[Asia Economy Reporter Hyunseok Yoo] Techfin company SettleBank announced on the 20th that it received the Minister of SMEs and Startups Award at the ‘2021 Venture Startup Promotion Commendation Ceremony.’
The ‘Venture Startup Promotion Commendation’ is an event hosted annually by the Ministry of SMEs and Startups since 1999, now in its 23rd year, to discover and encourage outstanding venture and startup companies driving innovative growth.
SettleBank was recognized for its excellent payment technology and future growth potential, receiving the Minister’s Commendation in the ‘Venture Company’ category. The award in this category is given to venture companies with outstanding innovation capabilities in technology and management, excellent external competitiveness, and high corporate ethics and social contribution.
SettleBank provides various electronic financial and payment platforms to leading domestic and international companies, including public institutions, e-commerce, and delivery platforms. It was selected as an award-winning company for its contribution to innovating the domestic cash payment market by launching the industry’s first account-based simple cash payment service.
Choi Jongwon, CEO of SettleBank, said, “We will continue to innovate in the payment field and strive to become a venture company that serves as a model for many startups within the fintech industry. In 2022, we will further expand new B2C businesses based on the proven technology and network capabilities in the B2B market.”
Meanwhile, at the 2021 Venture Startup Promotion Commendation, 49 companies from various industries, including SettleBank, Vuno, GS F Systems, Truen, and Fostec, received the Minister’s Award in the venture company category. In the venture support (individual) category, the Korea Technology Finance Corporation, Industrial Bank of Korea, and Woowa Brothers received the Minister’s Award.
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