Woori Bank Hosts 'Ontact Hackathon'... Full Support for Startup Processes

The First Step of 'Project Blue Hour'... From Technology Development to Startup and Investment
Kwon Kwang-seok, Bank President: "We Will Grow into a Unicorn and Become a Reliable Digital Financial Partner"

[Asia Economy Reporter Kwangho Lee] Woori Bank announced on the 25th that it will hold the 'Woori Bank Ontact Hackathon' competition, the first step of the growth program for prospective startup founders, 'Project Blue Hour,' from April 30 to May 3.

Project Blue Hour refers to the dawn time just before the sun rises and the world sees the light, symbolizing unfinished startups that have not yet seen the light or becoming the light of the world through Woori Bank's Blue Hour by leading innovation with technology. It is a new type of startup support project that supports the entire process from the idea stage before founding to growth into a unicorn company, including technology development, startup, and investment.

While existing support projects focused on idea discovery, rewards, and space provision, Project Blue Hour is structured in a unique format where prospective founders are hired as bank employees and given the opportunity to directly utilize the bank's internal systems to validate their ideas.

The first step, the hackathon, a compound word of hacking and marathon, is a competition where people from various fields form teams and develop programs within a set time and place like a marathon. The theme of this competition is "Innovative Services Leading Digital Finance," and participants will develop various services using Woori Bank's Application Programming Interface (API) and Amazon Web Services (AWS) artificial intelligence (AI) technologies. Related education will also be provided online to help participants' ideas lead to concrete results.

After the competition evaluation, a total of 10 teams will be selected and awarded a total prize of 20 million KRW, and as a special benefit, all winners will be exempted from the document screening process when applying for a job at Woori Bank.

This competition will be conducted in an ontact format to prevent COVID-19 infection, and the document submission period is from the 26th to the 18th of next month. Detailed information can be found on Woori Bank's website and On-Off Mix.

Kwon Kwang-seok, CEO of Woori Bank, said, "Through Woori Bank's Project Blue Hour, we will actively support becoming a reliable digital finance partner until they grow into unicorns."

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