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Exports by Startups to Hit Record US$20 Billion This Year: KITA

Exports by Startups to Hit Record US$20 Billion This Year: KITA

SEOUL, Oct. 27 (Korea Bizwire) — Exports by South Korea’s venture startups will likely hit a record US$20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday. The amount reached $14.7 billion for the first nine months this year, up [...]

S. Korea, Missouri Sign MOU on SMEs Promotion

S. Korea, Missouri Sign MOU on SMEs Promotion

SEOUL, Sept. 29 (Korea Bizwire) — The South Korean government said Friday it has signed a memorandum of understanding (MOU) with the state of Missouri to enhance cooperation between small and medium-sized enterprises (SMEs). The pact was signed in Seoul between Choi Su-gyu, vice minister of SMEs and Startups, and Missouri Gov. Eric Robert Greitens, [...]

Bank Investment in Tech Startups Soars in H1

Bank Investment in Tech Startups Soars in H1

SEOUL, Sept. 28 (Korea Bizwire) — South Korean banks sharply scaled up their investment in tech startups in the first half of the year with their lending to the sector climbing solidly, the financial regulator said Thursday. Domestic lenders’ investment in low-credit startups with a high level of technology stood at some 1.2 trillion won [...]

Crowdfunding in S. Korea Soars 29 pct This Year

Crowdfunding in S. Korea Soars 29 pct This Year

SEOUL, Aug. 25 (Korea Bizwire) — The amount of crowdfunding in South Korea shot up nearly 29 percent this year, data showed Friday, showing the platform growing as an effective financing option for startups. According to the data by the Korea Securities Depository, 106 companies raised a combined 14.2 billion won (US$12.6 million) from 5,826 [...]

Gov’t to Set Up 500 bln Won Fund for Venture Startup Failures

Gov’t to Set Up 500 bln Won Fund for Venture Startup Failures

SEOUL, May 26 (Korea Bizwire) — The government plans to raise 500 billion won (US$447.5 million) in funds to help entrepreneurs at venture startups restart business when they fail, officials said Thursday. In South Korea, a failure in a venture startup often leads to ruin, prompting young entrepreneurs to shun risk-taking, which has been cited [...]

S. Korea Calls for Strengthened Technology Cooperation with Israel

S. Korea Calls for Strengthened Technology Cooperation with Israel

SEOUL, Apr. 10 (Korea Bizwire) — South Korea’s vice trade minister called for strengthened cooperation in technology with Israel Sunday to cope with the technology-driven fourth industrial revolution, the ministry said. Speaking to a forum in Tel Aviv, Jeong Marn-ki said South Korea and Israel can create synergy by combining Israel’s technological prowess and startup [...]

SK Telecom, Facebook to Launch Start-Up Incubator for Telecom Equipment

SK Telecom, Facebook to Launch Start-Up Incubator for Telecom Equipment

  SEOUL, Nov. 3 (Korea Bizwire) — SK Telecom Co., South Korea’s top mobile carrier, and Facebook Inc. will set up a start-up incubator in South Korea early next year to encourage people to launch start-ups for telecom equipment, company officials said Thursday. Details of the planned incubator, which will be established during the first [...]

Google Chief Stresses Importance of Deregulation

Google Chief Stresses Importance of Deregulation

SEOUL, Oct. 30 (Korea Bizwire) — Eric Schmidt, executive chairman of Alphabet Inc., the holding company of Google Inc., said Friday that flexible regulations will help South Korea amid the protracted economic slowdown.    “I know that your country is seeing an economic slowdown. My recommendation would be to adopt more flexible regulations to unleash the [...]

LG Uplus, Qualcomm to Support S. Korean Startups

LG Uplus, Qualcomm to Support S. Korean Startups

SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s No. 3 mobile carrier, LG Uplus Corp., said Wednesday it would work together with U.S. tech giant Qualcomm Inc. to support local startups, especially for those with business projects related to the Internet of Things (IoT) industry. Under the move, LG Uplus and Qualcomm will chip in [...]

Students Volunteer between Classes to Earn Meal Plans for Needy Students

Students Volunteer between Classes to Earn Meal Plans for Needy Students

SEOUL, Jul. 7 (Korea Bizwire) — University students from seven universities in Korea are increasingly volunteering to work as part-timers between classes at various nearby workplaces to receive university meal plan tickets as wages, and donate them to students who are having financial difficulties. The volunteering is part of a venture-project that started at Hanyang [...]