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South Korea to train prospective digital finance experts

To meet up with the increased pressure for specialists in the financial technology space, the Korean financial services commission is planning to fund $16 million in training digital finance experts for four years.

This is in conjunction with the Seoul metropolitan government.

There is an application duration of March 4-6 to be able to earn the grant.

What the training entails

According to the Korean financial services commission, the objective of the training is to guarantee educational chances for financial technology experts.

Workers at financial corporations, originators of fintech organizations and other employment seekers in the sector are advised to apply.

The training will begin in the second half of 2020 till 2023 in the financial center in Yeouido district in Seoul.

Applicants can select from two curriculums which are the degree and non-degree programs.

While the Degree program will enroll 80 learners per year, the non-degree will be available to 160 learners with conditional monetary assistance.

The courses are for intensive research for digital finance-related careers such as blockchain, cloud and big data.

The topics of the program are refined theories and hands-on courses.

South Korea is raising the fintech sector up

In fintech legislation such as the Special Act on Internet-only Banks, the Fintech Innovation Support Act and the Act on Peer-to-Peer Lending, the Korean Financial Services Commission is making waves.

In the last two years, they have earned a crucial achievement in fintech legislation.

According to them, the administration will improve the fintech industry in spaces like open banking and private data firm in the future.

Few weeks ago, the Korean Financial Services Commission and other financial organizations had vowed to make combined endeavors to build a decent, fair environment for the financial technology market.

Director-General of FSC’s financial innovation division stated that they wish to see fintech firms attain prosperous outcomes of their businesses and because of this, they will always support them.

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