innovation Archives | Be Korea-savvy
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 [...]

Korean Patent Office to Penalize ‘Free Riders’

Korean Patent Office to Penalize ‘Free Riders’

SEOUL, Jan. 29 (Korea Bizwire) – When it comes to innovation and new business models, free rider problems are among the most discouraging practices in the tech industry. Start-ups and SMEs have complained incessantly that conglomerates snatch away and make illicit use of fresh new ideas originally conceived by bright-minded entrepreneurs, thereby severely damaging their [...]

Korea’s “Innovation Centers” Bearing Fruit, with Uncertain Future

Korea’s “Innovation Centers” Bearing Fruit, with Uncertain Future

SEOUL, Dec. 30 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning announced Thursday some of the most successful ventures by startups and SMEs funded or supported by the Center for Creative Economy & Innovation.  One of the companies introduced was 247 Korea, which manufactures a self-protection smartphone case that can automatically send [...]

Bi-Direction Wheelchair Wins Idea Competition

Bi-Direction Wheelchair Wins Idea Competition

DAEJEON, Nov. 10 (Korea Bizwire) – The grand prize (Presidential Award) at the 2016 University Competition for Original Inventions went to a team from Cheongju University for their “bi-directional wheelchair”.  The idea is to remove the inconvenience of conventional wheelchairs that only allowed patients to sit in a single direction, which made it uncomfortable or [...]

Creative Economy Online Platform Brings 30 Bln Won Revenue

Creative Economy Online Platform Brings 30 Bln Won Revenue

SEOUL, Sept. 28 (Korea Bizwire) – Nearly 30 billion won (US$27 million) in revenue was generated from an online platform to commercialize creative ideas in the past three years, the science ministry said Wednesday.  In September 2013, the government launched the website, “creative economy town,” that invites anyone to post and market creative ideas. The [...]

How Should Companies Cope with a Rapidly Changing Business Environment?

How Should Companies Cope with a Rapidly Changing Business Environment?

SEOUL, Aug. 2 (Korea Bizwire) – The Korean economy is changing, with startups meeting both success and failure, and companies that fail to adapt to the new market realities will eventually perish. In a recent survey conducted by the Korea Chamber of Commerce & Industry (KCCI) and 71 regional organizations, 49.9 percent of 2,400 surveyed [...]

New Ideas Might Help Change Children’s Image of Hospitals

New Ideas Might Help Change Children’s Image of Hospitals

SEOUL, June 7 (Korea Bizwire) – Hospitals are often a child’s worst nightmare, but some recent developments might make them more inviting places. A total of 14 teams participated in the Seoul City Health Care Make-A-Thon, which took place on May 21 to 22, where 70 contestants from 15-year-old students to doctors and nurses came [...]

President Park Says Innovation Is at the Heart of Survival Strategy

President Park Says Innovation Is at the Heart of Survival Strategy

SEOUL, May 17 (Korea Bizwire) – South Korea should relentlessly seek a “path of innovation” rather than resting on its past laurels, President Park Geun-hye said Tuesday, underscoring that innovation is at the core of the country’s survival strategy amid a global economic slowdown. During a forum in Seoul, Park highlighted that South Korea has [...]