Seoul FinTech Lab & Chilean Embassy Launch Korea-Chile FinTech Cooperation

## Seoul FinTech Lab Opens New Horizon for FinTech Cooperation with Chile Seoul FinTech Lab, a specialized startup support institution for fintech operated by the Seoul Metropolitan Government, took a meaningful first step yesterday towards the future of the fintech industries in both countries by meeting with officials from the Embassy of Chile in Korea. This meeting served as a bridge connecting Korea's advanced fintech ecosystem with Chile's growth potential. During the discussion, Seoul FinTech Lab emphasized that it provides comprehensive free services to promising fintech startups within seven years of their establishment, including office space for up to three years, legal advice, investment linkage, and support for global expansion. It highlighted that it particularly welcomes foreign companies and introduced a systematic support system that drives the continuous growth and market expansion of startups through global open innovation, demo days, expert mentoring, and capacity-building academies. In response, the Chilean Embassy expressed deep interest in Korea's innovative startup ecosystem and showed anticipation that a more substantial platform for cooperation would be established next year, linked to the startup innovation ecosystem event to be held in Chile this May. The discussion went beyond merely Chilean startups entering Korea, garnering attention for its in-depth exploration of a reciprocal cooperation model where Chilean government and private institutions support Korean startups' entry into the Latin American market. The Chilean side also stated its intention to pursue various preparations for next year through continuous online and offline discussions. An official from Seoul FinTech Lab confirmed the significant potential for full-scale fintech cooperation between the two countries through this exchange and reaffirmed its commitment to continuously expanding global partnerships to actively support the overseas expansion of Seoul-based startups. This meeting is expected to be an important milestone, ushering in a new era of mutual development between Korea and Chile in the fintech sector. Close cooperation between the two countries will provide significant momentum for innovative fintech startups to expand into the global market.