Government opens a new center specializing in fintech

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Government opens a new center specializing in fintech

The Ministry of Science, ICT and Future Planning opened a center on Tuesday specializing in fintech, a portmanteau of “finance” and “technology,” to facilitate the emerging sector’s growth.

The center, located inside the Korea Internet & Security Agency, will provide facilities for related companies to test their latest technologies and help them commercialize their innovations.

Fintech firms that wish to use the facility may file applications starting in May, and the ministry plans to host a competition in July to discover promising fintech start-ups and provide them with support.

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