"Fostering Fintech Innovative Technology Companies"… Fintech Association Partners with WooriFIS and Others

Consultation on Multilateral Support for Finance, Security, and Investment

From the left, Lee Geun-ju, President of the Korea Fintech Industry Association, Ko Jeong-hyun, CEO of Woori FIS, Kim Cheol-woong, President of the Financial Security Institute, Park Hyun-chul, Chairman of DSN Holdings (Provided by Korea Fintech Industry Association)

[Asia Economy Reporter Minwoo Lee] The Korea Fintech Industry Association has partnered with Woori FIS, a subsidiary of Woori Financial Group, the Financial Security Institute, and DSN Holdings. They plan to support various consulting and investments to foster fintech innovation technology companies.

On the 29th, the Fintech Association announced that it signed a multilateral business agreement with Woori FIS, the Financial Security Institute, and DSN Holdings at Seoul Fintech Lab in Yeouido, Yeongdeungpo-gu, Seoul the previous day.

The purpose is to discover fintech companies with innovative technologies in the digital finance sector and nurture them as core companies leading the Fourth Industrial Revolution era through various consulting and investment activations.

Accordingly, Woori Financial Group (Woori FIS) will provide various technical support, partnerships, and consulting to help startups with innovative technologies sustain growth, and will play a role in linking financial transactions to enable the creation of joint venture companies in the future.

The Financial Security Institute will provide advisory support to strengthen financial security capabilities that startups may easily overlook. DSN Holdings will offer fintech fund formation, direct investment, and investment advisory through its subsidiaries DS Networks Asset Management and DSN Investment.

The Fintech Association expects that through this, fintech startups will be able to fully prepare even in technical and security areas that are difficult to meticulously prepare. Lee Geun-joo, chairman of the Fintech Association, said, "Advanced technology, strengthened security capabilities, and appropriate investment connections are essential elements for fintech startups to take a leap forward," adding, "We hope this agreement will create an ecosystem where many K-fintech companies can grow into unicorns."