Seoul City-Korea Exchange Sign Business Agreement to Support Listing of Outstanding Fintech Companies...Pre-Listing Stage Support

Discovering Outstanding Companies for Preliminary Diagnosis of Listing Potential, One-on-One Expert Consulting, and Educational Support

[Asia Economy Reporter Lim Cheol-young] On the 10th, Seoul City announced that it will operate a systematic listing support system together with the Korea Exchange, which is responsible for listing screening and approval, to enable fintech companies to go public on KOSDAQ.

Seoul City and the Korea Exchange aim to open the path for growth for fintech startups struggling with listing preparations due to lack of knowledge about procedures and methods. They support all stages from a "preliminary diagnosis" that assesses the possibility of listing, to one-on-one expert consulting, education, and investor relations meetings.

Accordingly, Seoul City will sign a "Seoul Metropolitan Government-Korea Exchange Business Agreement for Supporting the Listing of Excellent Fintech Companies" at the Seosomun 2nd Office Building's main conference room on the same day. Under the agreement, both institutions will cooperate in ▲discovering and nurturing excellent fintech companies ▲supporting preliminary listing diagnosis, education, and consulting to activate fintech company listings ▲supporting listing briefings and investor relations (IR) ▲exchanging and cooperating for the development of the fintech industry.

According to the agreement, Seoul City will identify outstanding fintech companies with listing potential among Seoul-based fintech companies, including those residing in Seoul Fintech Lab, and recommend them to the Korea Exchange. Additionally, the city will provide administrative support during listing briefings and investor relations (IR) events.

The Korea Exchange will utilize its expertise and networking to pre-assess the listing potential of innovative fintech startups. It will also support education on listing methods and preparation, as well as provide one-on-one customized expert consulting to assist with listings on the KOSDAQ market and others.

Meanwhile, Seoul City has established "Seoul Fintech Lab," the largest fintech startup nurturing institution and fintech industry hub in Yeouido, the financial center, providing systematic support such as education, mentoring, and investment IR for 100 fintech companies and over 1,000 financial innovators.

Hwang Bo-yeon, Director of Seoul City's Economic Policy Office, said, "As the non-face-to-face industry accelerates due to COVID-19 and Seoul's fintech innovative companies achieve remarkable growth, we will actively support promising fintech companies with advanced technologies to accelerate their growth through listing," adding, "Seoul City will continue to systematically build networks with various related organizations to foster an innovative fintech ecosystem."

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