Korea Fintech Industry Association

What Korea Fintech Industry Association does

Korea Fintech Industry Association (한국핀테크산업협회, KORFIN) is a Seoul-headquartered non-profit incorporated association (사단법인) founded in 2016 that functions as the primary representative body for Korea's fintech industry. It serves approximately 500 member companies spanning payments, lending, asset management, blockchain, insurance technology, security, and data services, including major operators such as Toss, KakaoPay, Naver Financial, Coupang Pay, Coocon, BDACS, and Hanpass. Its core activities are policy advocacy, regulatory coordination, industry research, division operations, education, and promotion — conducted through its Digital Economy Finance Research Institute (디지털경제금융연구원) and through direct collaboration with the Financial Services Commission (FSC), Financial Supervisory Service (FSS), Korea Fintech Support Center, KISA, KOSCOM, and MyData Center.

KORFIN operates a three-tier membership model (Regular, Special, and Associate Members) generating subscription-based revenue from member dues, supplemented by transactional fees from educational programs including a 5 mandatory statutory educations package (KRW 10,000 per person), AML online education (KRW 15,000 per person), and the Fintech Campus course series. The association distributes content via its website (korfin.kr), a Fintech News Briefing newsletter, press releases, seminars, forums, and the STEP online learning platform. It does not offer commercial products or services and has no proprietary technology platform — its core offering is institutional convening, regulatory access, and industry coordination rather than software or data products.

The association is governed by a Chairman (Kim Jong Hyun, CEO of Coocon) and a Vice Chairman slate drawn from CEOs of member companies representing the breadth of Korea's fintech ecosystem. Its strategic posture in 2026 has emphasized convening policy forums on AI in finance and digital asset regulation at the National Assembly, co-founding the Online Countermeasure Council Against Fraudulent Payments with FSS, and expanding educational offerings — signaling a shift from passive industry representation toward active regulatory agenda-setting.

Name

Korea Fintech Industry Association

Legal name

한국핀테크산업협회

Website

https://korfin.kr

Company type

Private

Founded year

2016

Operating status

Operating

Short description

Korea Fintech Industry Association (KORFIN) is a Seoul-based non-profit founded in 2016 that represents ~500 Korean fintech member companies, providing policy advocacy, regulatory coordination, research, and education programs in collaboration with the FSC and FSS.

Ownership category

akta.pro rank

Product category

Industry Association Services

akta.pro primary industry

Corporate Foundations & CSR Grantmaking (BPAGAKAC)

akta.pro secondary industries

Compliance Technology, GRC Platforms & Controls Automation Advisory (BPAHAFAO), Regulatory Reporting & Compliance Automation (FinCEN/CTR/SAR, EMIR/MiFID, etc.) (FSAGAFAG)

Keywords

• Fintech industry association
• Industry policy advocacy
• Industry research services
• Member education programs
• Industry networking events

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership dues and fees: KORFIN generates revenue through membership dues. The association has three tiers of membership: Regular Members (fintech operating legal entities or individuals), Special Members (legal entities performing tasks related to fintech industry promotion), and Associate Members (entities related to the fintech industry).

Pricing tiers

Distribution channels1 record

Marketing channels5 records

Core offering

Korea Fintech Industry Association (KORFIN, 한국핀테크산업협회) is an incorporated non-profit association founded in 2016 that represents approximately 500 fintech member companies in South Korea. It delivers policy advocacy, industry research, member education programs, division-based working groups, and promotional activities to support the growth of the Korean fintech sector.

Product overview

Korea Fintech Industry Association (KORFIN) is a non-profit industry association that represents and supports the Korean fintech ecosystem. It does not offer a commercial product or service platform. Its activities include policy advocacy, research, division operations, education, and promotion for its member companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Membership Program Annual membership for Korean fintech companies, providing representation in policy discussions, access to industry research, participation in working divisions, and member-only events and education.
• Policy Advocacy and Government Submissions Collective representation of member interests to Korean regulators and policymakers on fintech-related legislation and regulation.
• Industry Research and Reports Industry research, analysis, and reports covering the Korean fintech market for members and policymakers.
• Member Education and Training Programs Educational programs, seminars, and training courses designed for fintech member companies and professionals.
• Industry Working Divisions Specialized working divisions (분과) that allow member companies to collaborate on subsector-specific fintech topics.
• Industry Events and Promotion

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and major.

• 금융위원회 (Financial Services Commission, FSC)coreOthersPrimary financial regulator in Korea; KORFIN collaborates with FSC on fintech policy responses, research, and regulatory coordination.
• 금융감독원 (Financial Supervisory Service, FSS)coreOthersFinancial regulator overseeing financial institutions; KORFIN works with FSS on electronic financial transaction supervision and industry coordination, including joint hosting of the Electronic Finance Industry Council seminar.
• 한국핀테크지원센터 (Korea Fintech Support Center)coreOthersGovernment-supported fintech support organization; KORFIN collaborates on fintech promotion and member support activities.
• 한국인터넷진흥원 (Korea Internet & Security Agency, KISA)majorOthersGovernment internet and security agency; collaborates on blockchain and digital security initiatives.
• 코스콤 (KOSCOM)majorOthersKorea Financial Telecom & Information Co.; collaborates on financial technology infrastructure and data services.
• 마이데이터지원센터 (MyData Center)majorOthersGovernment-supported mydata initiative center; KORFIN collaborates on personal data portability and digital finance innovation.
• 디지털금융범죄대응연구소majorStrategic or Co-development PartnerCo-organized the National Assembly seminar on 'Corporate Market Opening and Safe Digital Asset Ecosystem Building' with KORFIN.
• 비댁스 (BDACS)majorStrategic or Co-development PartnerCo-organized the National Assembly seminar; presented on corporate digital asset market participation and independent custody importance.
• 핀테크AI협의회 (Fintech AI Council)majorStrategic or Co-development PartnerCo-hosted the National Assembly forum on 'AI Era: Redesigning Financial Systems' with KORFIN.
• 마이데이터AI포럼 (MyData AI Forum)majorStrategic or Co-development PartnerCo-hosted the National Assembly forum on AI in finance with KORFIN.
• 금융감독원 (FSS) - 온라인 부정결제 대응협의체coreStrategic or Co-development PartnerKORFIN co-founded the 'Online Countermeasure Council Against Fraudulent Payments' with FSS, including major PG companies, financial security experts, and academic advisors to strengthen fraud prevention and response systems.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hong Kong FinTech Association: Hong Kong's industry body for fintech firms, engaging with the HKMA and SFC on policy and ecosystem development. Comparable to KORFIN as an Asia-based industry association focused on member services, regulatory dialogue, and thought leadership.
• Australian FinTech: Australia's peak industry body for fintech, engaging with ASIC, the RBA, and Treasury. Directly comparable to KORFIN as a national fintech industry association running member programs, education, and policy advocacy.
• Fintech Association of Japan: Japanese fintech industry association engaging with the Financial Services Agency on policy, education, and member services. Closely comparable to KORFIN in function — industry representation, regulator liaison, and member programs in an Asian market.
• Korea Digital Finance Association (KODFA / 한국디지털금융협회): Domestic Korean industry body also representing fintech and digital finance members in policy dialogue with FSC, FSS, and Bank of Korea. Comparable to KORFIN as a competing/parallel Korean fintech industry association with overlapping member base and similar mandate.
• Innovate Finance: UK-based independent industry body that represents the UK fintech ecosystem and engages with the FCA, HM Treasury, and Bank of England. Comparable to KORFIN in mission (industry representation, policy advocacy, education) at a more mature scale.
• Singapore FinTech Association: National fintech industry association representing Singapore's fintech ecosystem. Directly comparable to KORFIN as the primary industry representative body that engages with the Monetary Authority of Singapore, runs education and policy advocacy, and convenes member companies across verticals.

Regional players

• European Digital Finance Association (EDFA): European-level industry association representing fintech and digital finance firms engaging with EU institutions. Comparable to KORFIN in function but operates at a multi-country regional level rather than a single national market.
• Abu Dhabi Fintech & Innovation Association (FinTech Abu Dhabi ecosystem body): ADGM-based ecosystem and fintech industry engagement body in the UAE, working with regulators including the Central Bank of the UAE. Comparable to KORFIN in convening industry and engaging regulators but focused on the Middle East market.
• Fintech Convergence Council (India): Indian fintech industry body engaging with RBI and other regulators on policy. Comparable to KORFIN in function but operates in a different geography (India), with similar member-driven advocacy and education programs.
• Brazilian Fintech Association (ABFintechs): Brazil's national fintech industry association engaging with the Central Bank of Brazil and other regulators. Comparable to KORFIN in representing the national fintech ecosystem, running member programs, and engaging on policy — but operating in Latin America.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korea Fintech Industry Association