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LG Electronics Buys into U.S. Laundry Startup

LG Electronics Buys into U.S. Laundry Startup

SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s LG Electronics Inc. said Friday it recently purchased a stake in U.S. laundry startup Washlava and supplied it with washing machines and dryers. LG Electronics, however, didn’t disclose the level of its interest in the Tampa-based company, which operates smartphone-exclusive laundromats, or the amount invested. The electronics [...]

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 [...]

Carpool App Poolus to Share 10 pct of Profits with Users

Carpool App Poolus to Share 10 pct of Profits with Users

SEOUL, Nov. 27 (Korea Bizwire) — Poolus, a new carpool startup, has announced a plan to share its profits with its customers. According to the plan, Poolus will distribute “pool points” to users of its service, which can either be cashed in or exchanged for shares in the company. In addition, AI technology will be [...]

Samsung to Lend Hand in Fostering 500 Startups

Samsung to Lend Hand in Fostering 500 Startups

SEOUL, Oct. 17 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it will support 500 startups over the next five years in response to the government’s call to bolster the national economy and create more jobs. The project comes as a follow-up of Samsung Electronics’ announcement made in August, when it vowed to invest a [...]

Hyundai Motor Invests in U.S. Neuroscience Startup

Hyundai Motor Invests in U.S. Neuroscience Startup

SEOUL, Oct. 10 (Korea Bizwire) — Hyundai Motor Co., South Korea’s largest carmaker by sales, said Wednesday it has invested in a U.S. neuroscience startup in a move to develop automated vehicles. The strategic investment in Perceptive Automata aims to allow Hyundai Motor to secure artificial intelligence-related technologies which could be utilized in the fields [...]

S. Korean Startup Launches Beta Version of Ride-hailing Service

S. Korean Startup Launches Beta Version of Ride-hailing Service

SEOUL, Oct. 8 (Korea Bizwire) — South Korean mobility startup VCNC said Monday it has launched a new ride-hailing service in Seoul and an adjacent city with 11-seat vans in a move to get around a local transportation law. VCNC said hundreds of its passenger vans offer a service called Tada in Seoul and Incheon, [...]