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Woori Financial Group of Korea established

Woori Financial Group of Korea established "DINNOlab Vietnam"

Hanoi, October 25, 2019

Woori Financial Group organized the launch of "DINNOlab Vietnam" and "Fintech Demo day" in Hanoi on October 24, 2019.

This is the annual support activity of the Woori Group for the elite Korean Fintech startups.

The ceremony announced 5 Korean startups would receive support about the workspace and entering the Vietnamese market. This is the annual support activity of Woori Group for Korea's elite Fintech startups.

In the future, Woori Financial Group will also promote investment in prominent Fintech enterprises of Vietnam and promote the expansion of connection with Woori Bank Vietnam, especially looking forward to the cooperation between Fintech Korean / Vietnamese businesses with Woori Bank Vietnam.

Speaking at the launching ceremony on the 24th, Chairman of South Korean Woori Financial Group - Mr. Son Tae Seung said: "DINNOlab (Digital Innovation Lab) Vietnam" is a Fintech Lab in Hanoi to support startups being keen on entering the Southeast Asian market.

The "Fintech Demo Day" was also held on the same day, with the attendance of Korean representatives including Mr.Choi Hoon, Standing Committee of the Finance Committee; Mr. Lee Dong Yeun, Representative Director of Woori FIS and Information Technology Director of Woori bank news; Mr. Jung Yoo shin, Chairman of Korea Fintech Support Center; Mr. Jung Woo Jin,  Consulate General of the Korean Embassy in Vietnam, and the leader of Vietnam Financial Supervisory Commission, VCs of the two countries.

Through the introduction of "DINNOlab Vietnam", Woori Financial Group is able to provide office space and infrastructure for Korean Fintech businesses who want to enter the Vietnamese market, support them in order to stabilize in the Southeast Asia market, to become a successful global Fintech enterprise in Vietnam. Moreover, in the second phase of the project, it is seeking and investing for Vietnam's elite Fintech businesses, expanding the business to connect with Woori Bank Vietnam.

At the launching ceremony, VNPT Epay and Woori Bank Vietnam signed a memorandum of understanding and cooperation in various electronic finance fields: Firm banking or payment of utility expenses, fees in building/apartment management via virtual account (deposit account); contribute to building a cashless payment society in Vietnam. 

The Korea Fintech Support Center has cooperated with the Vietnam Fintech Association to organize the Fintech Demo Day to introduce the Fintech industry, investment trends in Korea and Vietnam. The event is also an opportunity for Fintech businesses to introduce themselves and Fintech exhibition booth, exchange 1 on 1 business cooperation, attract investment connecting VC capital (Venture capital), and interact with other involved businesses are involved. 

The leader of Woori Bank Vietnam said: "The birth of DINNOlab Vietnam center" is a turning point opening a new page in searching - cooperation - exchanges between startups of the two countries Vietnam and South Korea. 

He also expressed his hope that through cooperation between Woori- DINNOlab Vietnam and Fintech businesses, it is possible to expand electronic financial services such as firm banking, virtual accounts, and taking the lead in forming the financial ecosystem in Vietnam in the near future. 

With the advantage of a long-standing and strong financial group in Korea, Woori Financial Group - Woori Bank Vietnam wishes to provide the best service to customers and contribute to the overall development.

Source: VnEconomy 

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