The 4^th annual global fintech expo, 2022 Korea Fintech Week will be held for three days from September 28 to 30 for both on-site (Lotte Hotel Seoul) and online viewing. Fintech businesses and experts from at home and abroad participate.

Welcoming Remarks by FSC Chairman

FSC Chairman Kim Joo-hyun delivered welcoming remarks at the opening ceremony. He spoke about the economic, financial and regulatory environment surrounding the fintech ecosystem and the government’s policy direction to promote fintech. The following is a summary of Chairman Kim’s remarks.

Korea’s fintech industry expanded its size significantly in terms of the number of businesses in operation. However, recent global fintech rankings show Korea’s ranking dropped from 18^th in 2019 to 26^th in 2020. And currently, fintech firms are facing challenges from expanding platform-based big tech companies and financial institutions which accelerate digitalization. Fintech firms also experience difficulties in attracting investments amid tightening monetary policies around the world. Besides, there are continuing concerns about inflexible regulations in the financial sector.

In response to rapidly changing conditions surrounding the fintech industry, the government will act in a more agile manner to support fintech businesses in four aspects. First, the government will improve the financial regulatory sandbox program to promote commercialization of fintech services in order to make fintech startups to utilize this program more actively. Second, the government will examine and strengthen the financial support infrastructure to facilitate investment and funding on fintech firms. Third, the government will work to expand regulatory flexibility for artificial intelligence (AI)-based services and the rules on cloud computing use and network separation. Fourth, through a fundamental reexamination of current regulations, the government will actively pursue digital regulatory reforms throughout the whole financial industry.

In addition, the government will continue to communicate with fintech businesses, listen to their voices and seek solutions on the spot and help establish a policy environment that promotes a virtuous cycle of financial innovation. In this regard, the Korea Fintech Week can help introduce Korea’s innovative fintech service cases abroad and inform overseas fintech innovation cases to Korea, thereby providing a venue to connect the world and achieve a virtuous cycle.

Program Summary

[Day 1 / Wednesday, September 28]

Following the opening ceremony, a policy information session will take place, presenting the government’s fintech policy for 2022.

Seminars and events on “successful fintech collaboration story” and “fintech firms’ overseas business expansion” will be available.

[Day 2 / Thursday, September 29]

Seminars on various fintech-related themes such as digital transformation and financial innovation will be held with participation of experts from at home and abroad.

Also, programs for promoting investment in fintech firms will take place.

[Day 3 / Friday, September 30]

Consulting programs for fintech jobs and attracting investment will be available for fintech job seekers and fintech startups, respectively.

A teen-oriented musical on finance-related theme as well as a fintech idea contest will be held.

[Online Viewing]

On 2022 Korea Fintech Week’s website (www.fintechweek.or.kr/2022), visitors can watch opening ceremony and seminars via live streaming and access a variety of digital content through metaverse-based exhibition, education and experience halls.

* Please refer to the attached PDF for details.