Woori Financial Group Opens Blockchain Specialized Dino Lab B Center in Busan, First in Financial Sector

Woori Financial Group Opens DINNOLab B Center in Busan
Supporting Blockchain and Fintech Startups through Industry-Academia Collaboration

Woori Financial Group opened the 'DINNOLab B Center' in Busan Metropolitan City on the 13th to support startups in the blockchain and fintech sectors. As the first financial institution to select and nurture startups centered on blockchain, the B Center embodies the meanings of both Busan and Blockchain.

Busan City has actively promoted technology verification and commercialization as the only blockchain regulatory free zone in Korea. Through regulatory relaxation, it is expanding the potential for blockchain-based business connections. The DINNOLab B Center will collaborate with Busan City to facilitate cooperation among blockchain companies.

The event was held at the Eurasia Platform located at Busan Station. Officials from Woori Financial, Busan City, Busan Technology Startup Investment Foundation, and seven companies selected for the 'DINNOLab Busan 1st cohort' attended.

The companies selected for the 'DINNOLab Busan 1st cohort' are startups in the blockchain, fintech, and platform sectors, including △NewEye △BlockoXYZ △B-Dax △CrossHub △LiveX △DevD △AM Management, totaling seven companies.

A Woori Financial official stated, "We expect to create new business opportunities through cooperation with promising companies possessing innovative blockchain technology," adding, "We will spare no support for the growth of startups based in Busan, which has excellent infrastructure such as the blockchain regulatory free zone."

Meanwhile, 'DINNOLab (Digital Innovation Lab)' is a venture incubation program by Woori Financial aimed at supporting startup growth and mutual cooperation. Woori Financial has discovered a total of 177 companies through five DINNOLab centers?two in Seoul, one in Gyeongnam, one in Chungbuk, and one in Busan?and continues to provide multifaceted support, including direct and indirect investment connections amounting to 175.2 billion KRW.