SEOUL, Feb. 19 (Korea Bizwire) — About half of the employees hired by South Korean social ventures are under 30 years of age. According to a report from the Ministry of SMEs and Startups, the number of social ventures in South Korea totaled 1,509 as of August 2020, up 511 from a year prior. Among [...]
SEOUL, Feb. 2 (Korea Bizwire) — The state-run Korea Development Bank and the Hyundai Motor Group jointly announced on Monday that they will cooperate to create a fund that will explore and invest in promising startups in the mobility area. The two parties reached an agreement on the creation of the 74.5 billion won (US$66.6 [...]
SEOUL, Jan. 6 (Korea Bizwire) — Samsung Electronics Co., South Korea’s leading tech firm, said Wednesday that it will support 21 homegrown startups’ participation in the world’s largest tech expo next week as the company vows to bolster its startup incubator programs. Samsung said four projects from its in-house idea incubation program C-Lab Inside and [...]
SEOUL, Dec. 2 (Korea Bizwire) — An accelerator for tech startups operated by Naver Inc., South Korea’s largest internet portal operator, said Wednesday it has made new investments in two promising tech startups. Naver’s D2 Startup Factory, also known as D2SF, said it has selected the two startups — Techtaka Co. and Medibloc Co. — [...]
SEOUL, Nov. 5 (Korea Bizwire) — Samsung Electronics Co. announced that it will support three startups created by Samsung employees as part of the company’s in-house venture incubation program, C-Lab Inside. C-Lab Inside was introduced in 2012 to promote a creative corporate culture as well as to explore employees’ innovative ideas. The three startups that [...]
SEJONG, Oct. 16 (Korea Bizwire) — South Korea’s finance minister said Friday that the government plans to introduce multiple voting rights for non-listed venture startups to help shareholders strengthen their control over companies. Finance Minister Hong Nam-ki said the scheme is aimed at encouraging venture startups to get major investment deals, while defending companies against [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s public institutions have been mandated to buy 8 percent of their annual procurements from startups. The Ministry of SMEs and Startups announced that the revised enforcement ordinance of the SME Establishment Support Act was resolved at a cabinet meeting and would take effect from Thursday. Under the [...]
SEOUL, Sept. 18 (Korea Bizwire) — Almost half of the South Korean startups that ending up going global actually have origins in overseas countries, under the goal of targeting the global market, a state-run trade promotion agency said Thursday. As a result of a survey of the nation’s 135 startups that have been active in [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea’s investment in startups sank more than 17 percent in the first half of the year due to the coronavirus outbreak, government data showed Tuesday. A total of 1.65 trillion won (US$1.38 billion) was invested in promising venture firms and startups in the January-June period, down 17.3 percent [...]
SEOUL, July 21 (Korea Bizwire) — An accelerator for tech startups operated by Naver Inc., South Korea’s largest internet portal operator, said Tuesday it has made new investments in two promising tech startups. Naver’s D2 Startup Factory, also known as D2SF, said it has selected the two startups that have expertise in developing solutions that [...]