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Venture Capitalists Flock to Early-stage Startups Despite Higher Risk Burden

Venture Capitalists Flock to Early-stage Startups Despite Higher Risk Burden

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 [...]

Expansion of Metaverse Industry and YouTube Encourages Tech Startups

Expansion of Metaverse Industry and YouTube Encourages Tech Startups

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 [...]

Startups Use Technology to Promote Waste Resource Collection

Startups Use Technology to Promote Waste Resource Collection

SEOUL, Nov. 16 (Korea Bizwire) — Armed with a variety of technologies, an increasing number of startups are making forays into the waste resource collection business. As environmental, social and governance (ESG) management is emerging as a major trend, the value of waste resource recycling is on the rise. Tech startup Superbin’s vending machine Nephron [...]

Online Real Estate Brokerage Market Expands at a Healthy Pace

Online Real Estate Brokerage Market Expands at a Healthy Pace

SEOUL, Nov. 3 (Korea Bizwire) – Online-based real estate startups are bulking up rapidly, bringing about a new trend in the South Korean real estate market. Dawin Property, a real estate brokerage firm, recently attracted an investment of 3 billion won (US$2.54 million) from SoftBank Ventures Asia Corp. and Fast Ventures, according to industry sources. [...]

S. Korea to Increase Support of Startups’ Overseas Expansion

S. Korea to Increase Support of Startups’ Overseas Expansion

SEOUL, Sept. 27 (Korea Bizwire) — South Korea said Monday it plans to increase support for overseas expansion by startups and smaller firms as part of efforts to strengthen its ties with Southeastern Asian countries and nations in Eurasia. The government plans to further promote economic cooperation with the 10-member states of the Association of [...]

Unusual Businesses Emerge amid Pandemic

Unusual Businesses Emerge amid Pandemic

SEOUL, Aug. 30 (Korea Bizwire) — New services are taking care of ‘cumbersome tasks’ on behalf of those who want to stay indoors following the coronavirus outbreak. Fitco introduced a service in November that comes up with various recommendations on fashion, picked by professional stylists based on the ‘Style Quiz’ questionnaire that asks customers some [...]

Naver Makes String of Investments in Startups to Strengthen Online Shopping Business

Naver Makes String of Investments in Startups to Strengthen Online Shopping Business

SEOUL, Aug. 10 (Korea Bizwire) — South Korean technology giant Naver Corp. made a series of investments in four local startups this month as part of efforts to strengthen its online shopping business. Early this month, Naver invested 10 billion won (US$8.71 million) in online meat distribution startup Jeongyookgak. This investment cleared the way for [...]

LNG-powered Ship Helps Foster Startups

LNG-powered Ship Helps Foster Startups

INCHEON, May 12 (Korea Bizwire) — Eco Nuri, the first liquefied natural gas (LNG)-powered ship in Asia which has been operated by the Incheon Port Authority since 2013, is supporting the cultivation of domestic startups. The LNG-powered ship that was introduced in July 2013 as a guide ship for the port of Incheon has accommodated [...]