The Financial Supervisory Service will visit Silicon Valley in the U.S. to hold an investment briefing (IR). The purpose is to help domestic fintech companies enter overseas markets. It is one of the implementation measures of “support for overseas expansion” that Lee Bok-hyun, head of the Financial Supervisory Service, promised to representatives of fintech companies earlier.

The Financial Supervisory Service announced on the 18th that it will visit Seoul and Silicon Valley in the U.S. by the 23rd.

Through this, the entire process related to investment in four fintech companies selected by the Seoul Metropolitan Government will be supported. It includes attracting investment, establishing strategies related to entering the U.S. market, consulting, and attracting follow-up investments. An IR event will be held at the KOTRA Silicon Valley (IT Center) on the 20th.

About 50 people will attend the event, including venture capital (VC), a local investor, and accelerators that connect startups and investors. Four fintech firms introduce business items to local investors who have shown interest in advance and conduct customized 1:1 meeting consultations.

Related Articles
Stop duplicate subscriptions…The Financial Supervisory Service introduces a system to suspend group insurance for loss next year
Illegal financial advertisements such as “work loans” targeting unemployed people are prevalent.Financial Supervisory Service issued a consumer alert

It also discusses the direction of Korea’s move toward a digital financial hub. It will establish a cooperative system to support innovative growth with high-level officials in charge of fintech by local financial supervisory authorities. It will also listen to new financial techniques and risk management status from high-ranking officials of “Silicon Valley Bank,” which supports funds by judging the technology of startups. He will visit PayPal’s headquarters, a global fintech in the payment and remittance fields, and will also have interviews with technology development executives. The contents secured here will be reflected when establishing a support system for the creation of a digital financial center in the future.

It will also expand exchanges with local investors. Listen to opinions from accelerators to increase opportunities for Korean fintech to expand overseas and attract investment. It will also establish mutual networks through luncheon meetings with local venture capital (VC) associations in Silicon Valley.

Financial authorities believe this will allow domestic fintech firms to expand their growth base overseas. It will also explore the creation of a Silicon Valley-style fintech ecosystem where financial surplus entities such as fintech companies that lack funds, financial companies, and venture capital coexist.

Following Silicon Valley IR, we plan to conduct IR in Singapore in November, a Financial Supervisory Service official said. “We will try to solve the difficulties of the domestic fintech industry’s global expansion sequentially.”

By fonuder

Leave a Reply