Are you a fintech firm with overseas expansion ambitions?
We’ve just published a market intelligence report on opportunities in the sector in South Korea – the latest of our analyses for the UK government’s Department for International Trade (DIT).
It's titled 'Fintech South Korea' and you can download your free copy below.
The report outlines how South Korea’s main financial players have all established fintech innovation labs and are investing in startups. The B2C market has seen particularly strong growth: the country’s consumers are relatively experienced with fintech products and keen to embrace new tech.
Total digital payment values stood at £73 billion in 2018, which is expected to grow to £110 billion by 2023.
The report’s introduction says:
“South Korea offers significant opportunities for British fintech companies with major technology leaders, online and offline banks, financial institutions and local startups investing heavily in the field. While regulations in this traditionally conservative sector have acted as a break on growth to-date, the Korean government is now actively supporting innovation by deregulating and creating a favourable policy environment. The nascent industry has no clear leader at present and companies are keen to engage with world-class UK companies to gain an advantage over rivals.”
The report:
- gives an overview of the Korean fintech ecosystem
- explains the regulatory system, government initiatives and policy roadmap
- looks at the main opportunity areas, and
- recommends market entry strategies – highlighting the need for on-the-ground support and partnerships with local players
Download your free copy of the report here:
And you can find other market intelligence papers in the Published Reports section of our website, including analyses of Korea’s digital health, AI, IoT, autonomous vehicle and smart cities sectors, Taiwan’s digital health market, and Japan’s AI and medtech fields.
To discuss the opportunities for your fintech business in South Korea, contact Michal Waszkiewicz at michal.waszkiewicz@intralinkgroup.com