NongHyup Bank Announces Recruitment for Participants in Metaverse-Based Fintech Hackathon

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 29th that it will hold a metaverse-based fintech hackathon competition in collaboration with the Ministry of Science and ICT, Korea Internet & Security Agency (KISA), and Fakeyes, and is recruiting online preliminary round participants until the 17th of next month.

This competition is themed "Developing fintech (or blockchain fintech) services in a metaverse environment" and will proceed in the order of online preliminary round → selection of teams for the final round → pre-education on the metaverse platform → hackathon final round → awards ceremony.

Participants are divided into student and general divisions, and anyone interested in metaverse and fintech can form a team of up to five members to participate. Applications can be submitted through the OnOffMix website and the announcement posted in KISA notices.

The online preliminary round evaluates the business feasibility and implementation possibility of the ideas based on the service plans submitted by the participating teams. The final round comprehensively evaluates the development completeness, business feasibility, expertise, and creativity in utilizing new technologies of the submitted items, selecting a total of 22 teams as award winners.

Award-winning teams will receive a total prize money of 41 million KRW, including the Minister of Science and ICT Award. The student division will be exempt from document screening when applying for employment at Nonghyup Bank, and the general division will receive priority support for residency at the NH Digital Innovation Campus and KISA Fintech Technology Support Center.

Nonghyup Bank and KISA plan to provide online pre-education and mentoring related to metaverse and fintech to participants to support the transformation of innovative ideas into concrete results.

Junhak Kwon, President of Nonghyup Bank, said, "We are holding this hackathon to discover innovative fintech service ideas applicable to the metaverse platform," and added, "We hope many talented individuals interested in the metaverse will participate."

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