KB Financial Group and SBA Begin Full-Scale Mutual Cooperation to Foster Global Startups

Signing of MOU for Startup Global Expansion and Investment Attraction Cooperation

On the 19th, after signing the agreement at the KB Innovation Hub Center, KB Financial Group KB Innovation Hub Director Gochangyoung (right) and Seoul Business Agency Invest Seoul Center Director Jeong Jaewook (left) are taking a commemorative photo.

[Asia Economy Reporter Sunmi Park] KB Financial Group announced on the 21st that it has signed a business agreement with the Seoul Business Agency (SBA) to cooperate on startup global expansion and investment attraction.

Through this agreement, KB Financial Group's fintech lab, 'KB Innovation Hub,' and the 'Invest Seoul Center,' a startup investment attraction support organization under the Seoul Business Agency, plan to actively collaborate to support startups' global expansion and investment attraction by utilizing networks of related organizations such as KOTRA to assist promising startups in the fintech and ICT sectors with participation in overseas investor relations (IR) events and exhibitions.

As the first step of mutual cooperation, a Global Challengers competition will be held on the 22nd of this month, featuring 10 promising startups aiming for overseas expansion.

All participating startups will be connected with collaboration opportunities with KB Financial Group and provided with chances to participate in various overseas investment attraction programs of both organizations to support continuous scale-up. Additionally, three companies selected as outstanding through the evaluation will receive a total of 20 million KRW in commercialization support funds.

A KB Financial Group official stated, “The combination of KB Financial Group’s know-how in commercialization support and the Seoul Business Agency’s extensive global network will provide a stepping stone for companies seeking overseas business expansion and investment attraction,” adding, “Going forward, KB Financial will continue to expand various programs to support startup growth, in line with the group mission of ‘Finance that Changes the World.’”

This content was produced with the assistance of AI translation services.