Major Announcement from the Korean Financial Services Commission
On February 12, the Korean Financial Services Commission (FSC) and the Seoul metropolitan government dropped an exciting bombshell: they will invest a whopping $16 million over the next four years to train digital finance experts. Talk about making it rain in the fintech scene!
Grant Application Process
If you’re itching to get in on this action, take note. The application window for the grant is open from March 4 to March 6. You’ve got three days to show them why you’re the next fintech superstar. So, put on that charm and let your passion for digital finance shine!
What’s in the Program?
The program, which kicks off in the latter half of 2020 and runs until 2023, is aimed at the upcoming talent in the financial technology sector. Located in the bustling Yeouido district, Seoul’s financial hub, the initiative is open for:
- Employees at financial institutions
- Founders of fintech startups
- Job seekers in the industry
Applicants can choose between two exciting curriculum types: degree and non-degree programs. Each year, the Master’s program will welcome 80 eager minds, while the non-degree digital finance professional training will accommodate 160 students, albeit with some conditional financial support.
Course Details
What will you be learning in this high-tech wonderland? Expect advanced theories and immersive, hands-on courses ranging from big data analytics to cloud technology and blockchain wizardry. It’s a buffet of knowledge designed for those ready to dive deep into the seas of digital finance!
South Korea’s Fintech Legislative Leap
In recent years, South Korea has been on a fintech roll, implementing major legislative changes. From the Special Act on Internet-only Banks to the Fintech Innovation Support Act and the Act on Peer-to-Peer Lending, the government is laying the groundwork for a booming fintech sector. And let’s not forget about the regulatory sandbox making waves! As of December 18, 2019, a grand total of 77 ‘innovative financial services’ were designated for testing with regulatory exemptions, allowing for some serious innovation without the usual red tape.
What’s Next for the Fintech Industry?
The enthusiasts of fintech, buckle up! With initiatives like open banking and advancements in private data business on the horizon, South Korea is gearing up for an exhilarating ride in the digital finance landscape.
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