This Year's Fintech Support Budget 19.8 Billion Won... Doubled Compared to Last Year
[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission announced on the 14th that this year's fintech (financial technology) support budget has been finalized at 19.8 billion KRW, nearly double that of last year.
The FSC plans to allocate 9.6 billion KRW for operating and supporting participation in the fintech testbed, 1.6 billion KRW for customized growth support programs, and 1.7 billion KRW for the national participation global fintech expo. Additionally, 700 million KRW will be provided for fintech security support, and 200 million KRW for strengthening international cooperation and research on global fintech trends.
Budgets will also be spent on supporting fintech overseas expansion (800 million KRW), fintech job matching support (200 million KRW), financial cloud support (3.4 billion KRW), and training fintech professionals (1.4 billion KRW).
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The FSC explained, "To more actively support the scale-up of fintech companies, we newly allocated budgets for fintech overseas expansion, job matching, financial cloud, and fintech professional training, and significantly expanded budgets for operating and supporting participation in the testbed, customized growth support programs, and national participation fintech events."
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