Aiming to become a hub of Asia's financial technology (Fintech) sector, South Korea agreed Monday to join hands with France.
The two sides signed a memorandum of understanding on sharing related information and supporting their Fintech firms on each other's soil.
The deal between South Korea's Fintech Center and the French Tech Hub Seoul was reached on the sidelines of a joint Fintech seminar to commemorate the 130th anniversary of the two nations forging formal diplomatic relations.
"When South Korea entered the smartphone business in the 2000s, many said it might be too late. But South Korea has become a global smartphone power," Financial Services Commission Chairman Yim Jong-yong said in a speech at the forum of the Convention and Exhibition Center in southern Seoul. "(The government) will make South Korea's Fintech spread across the world."
He said it's meaningful for South Korea to team up with France, a core part of the eurozone economy, for synergy.
Meanwhile, the French Embassy in Seoul will open the two-day "French Tech Days in Korea" event later in the day.
It's designed to introduce French innovative companies to potential business partners in the South Korean market.
With the three subthemes of Fintech, Medtech and the Internet of Things (IoT), major French technologies will be on display at COEX.
A series of roundtable discussions and business-to-business meetings will be held as well, joined by dozens of French firms, including Airbus Defense and Space, Thales and French Healthcare Alliance. (Yonhap)
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