|Korea Fintech Center Chairman Jung Yu-shin, left, poses with Fintech Association of Malaysia Chairman David Fong after signing a memorandum of understanding for their cooperation at the InterContinental Hotel in Kuala Lumpur, Malaysia, Thursday. / Courtesy of Korea Fintech Center|
By Nam Hyun-woo
The Korea Fintech Center held the 2017 Fintech Road Show in Malaysia, introducing Korea's fintech companies and technologies in Malaysia as well as providing opportunities to enter the Southeast Asian market.
According to the center, Thursday, the event is its seventh overseas demo day, aimed at promoting Korean fintech companies in the overseas market. So far, the center has held such events in Beijing, Shanghai, Silicon Valley, London, Cambodia and Singapore.
During the road show held in Kuala Lumpur, the center signed a memorandum of understanding (MOU) with the Fintech Association of Malaysia (FAOM) to strengthen cooperation. FAOM was established in October 2016 and is comprised of government institutions and local fintech firms.
Through the MOU, the center will introduce Korea's top-notch fintech firms in Malaysia and the two countries will cooperate to build a fintech ecosystem and a channel for continuous communication, an official at the center said.
Also during the event, the center, FAOM and Malaysia Digital Economy Corporation held a fintech forum, introducing Korea's trend and model cases as well as Malaysia's government policies and regulatory norms on the industry.
Six firms from Korea -- PayPerse, Infosonic, M-Robo, Bizworks, Small Ticket and InnoPlayLab -- and four Malaysian firms attended the event to present their technologies and business models to participants.
"With the new wave of financial infrastructure innovation coming, there are increasing demands for Korea's fintech services in Southeast Asia," Korea Fintech Center Chairman Jung Yu-shin said.
"We hope the Fintech forum and Demo Day event can be a stepping stone for an active interaction between Korea and Malaysia, contributing to a win-win situation for the fintech industries of both countries."
The Malaysian road show was the last event in Korea Fintech Center's 2017 fixture. This year, the center held eight demo day events with participation by 45 firms.
The center said it has plans for various events including demo days next year.