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The Korea Herald

Startups & Investors

September 23, 2020
Coupang delves into computer parts biz, outcompeting go-betweens

Coupang is inching its way into the computer parts industry by offering lower prices and replacing distributors and retailers. Most recently, on Sept. 17, Nvidia’s GeForce RTX 3080 graphics cards were released in South Korea via Coupang. Intech & Company had imported the graphics cards through v...
September 22, 2020
How once rising sports platform TLX Pass fell

In its heyday, South Korea’s top actor Hyun Bin was the face of TLX Pass, a revolutionary fitness platform that made waves throughout the industry. TLX offered passes that could be used at multiple sports centers, bypassing the need to sign up for lengthy memberships. The idea was to free users f...
September 17, 2020
Kakao launches corporate messenger Kakao Work

Kakao, operator of South Korea’s top mobile messaging platform, announced on Sept. 17 that the company has launched a new enterprise messenger. The new corporate messenger developed by Kakao’s artificial intelligence unit Kakao Enterprise has combined existing user interface of popular messenge...
September 15, 2020
Seoul’s ambitious startup festival Try Everything 2020 to kick off

Startup festival “Try Everything 2020” kicks off online Sept. 16, the Seoul Metropolitan Government said on Sept. 15. The three-day event will be held in partnership with the 2020 World Knowledge Forum, an annual business convention hosted by Maekyung Media Group. Due to the recent spike in COV...
September 08, 2020
Kakao’s Yanadoo secures W30b won investment

Education technology firm Yanadoo announced on Sept. 8 that the company has recently secured investments worth 30 billion won ($25.2 million). Yanadoo, which merged with Kakao Kids to become a comprehensive education platform, is currently evaluated at 300 billion won, according to the company. ...
September 08, 2020
Orders on food delivery apps break records amid pandemic

The total value of orders placed on food delivery apps in South Korea reached 1.2 trillion won (US$1.01 billion) in August, up 28 percent from July and setting a new monthly record, as the government introduced stricter social distancing regulations after COVID-19 cases rose again, according to dat...
September 04, 2020
Coupang to set up large-scale logistics base in Gwangju

Coupang began procedures for the construction of a large-scale high-tech logistics base in Gwangju in partnership with the regional government, the firm said on Sept. 4. Gwangju Mayor Lee Yong-seop and Coupang’s new business division head Park Dae-joon met on Sept. 4 and signed a business agreem...
September 02, 2020
Toss Lab’s collaboration tool raises new investment for global expansion

Toss Lab, an operator of Slack-like team collaboration platform JANDI, said on Sept. 2 that it has newly raised 14 billion won ($11.8 million) from a group of investors. The investors include Softbank Ventures, SV Investment, Atinum Investment, Must Investment and Spark Labs. Related: [Herald I...
August 28, 2020
Toss raises US$173m to spur drive to become super financial app

Viva Republica, Korea’s leading fintech startup and operator of mobile financial service Toss, on Aug. 28 announced that it has raised $173 million in the latest funding round. The latest fundraising, which puts the company’s valuation at $2.6 billion, came as the company pushes to expand to all...
August 28, 2020
Coupang trials buy-now, pay-later service

E-commerce giant Coupang is trialing a buy-now, pay-later service. The new service is applied to products directly bought from and sold by Coupang, which are available for its next-day delivery service, Rocket Delivery, according to one official at the company, allowing users to purchase items on...
August 19, 2020
Startups seek probe on in-app purchase system of Apple, Google

South Korean startups submitted an application on August 19 to authorities seeking an investigation on violations by Apple and Google customers regarding in-app purchases. According to an alliance of local application developers and startup firms, Apple has been forcing developers to use their sp...
August 18, 2020
Baemin introduces first outdoor delivery robot in apartment complex

Baemin, or Baedal Minjok, the country’s No. 1 delivery app by market share, said Tuesday that it has started operating the country’s first outdoor delivery robot, which delivers food from a restaurant to an apartment building. According to Woowa Brothers, the delivery app operator, it is now us...
August 11, 2020
Notion unveils Korean version to tap into 2nd-largest market

Notion, a US-based all-in-one productivity tool, on Aug. 11 unveiled its first foreign-language version in Korean. At the launching event held online, the company said it chose South Korea as the first overseas market to make a foray with a local language edition because it has the largest user ba...
August 10, 2020
Gooroome lands W2b in pre-A round funding

Gooroome, a local videoconferencing solution startup, has secured 2 billion won ($1.68 million) in pre-A funding round led by Innopolis Partners. “Gooroomee owns the country’s top two-way interaction videoconferencing technology. As the ‘untact’ lifestyle expands amid Covid-19, we expect Gooro...
August 07, 2020
STIC Investments, Amorepacific and more - this week’s startup and investment update

STIC grabs Juvis STIC Investments is set to acquire Juvis Diet, a Korean weight-loss consulting chain, industry sources said on August 7. The Seoul-based private equity firm, which was selected as the preferred bidder for the deal, has reportedly offered 250 billion won ($211 million) for 100 per...

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EDITOR'S PICKS

Herald Corporation |
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