WeWork announced that one of its Seoul locations will be used as a venue to foster fintech startups in the city.

The fintech laboratory, operated by the Seoul Metropolitan Government, will be located in the company’s Yeouido office, which is apart of the financial district and home to 32% of all financial institutions in the country.

Over a dozen fintech startups will have access to use shared office spaces at this location for free for two years and the city government will offer mentoring and networking programs in partnership with financial firms.

“With the launch of the second lab, Yeouido will become a fintech industry hub based on new financial technologies as well as the existing traditional businesses in the area, such as asset management and securities firms,” said Cho In-dong, deputy mayor for economic development at Seoul Metropolitan Government.