EBCoin Exclusive Partner Selected for Lotte Accelerator Program

EBC Foundation has announced the launch of Chain Refund, which will act as an exclusive partner for EBCoin’s tax-refund service in South Korea.

The most noteworthy part about the formation of this new company is that it has been selected to be part of the next installment of “L-Camp”, a bi-annual business incubation program sponsored by Lotte Accelerator Corporation.

About Lotte Accelerator

Lotte Accelerator identifies and fosters start-ups with innovative ideas in emerging business sectors, including fintech, big data, and artificial intelligence. The initiative aims to leverage the entire infrastructure and business of the Lotte Group including retail, logistics, tourism and finance, to support aspiring entrepreneurs so that their passion and ideas can develop into global companies.

The support provided through Lotte Accelerator also creates a new paradigm in shared growth by partnering with government organizations and programs such as the Creative Economy Innovation Center and Entrepreneurial Incubation Center.

Chain Refund L-Camp Selection

We are very proud that Chain Refund has been selected out of 600 applicants to be part of the next L-Camp starting on February 2. In total, 50 companies have been selected as finalists by Lotte, with the final selection to be made later in February following presentations that will be made by each applicant.

If Chain Refund is selected as one of the final 20, a variety of support by the Lotte Group will be available:

  • Initial capital investment
  • Mentoring and coaching
  • Lotte Group infrastructure test bed
  • Investment and collaboration among affiliates

Furthermore, seeing as the primary offering of Chain Refund is centered around EBCoin’s tax refund service, it is expected that this service will also be integrated with subsidiaries of Lotte Group itself. This cooperation will be specifically aimed at Lotte Department Store, Cube Refund, and Lotte Department Store.

The Bigger Picture

At EBCoin we are thrilled at the prospect of a joint venture with an organization like the Lotte Group. We also welcome this selection as an affirmative validation of our business concept and of the value proposition offered by our revolutionary tax-refund platform.

To read more about our project, please see the articles below for more information:

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