Seoul Fintech Lab, a fintech specialized startup support organization operated by the Seoul Metropolitan Government, announced on the 25th that it invited officials from the Chilean Embassy in Korea on April 24th to discuss the possibility of mutual cooperation.
This meeting was held with the purpose of activating exchanges between the fintech industry and startup ecosystems between the two countries. At the event, Seoul Fintech Lab introduced the main functions of the organization and support programs for resident companies, explained the conditions for resident companies that are open to overseas startups, and continued with substantive discussions on the possibility of Chilean fintech companies advancing into Korea.
Seoul Fintech Lab provides free space for up to 3 years, legal and accounting advice, investment connections, and global expansion programs to fintech startups that have been in business for less than 7 years. In addition, it provides comprehensive support for startup growth through programs such as open innovation, demo days, expert mentoring, and education academies.
The Chilean Embassy expressed great interest in Korea’s fintech and startup support infrastructure, and said, “We expect that the startup and innovation ecosystem-related events scheduled for Chile this May will lead to substantial expansion of cooperation between the two countries.” They added, “We expect that more specific joint program discussions and online and offline exchanges will be possible next year.”
In addition, the Chilean side proposed not only exchanges between startups from both countries, but also the possibility of cooperation with the Chilean government and private organizations for the entry of Korean startups into the Central and South American markets, and discussed structural collaboration plans for mutual advancement.
An official from Seoul Fintech Lab said, “Through this exchange, we were able to confirm the potential for cooperation between the fintech industries of Korea and Chile,” and added, “We will continue to expand our global partnership and provide diverse support so that promising fintech companies in Seoul can advance into overseas markets.”
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