Fintech firms from South Korea and Indonesia partner to build ecosystem

South Korean and Indonesian fintech industry players have planned to jointly develop a supportive fintech ecosystem in order to help improve the emerging sector in both the countries.

Jakarta will witness representatives from ten South Korean fintech firms and a fintech industry association, who will talk with their Indonesian counterparts on the latest updates in the Korean fintech industry as well as study potential partnerships with local firms.  

“Indonesia and Korea need to develop a strong and integrated fintech ecosystem through a collaborative partnership, within the ecosystem and across different ecosystems,” Keunju Lee, secretary-general of Korea Fintech Industry spoke during 2016 Korea-Indonesia Fintech Seminar and Business Meetings in Jakarta.

Ajisatria Suleiman, Indonesian Fintech Association’s director of public policy commented that the meeting will foster opportunities for local firms to adopt new technology from their Korean counterparts.

The collaborating Korean fintech companies include smartphone application developer Paycock, finance security and mobile solution provider Crizen Solution, digital asset trading and money transfer platform provider Korbit, among others.