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Wed, February 2, 2022 | 20:28
Companies
KB joins hands with PLUG and PLAY to support domestic startups
Posted : 2019-07-31 18:14
Updated : 2019-07-31 19:59
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KB Financial Group Chairman Yoon Jong-kyoo, left, shakes hands with PLUG and PLAY CEO Saeed Amidi at the platform company's headquarters in Sunnyvale, California, April. / Courtesy of KB Financial Group
KB Financial Group Chairman Yoon Jong-kyoo, left, shakes hands with PLUG and PLAY CEO Saeed Amidi at the platform company's headquarters in Sunnyvale, California, April. / Courtesy of KB Financial Group

By Jhoo Dong-chan

KB Financial Group has inked a strategic partnership with PLUG and PLAY to support domestic startups' entry to the global market, the financial group said Wednesday.

Based in Sunnyvale, California, PLUG and PLAY is an early stage investor and corporate innovation platform running two programs per year in each industry and region. It now has 300 corporate partners and 200 venture capitalists in its ecosystem.

Before the deal, KB Financial Group Chairman Yoon Jong-kyoo visited the PLUG and PLAY headquarters in California, April, to share the group's incubating system for fintech startups. Both parties have since interacted with each other to strengthen their ties.

Under the deal, KB has been nominated as one of PLUG and PLAY's anchor members granted access to the firm's list of global industry-leading startups. It has granted investment in these firms and recommends startups registered in the group's incubator program KB Starters.

"The partnership with PLUG and PLAY will be a great opportunity for KB Starters startups," Yoon said. "The group will do its best to support these startups' entry to the global market."

PLUG and PLAY CEO Saeed Amidi also welcomed the deal.

"KB Financial Group is one of the most innovative financial firms. The partnership will bring about more innovations in the global market," Amidi said.

As of February, KB Financial Group is supporting 62 fintech startups at the incubator center.

These 62 startups have so far clinched 85 partnership deals, while attracting 15.9 billion won ($13.36 million) worth of investment from the financial group's subsidiaries.


Emailjhoo@koreatimes.co.kr Article ListMore articles by this reporter



 
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