South Korea Is Investing $16 M to Train Potential Experts In Digital Finance

On Feb. 12, the Korean Financial Services Commission and the Seoul metropolitan government announced plans to invest $16 million in four-year training of digital finance experts. The deadline to win the grant is March 4-6.

NEW Program Description

The FSC has explained that demand for financial technology specialists is rising. The program aims to ensure educational opportunities for Fintech professionals in the next generation. The program will begin the second half of 2020 and run in the financial center in the capital city of Seoul’s Yeouido district until 2023. It is open to employees at financial firms, fintech founders and other job seekers in the sector.

Applicants have two syllabuses to choose from degree and non-degree programs. The Master’s degree program will accept 80 students per year. While the non-degree program will be available to 160 students with conditional financial support.

The course’s contents are advance insights and hands-on workshops for intensive study in fields related to digital finance, including big data, cloud, and blockchain.

The Korean Financial Services Commission has made significant breakthroughs in fintech regulations over the past two years. Including the Special Act on Internet-only banks, the Fintech Technology Support Act and the Peer-to-Peer Lending Act.

In the same announcement, the Financial Services Commission announced the regulatory sandbox was introduce under the Fintech Innovation Support Act. That as of December 18, 2019, a total of 77 ‘ innovative financial services ‘ approved to test their ideas with regulatory exemptions. In the near future, the government will continue to grow the fintech industry. In such areas as open banking and private data sector.


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