Article 1 (Purpose) The purpose of this Ordinance is to prescribe the matters necessary for the fostering of and support for the fintech industry in Seoul Metropolitan City, thereby laying the foundations for the development of the fintech industry and enhancing its competitiveness so as to contribute to the vitalization of the local economy.

Article 2 (Definition) The definitions of the terms used in this Ordinance shall be as follows:
1. "Fintech industry" refers to an industry that supplies new technologies and/or services using information and communication technologies and other digital technologies to induce innovation in the financial industry.
2. "Fintech enterprise" refers to an enterprise that is engaged in the fintech industry.

Article 3 (Responsibilities of Mayor) The Seoul Metropolitan City Mayor (hereinafter referred to as the “Mayor”) shall formulate the policies necessary to promote the continuous growth and development of the fintech industry and to boost its competitiveness.

Article 4 (Relationship to Other Ordinances) Except unless otherwise provided in other ordinances, the fostering of the fintech industry, etc. shall be governed by this Ordinance.

Article 5 (Formulation of Master Plans, Etc.) (1) The Mayor shall formulate and implement a master plan every five years (hereinafter referred to as a “master plan”) for the organized fostering of the fintech industry.
(2) Each master plan shall include the following matters:
1. Matters concerning the directions for the provision of support to, and the goals of fostering, the fintech industry;
2. Matters concerning outreach, fostering, and support for fintech enterprises;
3. Matters concerning suggestions to improve the regulations pertaining to the fintech industry;
4. Matters concerning fintech industry events and the formulation of technology development and research projects, etc.;
5. Matters concerning the fostering of fintech industry experts;
6. Other matters deemed necessary by the Mayor
(3) The Mayor may formulate and implement an annual implementation plan to promote comprehensive plans. In this event, the results of the plan shall be assessed each year and the results considered in the next year’s implementation plan.

Article 6 (Fostering of the Fintech Industry, Etc.) The Mayor may promote the following matters to enhance the competitiveness of the fintech industry:
1. Surveys and analyses of the fintech industry market and the relevant technologies, and the provision of information from the foregoing;
2. The provision of consulting services, training, and information concerning startups and management in the fintech industry;
3. Support for technology development in order to promote the fintech industry;
4. Matters concerning the fostering of fintech industry experts, etc.;
5. Support for domestic and overseas exhibitions and technological competitions;
6. Other matters deemed necessary by the Mayor

Article 7 (Support for Fintech Enterprises, Etc.) he Mayor may offer the following support to fintech enterprises:
1. The Small and Medium Enterprises Nurture Fund operated for lending pursuant to the Seoul Metropolitan Government Ordinance on the Establishment and Management of the Small and Medium Enterprises Nurture Fund;
2. The credit guarantee of the Seoul Credit Guarantee Foundation established under the Regional Credit Guarantee Foundation Act;
3. Consulting and legal services related to financial regulations;
4. Support for attracting domestic and overseas investment, and for overseas expansion;
5. Support for domestic and overseas fintech-related networking;
6. Support for training to foster experts;
7. Other matters deemed necessary by the Mayor

Article 8 (Establishment and Functions of the Fintech Industry Policy Advisory Committee) (1) The Mayor may establish a Fintech Industry Policy Advisory Committee (hereinafter referred to as the “Committee”) to dispense advice on important matters concerning major policies and plans relevant to fostering and supporting the fintech industry and the implementation of such policies and plans.
(2) The Committee shall advise on the following matters:
1. Formulation of master plans and implementation plans;
2. Assessment of the performance and achievements of the master plans and implementation plans;
3. Other matters deemed necessary for fostering and supporting the fintech industry.

Article 9 (Committee Composition and Operation) (1) The Committee shall be composed of fifteen (15) or fewer members including one Chairperson, who shall be elected by and from among the members.
(2) The members shall be commissioned by the Mayor from among the following persons, while the chief in charge of fintech industry fostering and support shall serve as an ex officio member:
1. A member of the Seoul Metropolitan Council recommended by the Council;
2. An expert who has extensive knowledge of and experience in fostering and supporting the fintech industry;
3. A person otherwise deemed necessary to enhance the expertise of the advice offered.
(3) The number of members of one gender shall not exceed 6/10 of the commissioned members, pursuant to the main clause of Article 21 (2) of the Framework Act on Gender Equality: Provided, however, that the same shall not apply under the proviso of the same paragraph in cases where it is found that there is an unavoidable reason for non-compliance with this clause, such as a lack of experts of a certain gender in a given field, and the matter undergoes a resolution of the Gender Equality Working-Level Committee.
(4) The Committee shall be convened whenever an agenda arises, and shall be dissolved as a matter of course after deliberation and resolution.
(5) A Committee meeting shall be opened by the attendance of the majority of the members on the register, and shall make a resolution by the affirmative vote of a majority of the attending members.
(6) Matters concerning the composition and operation of the Committee that are not prescribed in this Ordinance shall be governed by the Seoul Metropolitan Government Ordinance on the Establishment and Operation of Various Committees.

Article 10 (Entrustment of Affairs) (1) To ensure the efficient promotion of efforts to foster and support the fintech industry, the Mayor may entrust all or a part of the affairs under this Ordinance to a specialized public institution or to an institution, corporation, organization, etc. with relevant expertise.
(2) Detailed matters such as the necessary methods and procedures in the event of entrustment under the foregoing paragraph (1) shall be governed by the Seoul Metropolitan Government Ordinance on the Entrustment of Administrative Affairs to the Private Sector.

Article 11 (Official Commendation) The Mayor may award an official commendation under the Seoul Metropolitan Government Commendation Ordinance to a person who has contributed to the fostering of fintech enterprises or the promotion of the fintech industry.

Addendum <No. 9611, May 19, 2025>
This Ordinance shall enter into force on the date of its promulgation.