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| Kyobo Life Chief Operating Officer Yun Your-hyun, second from right, speaks with officials from fintech startups at the firm's headquarters in Gwanghwamun, Seoul, Wednesday. Courtesy of Kyobo Life |
Kyobo Life Insurance has opened a co-working space to be shared with budding fintech startups to boost closer communication and effective product development, the firm said Wednesday.
Three fintech firms specializing in healthcare have set up office on the 17th floor of the firm's headquarters in Gwanghwamun, Seoul.
They are among 12 fintech players selected via "Innostage," an open competition launched in July to choose up to three business partners for Korea's third-largest life insurer.
Innostage, a word combination of innovation and stage, is one of the firm's key future growth initiatives to become a digital leader via closer integration with fintechs.
"We expect the space will give competitors a working environment that not only helps with creative work but also easy communication with us whenever the need arises," a Kyobo official said.
"Instant meetings will be arranged to help discuss ongoing projects. The firm, in the process, will be able to provide full support without delay."
Innostage finalists will be given a chance to present their business models jointly developed with the firm's key departments by the end of the year.
Ideas deemed innovative and profitable will be launched as an official business project early next year.





































