startup Archives | Be Korea-savvy
Gov’t to Set Up 500 bln Won Fund for Venture Startup Failures

Gov’t to Set Up 500 bln Won Fund for Venture Startup Failures

SEOUL, May 26 (Korea Bizwire) — The government plans to raise 500 billion won (US$447.5 million) in funds to help entrepreneurs at venture startups restart business when they fail, officials said Thursday. In South Korea, a failure in a venture startup often leads to ruin, prompting young entrepreneurs to shun risk-taking, which has been cited [...]

S. Korea Lags Behind Rivals in Attracting Foreign Talent

S. Korea Lags Behind Rivals in Attracting Foreign Talent

SEOUL, May 17 (Korea Bizwire) — South Korea lags behind rival industrialized countries in attracting talented foreign workers, various industry data showed Tuesday, despite the government’s effort to ease its visa issuance system to cope with the country’s declining labor force. The number of foreigners residing in South Korea jumped from 1.4 million in 2011 [...]

S. Korea Calls for Strengthened Technology Cooperation with Israel

S. Korea Calls for Strengthened Technology Cooperation with Israel

SEOUL, Apr. 10 (Korea Bizwire) — South Korea’s vice trade minister called for strengthened cooperation in technology with Israel Sunday to cope with the technology-driven fourth industrial revolution, the ministry said. Speaking to a forum in Tel Aviv, Jeong Marn-ki said South Korea and Israel can create synergy by combining Israel’s technological prowess and startup [...]

Samsung Launches Five Creative Initiatives as Startups

Samsung Launches Five Creative Initiatives as Startups

SEOUL, April 6 (Korea Bizwire) – Five new projects from Samsung Electronics’ incubation program, C-Lab, will soon launch as startups, the tech giant announced on Wednesday.  Bebefit is a smart baby carrier that makes it easier for parents to carry their children, with a “convertible hipseat” structure that allows the wearer to adjust the center [...]

S. Korea to Set up 113.5 Bln-Won Fund to Help Bio Startups

S. Korea to Set up 113.5 Bln-Won Fund to Help Bio Startups

SEOUL, March 27 (Korea Bizwire) – South Korea will establish a 113.5 billion-won (US$101.8 million) fund to nurture startups and venture firms in the bio sector to secure new growth engines, the science ministry said Monday. Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, [...]

Robotics Startup Makeblock Raises Over $30M in Series B Funding

Robotics Startup Makeblock Raises Over $30M in Series B Funding

SHENZHEN, China, Mar. 16 (Korea Bizwire) — Makeblock Co., Ltd, the STEM education and robotics startup, today announced it has closed a $30 million Series B round at a $200 million valuation led by Evolution Media China and Shenzhen Capital Group Co., Ltd. The funding supports Makeblock’s expansion into new markets, further product development and [...]

Gov’t to Offer 3 Tln Won in Support for Fintech Startups

Gov’t to Offer 3 Tln Won in Support for Fintech Startups

SEOUL, March 8 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday authorities will expand “systemic” support for nascent fintech firms in the country, with 3 trillion won (US$2.6 billion) earmarked for a three-year support project.  South Korea, known for its information and communication technology prowess, launched a government-led campaign in early 2015 to [...]