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S. Korea to Set Up 300 bln-won Fund for Fintech Unicorns

S. Korea to Set Up 300 bln-won Fund for Fintech Unicorns

SEJONG, Dec. 4 (Korea Bizwire) — South Korea plans to set up a fund of 300 billion won (US$252 million) to help fintech startups become unicorns with a valuation of more than US$1 billion, Finance Minister Hong Nam-ki said Wednesday. Hong made the remarks at a meeting with economy-related ministers in Seoul to discuss how [...]

Startups Thank Chamber of Commerce Chief for Support

Startups Thank Chamber of Commerce Chief for Support

SEOUL, Nov. 4 (Korea Bizwire) — A South Korean business executive who has been actively working for startups in the financial sector that have been trying to navigate murky regulations is gaining praise from the industry. Recently, Kim Sung-joon, CEO of startup Lendit, a peer-to-peer (P2P) lender, said on SNS that “A major incident has [...]

Tech Startups Bring Changes to Conservative Construction Sector

Tech Startups Bring Changes to Conservative Construction Sector

SEOUL, Oct. 11 (Korea Bizwire) — The construction segment, traditionally considered to be somewhat conservative and manpower-reliant, is bracing for a change with more and more tech startups in queue to instill a new breath into the industry — digitalization that could boost efficiency and productivity. According to data from the Korea Institute of Startup [...]

Seoul to Massively Cultivate Startup Workforce

Seoul to Massively Cultivate Startup Workforce

SEOUL, Sept. 5 (Korea Bizwire) — The Seoul city government will nurture 10,000 workers to prepare them for the fourth industrial revolution and to combat unemployment through startups, Seoul Mayor Park Won-soon said Thursday. “We will work with the central government and operate an ‘Innovation Academy’ in November to train 2,000 youngsters who will play [...]

Gov’t Chooses Site for “Korean Silicon Valley”

Gov’t Chooses Site for “Korean Silicon Valley”

INCHEON, Jul. 12 (Korea Bizwire) — The Korean version of Silicon Valley will be created in Incheon. The Ministry of SMEs and Startups said Thursday that Tomorrow City complex in Incheon’s Songdo District, has been selected as the result of a public offering by local governments nationwide. To this end, the “2019 Start-up Park Creation [...]

Hyundai Card Launches Program to Help Startups Go Abroad

Hyundai Card Launches Program to Help Startups Go Abroad

SEOUL, Jul. 2 (Korea Bizwire) — Hyundai Card, South Korea’s leading credit card service provider, has set up a new partnership with global networking company Techstars to help startup businesses here go abroad, the company said Tuesday. “With this partnership, Hyundai Card will offer a support program to enter the global market for the members [...]

Seoul City Offers Subways, Roads as Testbeds for Innovative Technology

Seoul City Offers Subways, Roads as Testbeds for Innovative Technology

SEOUL, May 28 (Korea Bizwire) — The Seoul Metropolitan Government (SMG) announced on Monday that it will invest 150 billion won (US$126 million) until 2023 to support innovative businesses. The city will kick off the project this year by investing 10 billion won to test various technologies developed by 50 companies. Participating companies will be [...]