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Recruitment of the 3rd Cohort of Resident Companies for the “Busan Fintech Hub”

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will recruit nine companies to reside in the “Busan Fintech Hub,” a space that supports the clustering and growth of companies in the fields of financial technology (fintech, big data, AI, etc.), from September 1 to September 17.

The “Busan Fintech Hub” is a specialized incubation platform created by the city to enhance the diversity of the fintech industry and support corporate growth. It operates across two spaces: “U-Space (Unicorn-Space, BIFC 11th–15th floors)” and “S-Space (Star-Space, Busan Chamber of Commerce & Industry 3rd floor),” and currently hosts 42 companies.

Earlier this year, two rounds of recruitment selected nine companies. Through this third recruitment, nine more capable startups with technological strengths and growth potential will be selected, further strengthening Busan’s fintech industrial ecosystem.

Selected companies will receive tailored growth support by stage, including shared office space (rent), commercialization funding, and capacity-building programs.

Eligible applicants are technology-based startups established within the past seven years that internalize IT and data capabilities and operate business models in fintech, digital transformation, or data-driven fields.

This recruitment will run from September 1 to September 17 at 5 p.m., and final resident companies will be selected through document review and presentation evaluation.

Details regarding application submission, recruitment procedures, and support programs are available on the website of the Global Fintech Industry Promotion Center (finpc.org).

Meanwhile, the “Busan Fintech Hub” goes beyond providing simple office space and has built a practical growth support system to help resident companies increase sales and create jobs. Thanks to this, companies have been achieving tangible results since moving in.

Since its opening in 2019, the hub has hosted a cumulative total of 97 resident companies by 2024, of which 31% have increased their sales more than tenfold after moving in. Particularly, the cumulative investment and financing secured by these companies grew from 4 billion KRW in 2020 to 71.2 billion KRW by the end of 2024.

For instance, Farmcove Co., Ltd., which moved in in 2022, transformed its refurbished product trading platform into a tech-fin (technology-based finance) business with the support of the hub. By expanding strategic investments and partnerships, the company accelerated technology development and business expansion, achieving approximately tenfold sales growth compared to when it first joined, thereby securing market competitiveness.

Similarly, SBX Co., Ltd., which joined in 2022, operates digital goods and membership-based e-sports fintech services. After moving into the hub, it experienced rapid growth, recording a 43% increase in sales in the first half of 2025 compared to the previous year, turning profitable and establishing a stable revenue structure.

Another example is Human Saves the Earth Co., Ltd., which launched Korea’s first shipping-specialized EU Emissions Trading System (EU ETS) platform in the field of carbon finance and carbon asset management. By doing so, it expanded its service domain into the convergence of environment and finance, creating an innovation case based on the Busan Fintech Hub.

As such, the resident companies of the “Busan Fintech Hub” are generating diverse achievements, including technological advancement, business model innovation, revenue growth, and entry into specialized global industrial fields. This demonstrates that the hub has established itself as a platform that supports startups’ growth and global expansion beyond mere incubation space.

Furthermore, startups from various industries that entered the hub are attempting to transform into fintech or tech-fin companies, indicating that the “Busan Fintech Hub” also plays the role of a collaborative cluster that brings together key industries of the region.

Jin-su Lee, Director of Financial Startup Policy at Busan Metropolitan City, stated, “The ‘Busan Fintech Hub’ is becoming a core platform that supports the sustainable growth of fintech startups and the expansion of their global networks. Through this third recruitment, we will spare no effort in helping promising companies broaden their investment and commercialization opportunities and grow together with Busan’s financial industry.” He also emphasized, “We will do our utmost to ensure that Busan leaps forward as Asia’s leading fintech innovation hub.”