Korea-Belgium FinTech Associations sign MoU for growth & development

South Korea’s Fintech Center Korea & FinTech Belgium organized a Korea-Belgium Demo Day on 19th June in Seoul with the aim to exchange ideas and network for business development and mutual growth. The leading FinTech associations of both countries also signed an MoU (Memorandum of Understanding) for the first time for more collaboration and insights.

The FinTech seminar was organized supported by the Embassy of Belgium in Korea. Representatives of Korea’ FinTech Center Korea and FinTech Belgium spoke to the participants and apprised them of ecosystems in the respective nations.

Members of FinTech Belgium, hub.brussels, Belgian Finance Center and B-Hive had come to Korea for the FinTech trade mission. The seminar was part of the series of other events organized from June 17th to June 21. The Belgium business associates actively networked with members of the Korean industry’s leading names in financial technologies. FinTech Belgium’s Thierry Janssen and FinTech Center Korea Yoo Shin Jung signed the MoU.

Chairman of FinTech Center Korea Yoo Shin Jung introduced the FinTech industry of Korea and emphasized the growth of FinTech companies to the digital platform. He talked about the emergence of innovation in the FinTech industry through internet banking, insuretech and crowdfunding services.

Se Jin-Kim, Head of FinTech Support Team, elaborated about the IT-Finance Convergence support plan of 2015 by the Korean government and explained the support policies for FinTech industry growth in the country. Jin-Kim mentioned how the simplified process for FinTech support had converted into an increase in the number of FinTech companies, especially the ones at the nascent stage.

Thierry Janssen of FinTech Belgium gave a presentation about the Belgium FinTech industry and how FinTech companies and startups of both countries can benefit from cooperation.

The main goal behind the seminar and visit for the Belgian FinTech industry-related companies and major financial institutions was to understand the policies and trends of the Korean FinTech market. Members of the FinTech Center Korea and a few other leading companies and startup representatives participated in the seminar. The event was an overall success and the MoU signed can open many doors for Korean companies to enter the Europe market.