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 [...]
SEOUL, Feb. 28 (Korea Bizwire) – More than half of people seeking to run their own business in South Korea are considering opening a cafe or a bakery, a survey showed Tuesday. In a survey of 4,625 people who have filed an online application to attend the upcoming International Franchise Seoul expo, 65 percent said [...]
SEOUL, Feb. 17 (Korea Bizwire) – South Korea on Friday announced a plan to nurture 100 ‘star’ venture firms in the science and technology sectors by 2020 to secure new economic growth engines. The Ministry of Science, ICT and Future Planning reported a set of measures to Acting President and Prime Minister Hwang Kyo-ahn to [...]
SEOUL, Feb. 15 (Korea Bizwire) – Nearly 6 in 10 South Korean venture companies go belly-up within three years after establishment due to an insufficient investment system and difficulties finding a market, a report showed Wednesday. According to the report compiled by the Korea Chamber of Commerce and Industry (KCCI), the number of venture startups [...]
SEOUL, Feb. 8 (Korea Bizwire) – Last year was a good one for new businesses, with entrepreneurs establishing a record 96,155 new ventures for a year-over-year increase of 2.5 percent from 93,788 in 2015. According to the Small & Medium Business Administration, the annual number of new businesses has been rising since 2008, which recorded [...]
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, Jan. 18 (Korea Bizwire) – South Korea will establish a 3.5 trillion won (US$2.9 billion) fund to nurture startups and venture firms in the science and technology sectors to secure new growth engines, the science ministry said Wednesday. Under the comprehensive plan announced by the Ministry of Science, ICT and Future Planning, the fund [...]
LAS VEGAS, Jan. 6 (Korea Bizwire) – Samsung NEXT (formerly Samsung Global Innovation Center) today announced at CES the creation of the Samsung NEXT Fund, a $150 million venture capital investment fund, to increase Samsung’s global support of early stage startups pursuing advanced software and services innovation. The Fund enables Samsung NEXT to build upon [...]
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 [...]