SEOUL, July 10 (Korea Bizwire) – Over six in ten startups in South Korea that initiated crowdfunding this year successfully managed to fund their business ideas, with around 15 projects getting help every month. According to a statement from the Financial Services Commission (FSC) on Sunday, since a crowdfunding platform was introduced last year, 197 [...]
SEOUL, April 14 (Korea Bizwire) – Crowdfunding was a rather alien concept in South Korea up until 2015, when a revision to the Capital Market Act was passed by the National Assembly, paving the way for a practice called equity crowdfunding. Unlike reward-based crowdfunding, which compensates sponsors with different prizes, equity crowdfunding allows the investor [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea said Tuesday it will ease some restrictions on the ceiling of how much people can invest through crowdfuding. Currently, the general public is allowed to invest up to 5 million won (US$4,370) per year due to the risks involved with the new type of investment mostly based [...]
SEJONG, Jan. 29 (Korea Bizwire) – Crowdfunding fared well last year when the idea of raising money from a large number of people made its debut in Korea. The success rate in funding through this alternative way of raising money reached nearly half of overall funding rounds with about 18 billion Won being raised. According [...]
SEOUL, Dec. 12 (Korea Bizwire) – Crowdfunding is constantly spreading in South Korea as an effective option for both startups and investors, less than a year after the platform was introduced here, government data showed Monday. More than 100 firms, mostly those in the manufacturing, ICT and film-making sectors, have raised a total of 16.3 [...]
SEOUL, Nov. 7 (Korea Bizwire) – The latest product by Korean startup Luxrobo brings IoT to a whole new level. Unlike most IoT devices that come as a single complete product (i.e. robot vacuum), Luxrobo’s “MODI” allows users to turn electronics or household appliances of their choosing into IoT devices, using technology that the company [...]
SEOUL, Aug. 25 (Korea Bizwire) – The South Korean market for so-called equity crowdfunding has been gaining momentum recently on growing investor interest amid ultra-low interest rates, industry sources said Thursday. Also referred to as crowdinvesting, equity crowdfunding is the online offer of unlisted shares and corporate bonds to a group of investors. In January, [...]
SEOUL, Aug. 8 (Korea Bizwire) – Crowdfunding is not an unknown concept in Korea, but it certainly isn’t a well-established one. However, the recent success of Operation Chromite, a Korean War blockbuster film loosely based on real-life events, has signaled a bright future for Korean crowdfunding ventures. A total of 500 million won ($448,000) was [...]
SEOUL, June 15 (Korea Bizwire) – The movie “The Hunt” starring Ahn Sung-ki and Cho Jin-woong successfully finished a round of crowdfunding on Tuesday, June 14. The Hunt Crowdfunding Corporation, established exclusively to raise funds for the movie, started attracting funds on June 13, with the goal of raising 300 million won. By 2 p.m. on [...]
SEOUL, May 4 (Korea Bizwire) – A male pygmy hippopotamus that has been living alone at Seoul Grand Park will have a chance to extend the life of his species, as Seoul Grand Park will import a female pygmy hippopotamus from Britain’s Colchester Zoo in September. The park brought the male from Japan in 1984, along with a [...]