Woori Financial Group Opens First Overseas Dino Lab in Hanoi, Vietnam

Woori Financial Group announced on the 24th that it opened the DINNOlab Vietnam Center in Hanoi, Vietnam on the 23rd and jointly held the ‘Global Demo Day in Hanoi’ with the Financial Services Commission.

DINNOlab is Woori Financial’s startup discovery and nurturing program. The newly established DINNOlab Vietnam Center is expected to serve as a global test bed, supporting domestic startups with innovative technologies and ideas to enter the Southeast Asian market.

The launch ceremony of the DINNOlab Vietnam Center was attended by key domestic and international organizations including the Financial Services Commission, Woori Financial, the State Bank of Vietnam, and the Embassy of the Republic of Korea in Vietnam. During the event, there was a session to hear about the excellence and cases of Korean companies that have entered the local market. Additionally, a business agreement ceremony for fintech cooperation between Vietnam Woori Bank and Webcash Global was held.

The main event featured introductions to the Korea-Vietnam fintech industry and investment trends, fintech company exhibition booths, IR pitching, and business consultation meet-ups. Notably, the IR pitching included a total of 10 companies, such as five DINNOlab startups?Cashmelo, SCM Solution, TR, Piero Company, and S&E Company?as well as Korean companies aiming to enter the Vietnamese market and local Vietnamese fintech companies.

A Woori Financial official stated, “Vietnam is a land of opportunity for the fintech industry due to its young population, high economic growth rate, and the expansion of digital device adoption,” adding, “The DINNOlab Vietnam Center will support business partnerships with companies leading Vietnam’s fintech sector and discover new business models, providing overseas expansion opportunities to startups across various fields.”