Fintech
KORFIN and KCCA enter into strategic partnership to promote Fintech and Blockchain in Korea
The Korea Fintech Industry Association (KORFIN) and the Korea Creata Chain Association (KCCA) have officially announced a strategic partnership aimed at promoting the development of the fintech and blockchain sectors in South Korea. This partnership, formalized in Seoul, also includes the registration of KCCA’s membership of KORFIN. The collaboration is expected to strengthen cooperative efforts between the two associations, promoting innovation and growth within these booming industries.
A vast network of influential actors
KORFIN, founded in April 2016, represents the largest network of its kind in South Korea, comprising over 500 different companies and organizations. They range from startups to large enterprises and financial institutions, with more than 100 members involved in blockchain-related activities. This vast network positions KORFIN as a significant player in advancing the fintech and blockchain agenda.
Vision for convergence and innovation
KCCA leadership expressed high expectations for the results of this partnership. They foresee an active convergence of fintech and blockchain technologies, facilitated by this collaborative effort. The association aims to collaborate with KORFIN to provide innovative financial services and significantly contribute to making South Korea a global fintech hub. Additionally, KCCA intends to leverage CreataChain’s suite of decentralized applications (dApps) and blockchain services to maximize the synergy between fintech and blockchain, promoting a more innovative and efficient financial ecosystem.
Focus on joint research and development
The partnership encompasses several key areas of cooperation, including research into the integration of fintech and blockchain technologies, the development of cutting-edge financial services, and the building of robust ecosystems within related industries. The organizations intend to focus on joint research and development (R&D) to create new business models, which is expected to spur growth in both sectors. Furthermore, the partnership aims to strengthen both domestic and international cooperation networks, further enhancing the global competitiveness of South Korea’s fintech and blockchain industries.
Milestone for the growth of the sector
The collaboration between KORFIN and KCCA is set to become a significant milestone for the fintech and blockchain industries in South Korea. By joining forces, the two associations aim to promote sustainable growth and development, enhancing the nation’s competitiveness in the global market . This partnership is seen as a crucial step towards achieving a more innovative and efficient financial environment, which will ultimately benefit the overall economy.
In summary, the strategic partnership between KORFIN and KCCA is expected to play a vital role in the advancement of the fintech and blockchain landscape in South Korea. Through joint efforts in research, development and ecosystem construction, the two organizations are set to create a more integrated and innovative financial sector. This collaboration not only highlights the potential of fintech and blockchain convergence, but also underlines South Korea’s ambition to become a leading global fintech hub.