venture Archives | Be Korea-savvy
Venture Firms Welcome Gov’t Plans to Launch New SME Ministry

Venture Firms Welcome Gov’t Plans to Launch New SME Ministry

SEOUL, June 9 (Korea Bizwire) – South Korean venture firms on Friday welcomed the government’s plans to establish a new ministry supporting small and medium-size startups, expressing hope that the new entity will concentrate on technology and growth potential rather than sales and financial stability in rendering assistance.  During the election campaign, President Moon Jae-in [...]

S. Korea Aims to Nurture 100 ‘Star’ Venture Companies by 2020

S. Korea Aims to Nurture 100 ‘Star’ Venture Companies by 2020

SEOUL, Feb. 17 (Korea Bizwire) – South Korea on Friday announced a plan to nurture 100 ‘star’ venture firms in the science and technology sectors by 2020 to secure new economic growth engines.  The Ministry of Science, ICT and Future Planning reported a set of measures to Acting President and Prime Minister Hwang Kyo-ahn to [...]

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

SEOUL, Jan. 18 (Korea Bizwire) – South Korea will establish a 3.5 trillion won (US$2.9 billion) fund to nurture startups and venture firms in the science and technology sectors to secure new growth engines, the science ministry said Wednesday. Under the comprehensive plan announced by the Ministry of Science, ICT and Future Planning, the fund [...]

Samsung NEXT (Formerly Samsung Global Innovation Center) Announces $150M Fund to Expand Global Support of Early Stage Startups in Emerging Tech

Samsung NEXT (Formerly Samsung Global Innovation Center) Announces $150M Fund to Expand Global Support of Early Stage Startups in Emerging Tech

LAS VEGAS, Jan. 6 (Korea Bizwire) – Samsung NEXT (formerly Samsung Global Innovation Center) today announced at CES the creation of the Samsung NEXT Fund, a $150 million venture capital investment fund, to increase Samsung’s global support of early stage startups pursuing advanced software and services innovation. The Fund enables Samsung NEXT to build upon [...]

Outbound Shipments of S. Korean Venture Firms Jump 21 Pct in Nov.

Outbound Shipments of S. Korean Venture Firms Jump 21 Pct in Nov.

SEOUL, Dec. 22 (Korea Bizwire) – Exports by South Korea’s venture firms jumped over 21 percent from a year earlier last month, a local trade organization said Thursday, marking the first double-digit growth in over a year and possibly heralding an imminent improvement in the country’s overall exports.  According to the Korea International Trade Association [...]

Naver, Line to Invest 100 Mln Euros into French Venture Fund

Naver, Line to Invest 100 Mln Euros into French Venture Fund

SEOUL, Sept. 29 (Korea Bizwire) – Naver Corp., South Korea’s largest Internet portal, and its mobile messaging affiliate Line Corp. said Thursday they will invest 100 million euros (US$112.2 million) into a French venture fund set up by France’s first South Korean-born minister, Fleur Pellerin.  Naver and Line will invest 50 million euros each into [...]

2016 K-Startup Grand Challenge Summons Talent from Overseas

2016 K-Startup Grand Challenge Summons Talent from Overseas

SEOUL, Aug. 17 (Korea Bizwire) – The final stages of the 2016 K-Startup Grand Challenge took place Wednesday at the Pangyo Startup Campus in Seongnam, with international experts and businessmen and women from various fields ranging from artificial intelligence and virtual reality technology to UAVs and videogames in attendance.  A total of 2,439 teams from [...]

Seoul Set to Develop More Global High-tech ‘Unicorns’

Seoul Set to Develop More Global High-tech ‘Unicorns’

SEOUL, April 19 (Korea Bizwire) – In a dramatic turn, the South Korean government has decided to offer assistance to more promising and competitive startups as part of its venture support programs. Previously, the government focused on expanding the pool of startup companies, putting more energy into fostering entrepreneurship and venture startups, and choosing a [...]

S. Korean Star Agency to Launch Joint Firm with Chinese Billionaire’s Son

S. Korean Star Agency to Launch Joint Firm with Chinese Billionaire’s Son

SEOUL, March 2 (Korea Bizwire) – South Korean star agency Yedang Entertainment on Wednesday said it will launch a joint venture company with the son of a Chinese properties magnate. Yedang Entertainment, a small label that signed K-pop girl group EXID, has recently changed its corporate name to “Banana Culture,” calling the move a first [...]