Samsung Group partners with major banks to foster fintech talent

From left, Woori Bank Chief Executive Officer Lee Won-duk, Kookmin Bank President Lee Jae-keun, Hark-Kyu Park President/CFO at Samsung Electronics Co., Shinhan Bank President Jung Sang-hyuk, Hana Bank President Lee Seung-Lyul, and Future for Youth Foundation Chairman Lee Hoon-kyu [Photo provided by Samsung]

Samsung Group has partnered with the four major banks in Korea - Shinhan Bank, Kookmin Bank, Hana Bank and Woori Bank - to foster fintech software talent.

On Monday, Samsung announced that it has signed a Business Agreement for Enhancing Youth Employment Competitiveness and Developing Digital Talent with these four banks at the Samsung SW Academy for Youth (SSAFY) Seoul Campus in Seoul.

The signing ceremony was attended by Shinhan Bank President Jung Sang-hyuk, Kookmin Bank President Lee Jae-keun, Hana Bank President Lee Seung-Lyul, Woori Bank Chief Executive Officer Lee Won-duk, Hark-Kyu Park President/CFO at Samsung Electronics Co. and Future for Youth Foundation Chairman Lee Hoon-kyu.

Through this agreement, the four major banks will create a fund totaling 2 billion won ($1.5 million), to donate to SSAFY through the non-governmental organization, Future for Youth Foundation, which collaborates with SSAFY. The donated funds will be used to support the education and employment of young people learning at SSAFY.

SSAFY is a social contribution program operated by Samsung, aimed at expanding the domestic SW ecosystem and enhancing youth employment competitiveness. Since its launch at the end of 2018, over 4,000 graduates have successfully found employment in over 1,000 domestic and international companies.

In particular, banks and other financial institutions have shown a keen interest in SSAFY talent and have increased their recruitment efforts. The number of SSAFY graduates employed in the financial sector has expanded from 33 in the first cohort to 138 in the seventh cohort. To date, a total of 726 SSAFY graduates have been employed in various financial institutions.