The Financial Services Commission announced on the 6th that it has selected 10 companies through the first round of recruitment of "K-Fintech 30," an excellent fintech company.

On this day, the Financial Services Commission held a selection ceremony for 10 fintech companies selected as a result of the first round of recruitment for the excellent fintech company "K-Fintech 30" at Front One in Mapo, Seoul.

"K-Fintech 30" is to find fintech companies that will lead future financial innovation, and the Financial Services Commission plans to select a total of 30 fintech companies by 2025, including 10 through the first round of recruitment this year.

A total of 52 promising fintech companies applied for the selection process, recording a 5.2:1 competition ratio. Companies with excellent business model innovation and growth potential were finally selected after evaluation by the private evaluation committee composed of experts related to the fintech industry.

Ten FinTech companies were selected for the first round of recruitment, including Moeen and VillageBaby, Centby, C&Tech, Acros Technologies, AGEN Global, AMS, Fountain, Pintto, and Hanpass.The average business performance of these selected companies was 6.6 years, the average sales were 5.55 billion won, the average number of employees was 57.1, and the average investment attraction was 18 billion won.

The Financial Services Commission plans to provide them with customized intensive support for scale-up, including support for linking various policy funds such as policy financial support limits and preferential interest rate conditions, support for linking financial companies' services, expanding investment attraction and IPO (IR) opportunities, specialized fintech consulting, and support for entry into overseas markets.

Jeon Yo-seop, head of the Financial Innovation Planning Division at the Financial Services Commission, said, "We will focus on supporting the selected companies with innovation and growth so that they can scale up as representative companies in Korea," adding, "We will continue to support various support policies to revitalize the fintech industry."