South Korea
Asia's Leading Hub for Financial Innovation
South Korea has rapidly emerged as one of the world’s most advanced fintech markets, driven by cutting-edge technology, a highly digital-savvy population, and strong government support. From mobile payments to blockchain, the country is at the forefront of financial innovation.
Why South Korea for Fintech?
✅ Tech-Driven Economy: With one of the highest smartphone penetration rates globally, Koreans embrace digital finance seamlessly.
✅ Government & Regulatory Support: The Financial Services Commission (FSC) promotes fintech through sandbox programs, open banking, and crypto regulations.
✅ Strong Digital Infrastructure: Ultra-fast internet, widespread 5G, and advanced ID verification enable secure fintech adoption.
✅ Thriving Startup Scene: Home to fintech giants like Toss/Viva Republica and KakaoPay, Korea attracts major investments from global players.
Key Fintech Trends
- Mobile Payments & Super Apps: KakaoPay, Naver Pay, and Samsung Pay dominate, offering seamless P2P transfers, QR payments, and financial services.
- Open Banking: Launched in 2019, Korea’s open banking system now connects over 30 million users, fostering fintech-bank collaborations.
- Blockchain & Crypto: Korea is a major crypto trading hub, with exchanges like Upbit and Bithumb, and progressive regulations on digital assets.
- AI & Big Data in Finance: Korean fintechs leverage AI for credit scoring, robo-advisory, and fraud detection.
The Future of Fintech in Korea
With continued innovation in AI, CBDCs (digital won pilot), and cross-border fintech expansion, South Korea is set to remain a global fintech leader.
We support you in starting successfully
- Researching the Korean FinTech market
- Setting up and running a subsidiary on behalf of you
- Advising you on funding and government support
- Introducing you to key decision-makers in the FinTech community
- Finding the right location for your office
- Supporting marketing and sales initiatives
- Identifying and facilitating pitching opportunities
- Evaluating and recommending accelerator & incubator programs
- Translating documents and marketing materials
- Advising you on legal and tax matters via our Korean partners
- Educating you on the latest trends in FinTech