SEOUL FINTECH LAB

Seoul Fintech Lab is a fintech startup supporting institution providing an incubating and accelerating program and completely funded by the Seoul Metropolitan Government. We are providing customized supports for the various needs of fintech start-ups and offering office space up to 2 years.

Currently, we have 70 fintech startups, and we are scheduled to enlarge the capacity of the program to a total of 100 fintech start-ups in the second half of 2020. The Seoul Metropolitan Government founded and established the Seoul Fintech Lab in 2018, and it is located at Yeouido, Seoul in order to promote the global competitiveness of fintech start-ups and to utilize the financial hub of the area.

The Goal

Fintech Hub

To build a fintech hub, connecting Seoul Fintech Lab and various instituiions of a private sector

Global Fintech

To support fintech startups to have global competitiveness through networking with foreign fintech companies

Fintech Network

To implement Korean government's policy of promoting fintech area, achieving innovation in financial industry

History

2020

Oc

Expected to expand the capacity to support total 100 fintech startups (expecting to use two more floors in Wework)

Jul

MOU with Hyundai Marine & Fire Insurance
MOU with the Seoul Metropolitan Government & Hana Bank

May

MOU with Business School of Sungkyunkwan University (Internship program & academic-industrial partnership)

2019

Dec

Startups in Seoul Fintech Lab achieved total revenue of KRW 27.6 billion,
total investment attraction of KRW 30.8 billion, and total hiring of 125 persons.

Oct

MOU with the Korean Intellectual Property Office (opening of a branch office within Seoul Fintech Lab)
MOU with Financial Supervisory Service (opening of a branch office within Seoul Fintech Lab)
Opening of merged Seoul Fintech Lab in Yeouido, Seoul (supporting 70 startups)

Jul

Opening of Seoul Fintech Lab #2 in Yeouido, Seoul (supporting 16 startups)

Jun

MOU with Copenhagen Fintech

2018

Apr

Opening of Seoul Fintech Lab #1 in Mapo, Seoul (supporting 14 startups)

Current Status (as of December 2019)

Total number of startups

70

(100 in 2020)

Total revenue of startups

KRW 27.6 billion

Total investment attraction of startups

KRW 30.8 billion

Total hiring of startups

125 persons

Total number of R&D projects of startups

103 cases

Global expansion of startups

11 countries by 17 startups

(as of Dec 2019)