S. Korea’s fintech firms seek to tap into China

South Korea made a pitch Thursday for its financial technology, or fintech, in China under the government's campaign to support related startups here seeking to do business abroad.

The state-funded Fintech Center held the "Fintech Demo Day in Beijing" event, joined by five South Korean firms and potential business partners in China, said the Financial Services Commission (FSC).

The companies showcased robo-adviser, mobile wallet, biometric identification and other advanced services, followed by one-on-one consultation sessions.

It was held in connection with the two-day "K-Global China" hosted by the Ministry of Science, ICT and Future Planning.

The Fintech Center also signed a memorandum of understanding (MOU) with the operator of Chengdu City's high-tech industrial zone on fostering partnerships.

With the signing of the MOU, the FSC said, a "bridgehead" has been established for full-scale cooperation with China in the fintech field.

Earlier, South Korea held fintech demo day events in Singapore, Cambodia, London and Silicon Valley.

"The Beijing event marked the last of this year's program," the FSC said. "(The government) plan to continue such fintech demo day events in 2017."

Source: Yonhap News Agency

You may also like...