Singapore’s Marvelstone Group has inked a memorandum of understanding (MoU) with the Seoul Metropolitan Government to improve bilateral fintech ties.

Under the agreement, the parties have committed to support Seoul-based fintech startups and expand opportunities for foreign investors to invest in these firms.

The agreement will facilitate collaboration in a range of areas such as investment and consultancy, and fund management.

The two parties also committed to launch a fintech hub in Seoul and join as a partner in the city’s fintech incubation centre.

Commenting on the partnership, Seoul Metropolitan Government director of investment promotion said: “I hope that through this MOU we can work together to grow Seoul’s potential in Fintech, while at the same time offering a huge opportunity for Marvelstone’s business, not just in terms of opening more Fintech centres but across all its initiatives in the new digital economy.”

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