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Samsung to Support 21 Local Startups at CES 2021

Samsung to Support 21 Local Startups at CES 2021

SEOUL, Jan. 6 (Korea Bizwire) — Samsung Electronics Co., South Korea’s leading tech firm, said Wednesday that it will support 21 homegrown startups’ participation in the world’s largest tech expo next week as the company vows to bolster its startup incubator programs. Samsung said four projects from its in-house idea incubation program C-Lab Inside and [...]

Samsung Electronics Spins Off In-House Startups

Samsung Electronics Spins Off In-House Startups

SEOUL, Nov. 5 (Korea Bizwire) — Samsung Electronics Co. announced that it will support three startups created by Samsung employees as part of the company’s in-house venture incubation program, C-Lab Inside. C-Lab Inside was introduced in 2012 to promote a creative corporate culture as well as to explore employees’ innovative ideas. The three startups that [...]

Mobility Startup SOCAR Becomes Unicorn After Fresh Investment

Mobility Startup SOCAR Becomes Unicorn After Fresh Investment

SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s largest mobility startup SOCAR Inc. said Friday it has received 60 billion won (US$52.2 million) from two local private equity firms, becoming the latest “unicorn” company in the Asian country. The investments from SG Private Equity and Songhyun Investment pushed SOCAR’s valuation to over 1 trillion won. [...]

Gov’t Mandates Public Institutions to Buy 8 pct of Annual Procurements from Startups

Gov’t Mandates Public Institutions to Buy 8 pct of Annual Procurements from Startups

SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s public institutions have been mandated to buy 8 percent of their annual procurements from startups. The Ministry of SMEs and Startups announced that the revised enforcement ordinance of the SME Establishment Support Act was resolved at a cabinet meeting and would take effect from Thursday. Under the [...]

QMIT Monitors Athletes’ Pain for Their Best Performance

QMIT Monitors Athletes’ Pain for Their Best Performance

SEOUL, July 28 (Korea Bizwire) — Injuries are often considered an inevitable part of competitive sports. However, failing to promptly deal with repeated injuries can sometimes lead to professional players involuntarily retiring earlier than expected. Lee Sang-gi, CEO of South Korea’s tech startup QMIT Co., has learned such hard lessons from his past career as [...]