An investment of 136.4 billion won has been brought in by 16 fintech firms and startups in South Korea over the past year, according to the Financial Services Commission (FSC).
The investments came after the government discarded regulatory hurdles to the firms in developing financial services.
The FSC said that fintech firms and startups plan to release a total of 66 services before June.
Seven local fintech companies are eyeing to become unicorns by pursuing opportunities in 14 countries, including Hong Kong, Indonesia, Thailand, and Vietnam.
South Korea is relying on fintechs to help reinvigorate its struggling financial industry, which is hounded by slow growth and low earnings.
