Supporting Startup Overseas Expansion... KB Financial Group Partners with Korea International Trade Association

Introduction of Overseas Companies and Support for PoC Costs

KB Financial Group is helping startups expand overseas in collaboration with the Korea Trade Association. They plan to connect startups with global corporations and support technology proof-of-concept (PoC) projects.

On the 13th, KB Financial Group, together with the Korea Trade Association, finalized the selection of four domestic startups to participate in the 'Global PoC (Proof of Concept) Program' aimed at supporting startups wishing to enter overseas markets.

PoC refers to a series of tests conducted to verify the feasibility of new technologies or products before companies adopt them. Through the newly launched 'Global PoC Program' starting this year, startups can introduce their products and services to overseas large corporations, receive various evaluations and feedback, and assess their potential for global expansion.

A total of 87 domestic startups applied during the open recruitment held from October 23 to November 8. After the first round of document screening, the final selection was made through one-on-one interviews with large corporations in Singapore. The selected companies are ▲Maketon (developing immersive display products using contactless 3D hologram technology), ▲Sensepix (providing a platform for maintenance and operation automation of AI-based IoT management facilities), ▲Insys (developing personal skin measurement devices and analysis platforms), and ▲Pactagora (a generative AI platform for fact-based data verification).

The selected startups will conduct PoC projects for about three months until February next year in cooperation with the Korea Trade Association and major Singaporean corporations such as OCBC, a large Singaporean bank, and P&G, a global consumer goods company.

KB Financial will support the costs required for the PoC execution for the four startups (up to 10 million KRW per company). After the program concludes, a 'Demo Day' event will be held in Singapore, inviting local large corporations and startup stakeholders to share the outcomes.

A KB Financial representative stated, "For startups aiming to expand overseas, securing references such as collaboration experience with overseas partners is most important," adding, "Starting with this program, we will prepare various overseas expansion support programs to help startups pioneer unfamiliar foreign market environments."