The Gig Economy Challenge was held in Malaysia for the first time this year to improve the financial situations of gig workers due to the coronavirus pandemic. In March, 110 teams from 21 member countries of Asia-Pacific Economic Cooperation (APEC) participated in the competition under the theme “Searching for solutions to improve the financial capabilities of gig workers”.
PAY:WATCH was the only South Korean team to be short-listed in the top 10, and after a total of three rounds in a period of six months, it was selected as one of the 3 winning teams. PAY:WATCH will receive a grant of USD30,000 and will be enrolled in a local pilot program that provides technical assistance worth USD100,000. In addition, it will benefit from establishing partnerships with financial institutions with the help of the Malaysia Digital Economy Corporation (MDEC).
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