Britain's vote to leave the European Union last month has caused some worries that start-ups will relocate. Financial firms rely on the EU's "passporting" system, which allows them to sell their services across the bloc while being registered and regulated just in Britain, thus saving huge amounts of money by not having to set up shop in each member state. Ten London-based fintech start-ups have already made enquiries about moving to Berlin since the vote for Brexit, business development group Berlin Partner said on Monday. The cooperation agreement has regulatory approval from Britain's Financial Conduct Authority (FCA) and the Korean Financial Services Commission (FSC), and will enable the regulators to share information about financial innovation in their respective markets.

http://www.reuters.com/article/us-britain-southkorea-fintech-idUSKCN1021Z5