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Seoul Financial Hub Gains the Stepping Stone for Its 2nd Growth Moment…

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Writer Invest Seoul Day17-09-01 13:53 View345

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Seoul Financial Hub Gains the Stepping Stone for Its 2nd Growth Momentum by Establishing Fintech Support Infrastructure

Seoul Metropolitan Government plans to establish "Seoul Fintech Lab", in order to establish competitive fintech ecosystem in the city and take lead in the 4th industrial revolution in the financial sector. The Lab is to be located in the annex building of Mapo Startup Hub which is currently undergoing remodelling, in which approximately 30 fintech startups varying in sizes and growth, are to move in after the maintenance and receive intensive fostering.

The City of Seoul also succeeded in hosting Fintech Center's Seoul Branch in Seoul Startup Hub's main building, which opened last July. Established by Fintech Support Council, which is led by the Financial Services Commission, the Center provides consultations for fintech startups regarding the regulatory and institutional issues caused during the processes of entrepreneurship. With its headquarters located in Pangyo. Gyeonggi-do, which is 25km away from the country's capital, many startups showed discontent on the inconvenient access to the service. In order to alleviate the inconveniences, the Center's Seoul Branch was established in Seoul.

Fintech Center's 132-wide Seoul branch is equipped with consultation rooms, fintech training hall, promotion hall, and testbed. The branch provides customized consultation and mentoring sessions for fintech startups, from the feasibility of commercialization to patent, legal matters, general administration, and financing.

 

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