SEOUL-- A senior U.S. Treasury Department official has met with leaders of South Korean fintech service industries.
Brian Nelson, the U.S. Treasury Department's under secretary for terrorism and financial intelligence, visited the Pangyo headquarters of internet-only lender KakaoBank Corp. on Tuesday, and met with KakaoBank CEO Yun Ho-young, Naver Financial Corp. CEO Park Sang-jin and Fintech Center Korea chief Byun Young-han.
"I met with FinTech leaders #KakaoBank, #Naver, and the Fintech Center Korea today in #Pangyo to learn about Korea's innovative tech and regulatory sandbox policy," Nelson tweeted on Tuesday.
Pangyo -- South Korea's answer to Silicon Valley -- is home to many technology companies, including KakaoBank and internet portal operator Naver.
Nelson visited KakaoBank and was briefed on South Korea's fintech industry and KakaoBank's overall business operations, a KakaoBank official said, without giving any further details.
Naver Financial said it pitched the vision and performance of its key fintech services, such as deferred payment services and business loan plans for its online vendors, or "smart stores."
On Monday, Nelson met with South Korea's top nuclear envoy, Kim Gunn. Nelson heads the Treasury's Office of Foreign Assets Control, which administers and enforces many U.S. sanctions programs.
Source: Yonhap News Agency