Korea Fintech Industry Association Holds Overseas Expansion Council Inauguration Seminar

"Full-Scale Support for Korean Fintech Companies Entering Global Markets"

The Korea Fintech Industry Association announced on December 11 that it held the inauguration ceremony and seminar for the Overseas Expansion Council at D.CAMP Mapo in Mapo-gu, Seoul, on December 10.

Participants of the Overseas Expansion Council inauguration ceremony and seminar hosted by the Korea Fintech Industry Association on the 10th at D.CAMP Mapo in Mapo-gu, Seoul, are taking a commemorative photo. Korea Fintech Industry Association

The council was established to create an industry consultation channel for sharing information and discussing support measures, reflecting the needs of domestic fintech companies aiming to expand their business overseas.

During the inauguration ceremony, participating companies were introduced, providing networking opportunities, and a presentation session was held to discuss strategies and case studies for fintech companies preparing to enter overseas markets. The council also shared its operational plans for the coming year.

In the first presentation, Jun Wooyoung, Partner at PwC Consulting, delivered a talk on "Proposed Strategies for Overseas Expansion of Fintech Companies."

Partner Jun stated, "Financial institutions often only consider traditional overseas expansion methods, such as establishing physical offices or subsidiaries, or pursuing broad global strategies," adding, "I would like to present a new framework for fintech companies to expand into overseas markets, consisting of the steps: exploring potential, entry, and securing a foothold."

In the second presentation, Noh Taejin, Chief Financial Officer (CFO) of Uppit, spoke on "Successful Overseas Expansion Cases of Fintech Companies."

CFO Noh shared Uppit's experience entering the Indian market. He emphasized, "It is most important to accurately understand the financial environment and service usage patterns of local users," and continued, "If our fintech companies meticulously adjust their service operations and product structures to meet local needs and establish a solid partnership foundation, they can be sufficiently competitive in overseas markets."

Next year, the council plans to establish and operate communication channels related to overseas expansion, hold regular meetings, build a global fintech network, and promote partnership-linked projects.

The council also plans to expand overseas exchange opportunities for its member companies by participating in regular webinars organized by the Asia Fintech Alliance (AFA) and signing Memorandums of Understanding (MOUs) with global fintech institutions.

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