SEOUL, Aug. 21 (Korea Bizwire) — The South Korean government will launch a nationwide refund program this fall that reimburses consumers for part of their credit card spending in an effort to revive household demand and support small businesses. The Ministry of SMEs and Startups said Wednesday that the “Coexistence Payback” scheme will run from [...]
DAEJEON, South Korea, April 15 (Korea Bizwire) — Startups founded by alumni and faculty of the Korea Advanced Institute of Science and Technology (KAIST) have emerged as a driving force in South Korea’s innovation economy, with 20 companies going public over the past four years and a combined market capitalization exceeding ₩10 trillion (approximately $7.1 billion). [...]
LAS VEGAS, Jan. 9 (Korea Bizwire) — Eureka Park, a dedicated space for startups and emerging entrepreneurs at CES 2025 in Las Vegas, serves as a showcase for creative ideas and innovations, attracting tech-savvy visitors and representatives from global tech companies. This year, 625 South Korean startups participated, presenting technologies in fields such as artificial [...]
SEOUL, Mar. 29 (Korea Bizwire) – The number of one-person creative enterprises in South Korea reached 987,812 in 2021, a 7.7 percent increase from the previous year, the Ministry of SMEs and Startups announced on March 28. This growth rate outpaced the 5.8 percent increase in the total number of new businesses during the same period. [...]
SEOUL, Jan. 31 (Korea Bizwire) – A recent survey has revealed that more than half of South Korean startups are concerned that the Platform Competition Promotion Act (PCPA), pushed forward by the Fair Trade Commission, could adversely affect the startup ecosystem. Startup Alliance, a non-profit organization, surveyed 106 founders and co-founders of domestic startups from January [...]
SEOUL, May 31 (Korea Bizwire) — The number of startups in South Korea dropped more than 4 percent in the first quarter of the year amid economic uncertainties at home and abroad, government data showed Wednesday. A total of 333,000 new companies were set up in the country in the January-March period, down 4.4 percent [...]
SEOUL, May 1 (Korea Bizwire) — South Korean startups are carrying out intensive restructuring amid lingering concerns over the state of financial markets ignited by the collapse of the United States-based Silicon Valley Bank (SVB). Zigbang, the country’s top home-matching platform, began conducting individual interviews regarding annual evaluation results starting this month and pushed many [...]
SEOUL, March 3 (Korea Bizwire) — The number of startups in South Korea fell more than 7 percent in 2022 from a year earlier amid a sluggish property market, government data showed Friday. A total of 1.317 million new companies were set up in the country last year, down 7.1 percent from a year earlier, [...]
SEOUL, Nov. 24 (Korea Bizwire) — The Ministry of Land, Infrastructure and Transport said Wednesday that South Korean companies held a joint demonstration of urban air mobility (UAM) aircraft at Gimpo Ara Marina in western Seoul. A UAM flight demonstration by local startups V Space and Voltline took place as part of the proceedings. The [...]
SEOUL, Nov. 24 (Korea Bizwire) — When Joung Ji-won, the founder and CEO of Algocare Lab, decided to apply for a venture incubator program of Samsung Electronics Co. last year, her startup was in its third year of operation and already recognized for its innovative ideas for personalized nutrition management. Still, she found it challenging [...]