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#Korea to Boost #Investments in #FinTech, #Blockchain #Startups

NewsBTC_Korea Fintech Bitcoin

The #Korean government has unveiled its plans to support the #development and #growth of #startups in the country. To be more precise, they will support #venturecapital for #Fintech and #blockchain startups in #Korea going forward.

Up until this point, the Korean #government and #regulators had remained fairly tight-lipped regarding the future of Fintech in their country. Given the growing interest in this industry, it is not a complete surprise to hear Korea wants to get involved in the future of #financial #technology.

Financial Services Commission chairman Yim Jong-yong told the media:

“With the advent of fintech and ICT-based firms, once-exclusive financial services are evolving into new types of service. As capital markets have large potential in innovation and change, the government will make sure that startups with creative ideas get enough venture capital.”

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  1. Igor Kaparis (the CEO of International Fintech) says, "Korea has a broad range of Fintech businesses from payment services, P2P lending, blockchain applications, etc. The most noticeable Fintech innovation trend that is led by major Korean IT companies and financial institutions is electronic payment service."

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