KB Financial Group Launches 'KB Global Fintech Lab' in Singapore to Support Startups

On the 22nd, local startup representatives attending the opening ceremony of the 'KB Global Fintech Lab' held in Singapore, along with Yang Jong-hee, Vice Chairman of KB Financial Group, and other executives and employees, are taking a commemorative photo.

[Asia Economy Reporter Bu Aeri] KB Financial Group announced on the 22nd that it has opened the 'KB Global Fintech Lab' in Singapore.

The KB Global Fintech Lab supports domestic startup companies in Singapore to ensure stable overseas expansion and to share global technologies and trends. It will also play a role in discovering promising local global startups and linking them with partnerships and investments through KB Financial Group's global network.

Four domestic startups selected for global expansion?Gomi Corporation, Senstone, Wavebridge, and Horizon Technology?were chosen as 'KB Starters Singapore.' KB Financial Group provides these companies with local office space in Singapore and supports various scale-up programs.

KB Financial Group signed a business agreement with the Small and Medium Business Corporation under the Ministry of SMEs and Startups to operate a public-private cooperation program to support startups. Through this program, they plan to jointly develop and promote overseas collaborative businesses.

In March 2015, KB Financial Group became the first domestic financial company to open a fintech lab and has since discovered 177 startup companies as nurturing enterprises. Through 249 partnerships and collaborations with KB Financial Group affiliates, it has supported the practical commercialization of startup services. As of the end of last month, the total amount supported by KB Financial Group using various investment infrastructures within the group reached 120.7 billion KRW.