Lee Okwon: "Financial AX Is an Unavoidable Task... Fintech Support System to Be Revamped"

Chairman Lee Attends 'Fintech, Platform for Connections' Event
Intensive Support for Fintech in Regional, Youth Startups, and AX Sectors

The Financial Services Commission will overhaul its fintech support system to focus on nurturing fintech companies in the areas of regional and youth entrepreneurship, as well as in artificial intelligence transformation (AX).

Lee Eogwon, Chairman of the Financial Services Commission, is taking a commemorative photo with fintech representatives at the "Fintech, the Place of Connection" event held on April 29, 2026, at Front One in Mapo-gu, Seoul. Photo by Yoon Dongjoo

Lee Eogwon, Chairman of the Financial Services Commission, attended the 'Fintech, the Ground of Connection' event held in Mapo, Seoul on April 29 and stated, "The advancement of AI technology is not only accelerating the pace of change but also fundamentally restructuring how finance operates, putting us once again at a major turning point." The event was attended by fintech companies, prospective entrepreneurs, financial institutions, investment firms, and policy finance institutions.

He emphasized, "Financial AX is no longer an issue that can be delayed," adding, "Fintech, which has driven change in the financial sector through innovation and challenge, must now become the core engine in the AX era."

To respond to these changes, the Financial Services Commission plans to shift away from its uniform support approach and move toward a tailored support system that targets key areas such as AI, data, regional development, and youth. In addition, the commission will overhaul regulations that hinder the development of innovative services by improving systems for the new financial environment, such as stablecoins, and by gradually easing restrictions on data utilization.

First, regional and youth entrepreneurship, as well as AX, will be designated as priority areas for concentrated support. Incentives such as additional points in the selection process, allocation of support budgets, and extra assistance for outstanding companies will be provided to those chosen in these strategic fields. Furthermore, to help companies achieve real growth, support for AI technologies such as graphic processing units (GPUs) and overseas collaboration programs with local companies will be strengthened.

The commission will also establish a cooperative governance system among relevant agencies to enhance the efficiency of the fintech ecosystem. Public-private consultative bodies will be formed by region, involving financial companies, local governments, and startup organizations, to develop fintech models linked to local core industries and to promote differentiated startup and growth support.

Additionally, a system will be set up to consolidate and centrally manage previously scattered fintech support information. The Financial Services Commission’s fintech support, financial companies’ fintech lab programs, policy finance institutions’ funding, and local government startup assistance will all be provided through a single contact point to improve convenience.

Chairman Lee stated, "Innovation often begins with the connection of different ideas and people," adding, "We will continue to provide support so that financial institutions and investors can back the relentless challenges of fintech companies."

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