SEOUL, June 10 (Korea Bizwire) — South Korean conglomerate LG Group on Thursday inaugurated its startup support platform Super Start and unveiled a plan to foster 300 promising startups over the next three years by investing a total of 150 billion won (US$118 million). Super Start will serve as a bridge connecting promising startups with [...]
SEOUL, May 26 (Korea Bizwire) — The number of startups in South Korea dropped 3.4 percent in the first quarter of the year due largely to a one-off factor, government data showed Thursday. A total of 348,732 startup businesses were set up in the January-March period, compared with 360,846 a year earlier, according to the [...]
SEOUL, April 15 (Korea Bizwire) — In tandem with the government’s pursuit of carbon-neutral policies and the business community’s embracing of the environment, social and governance (ESG) management trend, investment is flooding into startups in the ESG sectors. Domestic startups attracted 11.7 trillion won (US$9.51 billion) in investment last year, more than tripling from a [...]
SEOUL, March 8 (Korea Bizwire) — An increasing number of self-employed people who lag behind in information capability compared to large businesses are adopting startup application services designed to help the operation of restaurants and stores. Dodo Cart, a restaurant inventory management app operated by local startup Spoqa, provides an analytical report on the details [...]
SEOUL, Feb. 15 (Korea Bizwire) — The number of unicorns in South Korea reached an all-time high in 2021 amid state support for promising startups, data showed Tuesday. Asia’s fourth-largest economy had 18 unicorns as of end-December last year, up from 13 a year earlier, according to the data from the Ministry of SMEs and [...]
SEOUL, Feb. 3 (Korea Bizwire) — SK Telecom Co. is stepping up efforts to support the growth of startups in the environment, social and governance (ESG) sector. South Korea’s largest wireless carrier announced that it extended support to a total of 14 startups last year through its ESG Korea 2021 program. The company provided a variety [...]
SEOUL, Jan. 25 (Korea Bizwire) — Almost half of South Korean startups have chosen North America as their first overseas market and more than half of these companies have set up headquarters overseas, a trade investment promotion agency said Monday. The Korea Trade-Investment Promotion Agency (KOTRA) conducted a survey of 198 startups with one or [...]
LAS VEGAS, Jan. 6 (Korea Bizwire) — While working as a lawyer at Kim & Chang, one of South Korea’s biggest law firms, Joung Ji-won needed a balanced, nutritious diet more than anything. “I didn’t even have time to sleep, not to mention exercising,” Joung said Thursday. “I needed a tailored service that brings me nutritional [...]
SEOUL, Nov. 29 (Korea Bizwire) — Large companies and venture capitalists are aggressively investing in and exploring initial-stage startups that have relatively high risk of failure, as part of efforts to acquire stakes in such startups through ‘seed investment’ before their market value is pushed up. Local venture capital firm TBT Partners has invested about [...]
SEOUL, Nov. 25 (Korea Bizwire) — The pandemic has expedited the process of digital transition, increased information and communications technology (ICT) investment and encouraged tech startups. The Ministry of SMEs and Startups reported a 26.1 percent increase in the number of tech startups between January and September of this year, adding a total of 34,240 [...]