SEOUL, Sept. 28 (Korea Bizwire) – Less than one-third of small enterprises survive past five years, the toll heaviest on finance and insurance businesses, a report showed Wednesday. According to the Small and Medium Business Administration which submitted the report to the parliamentary trade committee, only 29 percent of small-scale enterprises that opened in 2008 [...]
SUWON, Sept. 23 (Korea Bizwire) – Gyeonggi Province’s efforts to encourage food truck businesses will soon expand to “food bicycles” or “food bikes”. The province has been encouraging food truck enterprises in its cities as part of its endeavor to create more jobs for youth and those in the lower income classes. Following the province’s [...]
SEOUL, Aug. 26 (Korea Bizwire) – President Park Geun-hye on Friday visited a festival, designed to showcase the outcome of her “creative economy” drive, urging the public and business sectors to step up cooperation in creating jobs and fresh momentum for economic growth. The “Creative Economy Innovation Center Festival” at Seoul’s Hanyang University brought together [...]
SEOUL, Aug. 18 (Korea Bizwire) – Smaller startup and emerging companies are boosting their shipments abroad despite a prolonged downturn in Korea’s export sector. According to the Korea International Trade Association (KITA), while Korea’s total exports from January to July 2016 decreased by 10.1 percent compared to the same period last year, exports by emerging [...]
SEOUL, Aug. 17 (Korea Bizwire) – The final stages of the 2016 K-Startup Grand Challenge took place Wednesday at the Pangyo Startup Campus in Seongnam, with international experts and businessmen and women from various fields ranging from artificial intelligence and virtual reality technology to UAVs and videogames in attendance. A total of 2,439 teams from [...]
SEOUL, Aug. 2 (Korea Bizwire) – WeWork, an American company that provides shared workspaces, has opened its first office in Gangnam. The company currently operates over 100 offices in 30 cities around the world, providing business-to-business networking opportunities, and establishing business communities to help promote startups, entrepreneurs, and small businesses. “Seoul has long functioned as [...]
SEOUL, Jul. 19 (Korea Bizwire) — Samsung Electronics’ mergers and acquisitions over the past 10 years indicate the tech mogul is betting its business on cloud and business-to-business services, corporate watchers said Tuesday. Samsung pushed through 22 M&As since 2007, including Canada’s digital ad startup AdGear in May and U.S. cloud computing firm Joyent in [...]
SEOUL, July 8 (Korea Bizwire) – Naver, Korea’s leading web portal, decided to discontinue its latest translation service, Chamyeo-Bonyeok Q (‘Participate, Translate Q’), after facing criticism that the new platform was very similar to an existing translation service offered by a start-up company, Flitto. Chamyeo-Bonyeok Q was launched less than a month ago (June 17) with [...]
SEOUL, June 14 (Korea Bizwire) – The South Korean government said Tuesday it has begun a full-fledged campaign to help local cybersecurity startups operate in the United States. The Korea Innovation Center (KIC) in Washington D.C. has agreed to team up with the MACH37 Cyber Accelerator, a Virginia-based agency specializing in supporting the launch of [...]
SEOUL, May 23 (Korea Bizwire) – Innomdle Lab, a local spin-off of Samsung Electronics, is scheduled to start production later this year of smart straps for smartwatches that enable one to make calls by pressing a finger to the ear, company officials said Monday. Mass production is expected to begin some time in October, officials [...]