HelloFintech Center ChairmanYooshin Jung
A global network of financial information and communication technologies to the development of the large financial capital is being formed rapidly beyond the borders of power , such as mobile Internet and mobile banking are increasingly growing.
With the development of information technology that enables the formation of a global network and a rapid flow of significant finance capital, the power of internet, mobile, and finance that transcends national borders is increasingly growing. Accordingly, internet, mobile and financial transactions are surging in advanced countries as well as China, the world's largest market, causing acceleration in the growth of the fintech industry, which integrates finance and technology.
However, the Korean fintech industry, due to rigid regulations and a lack of mutual understanding between finance and IT, has failed to promote active cooperation and synergy between the two industries. The main factors that have hindered the cooperation of fintech companies were rigid regulations that are set to prevent risks in advance and conservative financial practices towards IT technology.
To react to such circumstances, the government made drastic regulatory measure improvements and established the Fintech Center to provide a channel for support and cooperation where fintech companies and the finance industry can discuss and work together. The main purpose of Fintech Center is to provide mentoring for fintech companies with unstable business models in order to help create a well-made revenue model with the help of finance professionals.
The center acts as an 'incubator' that helps build up a revenue model for pre-startups and an 'accelerator' which links advisory and lender for new startups. It will aid venture fintech companies to their commercialization stage by providing customized counseling and mentoring services that assist the entire process from evaluating marketability consulting, legal, administrative, patent, and funding issues.
It is hoped that your interest and support will bring about more discussions on the fintech industry and that meaningful products will be released through the Fintech Center.