By Maeng Jun Ho (juneau0317@korea.ac.kr)
Korea University (KU) College of Informatics recently signed a Memorandum of Understanding (MOU) with International Sourcing Platform Center (ISPC) to build a Fintech center. Through this MOU, both parties aim to not only strengthen collaboration in developing a base platform, but also to exchange information, and launch joint investment projects. Short for Financial Technology, Fintech is one of the rising industries that specialize in improving efficiency of the financial sector through innovative technology.
The signing ceremony was held at KU Main Hall on March 24th, with major officials from both sides, including Kim Su Won, Vice President for Research at KU, and Sam Lin, President of ISPC. ¡°This is an important stepping stone to develop a domestic Fintech platform as this industry has been dominated by Western countries,¡± said Yoo Hyuck, the President of College of Informatics. He also added that this provides an opportunity to ¡°venture into the huge Chinese market.¡±
ISPC, founded by Shanghai government in 2002, is a government-sponsored organization that deals with international sourcing, trade, and investment. The organization¡¯s main agenda is to provide assistance to Chinese firms that are trying to expand their business overseas and vice versa. This MOU with KU is just one example of their work and they plan on gradually increasing the level of cooperation in the foreseeable future.
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