The Korean Financial Services Commission and the Seoul Metropolitan Government have announced plans to invest $ 16 million in training of digital finance experts on February 4. 12. The application period to win the grant is 4-6 March.
The FSC explained that the demand for specialists in financial technology is increasing. The program aims to offer educational opportunities for the next generation of fintech professionals.
The program starts in the second half of 2020 and runs until 2023 in the financial center in the Yeouido district in the capital Seoul. It is open to employees of financial companies, founders of fintech companies and other job seekers in the sector.
There are two curricula for applicants to choose from: degrees and non-degrees programs. The master’s degree will recruit 80 students per year, while the professional training program for non-degree digital finance is open to 160 students with conditional financial support.
The content of the course is advanced theories and practical courses for intensive study of digital financial-related fields, including big data, cloud and blockchain.
Over the past two years, the Korean Financial Services Commission has made major breakthroughs in fintech legislation, including the special law on internet-only banks, the Fintech Innovation Support Act and the law on peer-to-peer loans. In the same announcement, the Financial Services Commission said that:
“The regulated sandbox was launched under the Fintech Innovation Support Act, and a total of 77” innovative financial services “were designated as of December 18, 2019 to test their ideas with legal exemptions. The government will further develop the fintech industry in areas such as open banking and private data activities in the near future. “