KB Financial Group said Thursday it is making efforts to support the overseas expansion of homegrown startups.
The financial giant held a launch ceremony for KB Global Fintech Lab in Singapore, with Kim Moon-hwan, director of the Korea SMEs and Startups Agency, local startup officials and KB executives including KB Financial Group Vice Chairman Yang Jong-hee in attendance.
The newly launched lab will support domestic and international startups entering the global market and help them utilize global technologies, according to the firm.
In addition, the lab will play a key role in discovering promising startups and linking them with partnerships and investments using KB’s global network.
Along with the launch of the lab, KB selected four domestic startups as "KB Starters Singapore" and plans to provide them with chances to connect to global business partners. The selected companies are to receive office spaces in Singapore.
The selected startups include: Gomi, a e-commerce solution developer, SsenStone, a cybersecurity firm, Wavebridge, a cryptocurrency market index provider, and Horizon Technology, an artificial intelligence-based investment platform developer.
In addition, KB signed a business agreement with the Korea SMEs and Startups Agency to operate a public-private cooperation program for supporting startups.
"KB Financial has been supporting the growth of startups. We will continue to make efforts to discover more creative startups and let them enter the global market,” said an official from KB.