SEOUL, Jun. 14 (Korea Bizwire) — Samsung Electronics Co. launched a new fund through its U.S.-based innovation strategy arm Samsung NEXT on Thursday, seeking to make investments in startups devoted to artificial intelligence (AI) technologies. Samsung NEXT said it has launched the NEXT Q Fund to invest in “early stage AI startups taking on grand [...]
SEOUL, Jun. 7 (Korea Bizwire) — A new payment system will be implemented aimed at addressing one of the top difficulties small businesses face, payment processing charges. Hong Jong-hak, the minister of SMEs and Startups, stated at a gathering relating to the issue today that an innovative payment system is needed to relieve small businesses [...]
SEOUL, Jun. 7 (Korea Bizwire) — Samsung Electronics revealed yesterday that it had selected three startups developed internally and discovered through “Creative Lab,” a program developed to nurture internal startups. With the three additional startups, the total number of startups supported by Samsung’s Creative Lab totals 34. The newly selected startups are Agwart, Catch Flow [...]
SEOUL, May 13 (Korea Bizwire) — A string of global blockchain companies have recently entered South Korea to start their business, including startup Steemit Inc., industry sources said Sunday. The U.S.-based Steemit — founded by Ned Scott in 2016 — is a social networking website that uses its own blockchain-based rewards platform for publishers. The [...]
SYDNEY, Australia, May 2 (Korea Bizwire) — As part of its third annual YPO Innovation Week, YPO will host Angels and Unicorns in Sydney, Australia, convening business leaders around the world to explore the best ways to invest in the unicorns of tomorrow. YPO Innovation Week is a series of more than 50 events conducted [...]
SEOUL, Apr. 25 (Korea Bizwire) — South Korean companies operating in China are being encouraged to make use of the Chinese government’s support for the creation of intellectual property. Speaking to South Korean business owners and students during a forum in Shanghai on Sunday, Seo Dong-wook, the director of the Shanghai branch of the Korean Cultural [...]
SEOUL, Mar. 22 (Korea Bizwire) — The government said Thursday it will invest heavily in the renovation of old industrial complexes across the country in the coming years so they can serve as incubator venues for startups set up by young people. The Ministry of Trade, Industry and Energy said it will put 132.8 billion [...]
SEOUL, Feb. 26 (Korea Bizwire) — The government said Saturday that it will extend exemptions on various charges for manufacturing startups, translating into sizable benefits going forward. The Ministry of SMEs and Startups said the recent passage of the small and medium enterprise (SME) support plan through parliament will permit newly founded companies to be [...]
SEOUL, Nov. 30 (Korea Bizwire) – The government said Thursday it will launch a state investment fund worth 4 trillion won (US$3.7 billion) next year for startups, in a fresh move to support young entrepreneurs in emerging industries. Officials at the Financial Services Commission (FSC) said the state-run Korea Development Bank will invest 850 billion [...]
SEOUL, Sept. 8 (Korea Bizwire) – Government funding for startups is bearing fruit after a report released on August 9 by the Korea Institute of Startup and Entrepreneurship Development and the Ministry of SMEs and Startups revealed that government-sponsored startups had hiring increases that were five to six times higher than at small and medium-sized [...]