Institute (11 members)

○ The ‘Fintech Center’ Seoul Branch (Exclusive Use Area 131) includes a counselling room, fintech business training hall, and a promotion hall. The branch provides customized counseling and mentoring on various subjects, from assessing the viability of the commercialization of a new idea, to patents, legal matters, general administration, and financing.

“The opening of the ‘Fintech Center’ Seoul Branch will help fintech enterprises establish a business model and create jobs, as fintech enterprises located in Seoul will be able to access the services of the Center more easily,” exclaimed Dong-rok Suh, Head of Economic Planning Headquarters, Seoul Metropolitan Government. “Seoul will also be establishing a city-run fintech-exclusive business promotion hub in the near future to contribute to the expansion of the ecosystem for fintech startups.”

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