[THE INVESTOR] Hyundai Card, the financial unit of Hyundai Motor Group, has launched a co-working space for startups and fledgling entrepreneurs in Seoul on Jan. 3, as a part of its plan to advance as a venture capitalist.
At Studio Black, located in the Gangnam Station area of Seoul, young entrepreneurs can cultivate and nurture their respective projects with a carefully designed workspace and top-notch amenities, networking and intelligence.
“The users will be able to network with professionals -- tax attorneys, legal experts and others -- who have worked closely with Hyundai Card for a long time and know the elements of its success,” said a company official.
An open space called the flex room, which can seat up to 60 people, has been set up to offer networking and learning opportunities for the members as it provides lectures from Hyundai Card officials as well as renowned individuals from different fields to share their expertise and knowledge.
Studio Black also provides a device testing room that enables software developers to test their operation systems with various smart devices.
This is part of the efforts made by the country’s third-largest credit card firm to tap into the venture capital industry and acceleration businesses to facilitate young entrepreneurs’ projects.
In order to stay innovative, Hyundai Card is exploring various avenues to become a “digital company.”
It is currently working on developing a search engine, augmented reality, and customer recommendation algorithms, which it believes will create a synergy that will eventually transform into a catalyst for the company’s next phase.
Hyundai Card has also started a co-working space called Finbeta that is geared more toward tech-driven creators. Finbeta is situated in the same building as Studio Black, but the firm plans to be more involved in these tech startups by accelerating their businesses hoping that it will provide a synergy within its company.
By Alex Lee (firstname.lastname@example.org)