WeHub establishes local subsidiary in Berlin, Germany to enter European market

Wihub, the largest shareholder of Focus HNS, announced on the 12th that it has established an overseas corporation in Berlin, Germany, and plans to enter the European market through client discovery and networking.

To this end, Wihub executives traveled to Berlin from the 1st to the 11th to complete the procedures for establishing the corporation and conducted market research. They also held local meetings with payment companies Billie and Klarna, delivery company Delivery Hero, and airline Lufthansa to discuss collaboration.

A company official stated, "After being finally selected in the first round for customized overseas market entry and scale-up support for promising fintech businesses through the Financial Services Commission and the Fintech Support Center last March, we completed thorough market research over about five months. Based on payment market trends, financial regulations, and competitor analysis, we decided to establish a European corporation in Germany."

He added, "We are actively conducting meetings with potential clients and plan to expand our network through various events held locally. As part of this, we visited the Internationale Funkausstellung (IFA), the largest consumer electronics exhibition in Europe, held from the 6th to the 10th in Berlin, and met with various companies."

At this event, the company held partnering meetings with European local companies through the Korea-EU Research and Innovation Center (KIC Europe). KIC Europe, which supports Korean small and medium-sized enterprises aiming to build a global innovation ecosystem in Europe, is located in Berlin, Germany. It is an institution under the Ministry of Science and Technology and operates with support from the Research Foundation.