1516T2g1 South Korea/Project Teams/Team 1/Companies

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Trip Itinerary

Cast & Roles

Project Teams

Organization

Reflection

Team 1

Team 2

Team 3

Team 4

Team 5

Team 6

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Team 9

Team 10

Team 11

About Us

Our Companies

We researched and visited two companies 1) Rainist Co 2) Finotek

Rainist Co

Business Model

Areas of focus:

Finotek

Business Model

Areas of focus: Cloud-based mortgage processing mobile application.

Philosophy: Sincerity and trust. “growing with employees and ultimately customers”

Strategy: Serving local banks.

Expansion plans:

• Took part in German Fintech consortium
• Aim to list in NASDAQ, Aim
• Program to collaborate banks, 100,000 cases using this loan platform
• Sell API to foreign companies, regulatory issues will be settled the foreign companies

Solution:

Result:

• 78% reduce in fees
• 2-3 days process reduced to 30 minutes

Learning Points

• Kim Woo-Su, CEO of Finotek shared with us three core factors in building a great business:

1. Have foresight; read more books, think and analyze with a logical mind
2. Passion in people and building people; unite individuals through same dream and goal
3. Endurance; “the future will come at a time which we least expect”, so one must be prepared. They did not give up amidst the tough environment and risks for 8 years

• A great business should be founded upon sincerity and trust in every decision or transaction.
• Focus on the employees, the customers will naturally be taken care of.
• Be ambitious – Finotek’s passion drives strong ambition which they aim to IPO in NASDAQ and Aim in the near future.