SEOUL, Oct. 5 (Korea Bizwire) – A recent survey has revealed that 42.7% of startup founders in South Korea view the current startup ecosystem negatively, highlighting growing concerns over the challenging business climate in one of Asia’s tech hubs. The survey, conducted by Google as part of its ChangGoo program, polled 100 startup leaders between September [...]
SEOUL, Jul. 23 (Korea Bizwire) – In a strategic move to secure a leading position in the next-generation artificial intelligence (AI) semiconductor market, Samsung Electronics is ramping up investments in AI chip companies. Industry sources reported on July 22 that the Samsung Catalyst Fund (SCF), a venture capital fund that operates under the Samsung Semiconductor Innovation [...]
SEOUL, May 30 (Korea Bizwire) – South Korea’s capital has opened a major anchor facility meant to serve as a control tower and nexus for its artificial intelligence industry, Seoul Metropolitan Government officials announced on May 29. The newly unveiled facility is located in the Umyeon-dong neighborhood of Seoul’s Seocho district. It will act as a [...]
SEOUL, Nov. 17 (Korea Bizwire) – In a landmark development, a dual-class voting rights system long advocated by the venture capital industry has been implemented in South Korea for the first time. Under this new framework, shares now carry a maximum of 10 voting rights each. In the past, there have been cases where company founders [...]
SEOUL, Sept. 3 (Korea Bizwire) — At a pharmacy or a clinic, pill counting is a common routine that pharmacists or pharmacy technicians have to undergo to ensure that an accurate amount of medication is distributed and a patient gets an accurate dosage. And it is also part of inventory management that druggists have to [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean digital health care startup HoneyNaps Co. said Monday its artificial intelligence-based sleep sensing software, Somnum, has won approval for sale from U.S. drug authorities. The U.S. Food and Drug Administration (FDA) granted Section 510(k) clearance, or premarket notification, to Somnum, demonstrating that the medical device is safe [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Electronics Inc. said Thursday it will join hands with U.S. investment firm Clearbrook LLC to raise more than US$100 million to invest in industries of the future, including digital health, renewable energy and artificial intelligence. The South Korean tech company said its North American Innovation Center (LG NOVA) [...]
SEOUL, July 9 (Korea Bizwire) – The 1997 sci-fi movie “The Fifth Element” features a futuristic city filled with flying cars zooming in and out of the gaps between buildings hundreds of meters above the ground. Some 26 years later, things have developed enough that it is feasible for people to think the world is [...]
SEOUL, April 26 (Korea Bizwire) — Hanwha Aerospace Co., an aerospace business unit of chemical-to-financial conglomerate Hanwha Group, has invested in an Israeli startup that is developing anti-jamming technology to prevent global positioning system (GPS) signal interference. The company on Tuesday announced its participation in the Series A investment round for infiniDome in collaboration with [...]
SEOUL, March 17 (Korea Bizwire) — Fashion retailers analyze all the previous years’ data to build a plan that offers the right kind of product at the right place, time, quantity and price. The process, called merchandise planning, involves selecting an item, designing the product and determining the ways to sell the product. But merchandise [...]