KB Financial and Seoul City Sign Business Agreement to Foster Fintech Development

Actively Collaborating to Support Startup Business Expansion and Overseas Entry
to Revitalize the Fintech Ecosystem

[Asia Economy Reporter Park Sun-mi] KB Financial Group announced on the 17th that it has signed a 'Business Agreement to Support Fintech Companies' with the Seoul Metropolitan Government to promote the growth and activation of fintech startups.

KB Financial and the Seoul Metropolitan Government have agreed to efficiently discover and nurture outstanding fintech companies based on the synergy of public-private network collaboration. To this end, the startup support centers of both organizations, 'KB Innovation Hub' and 'Seoul Fintech Lab,' will support active exchange and collaboration among the excellent startups they possess, participate together in overseas expansion programs, and actively cooperate to revitalize the fintech company ecosystem. Office space for KB Innovation Hub and startups will also be provided within the 'Seoul Fintech Lab.'

A KB Financial official explained, "Through this agreement, the combination of KB Financial's know-how in business support and Seoul's abundant domestic and international networks will provide practical business expansion opportunities and investment attraction support for outstanding fintech companies."

Meanwhile, as of the end of November, the number of startups challenging to create innovative services together with KB Financial, called 'KB Starters,' totals 111 companies. The cumulative business partnerships with KB Financial amount to 167 cases, and the cumulative investment by KB Financial reaches 50.9 billion KRW.

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