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The Korea Herald

Startups & Investors

August 06, 2020
Beauty app Zamface attracts W5.5b in series A funding

South Korean beauty video app Zamface said on August 6 that it has raised 5.5 billion won ($4.64 million) in series A funding from multiple investors to make inroads into the Southeast Asian market. STIC Ventures and Timewise investment as well as existing investors Korea Investment Partners join...
August 05, 2020
SkyLabs taps remote healthcare market with ring-type heart monitor

SkyLabs, a South Korean medical device startup, unveiled its first wearable device on August 5 to tap into a growing remote healthcare market. SkyLabs’ CART-I is a ring-type cardio detector that monitors irregular pulses of atrial fibrillation patients. The company’s device will compete with ot...
August 05, 2020
Grab expands financial products portfolio

Grab Financial Group, the financial technology arm of Southeast Asia-based ride-hailing app Grab, on Tuesday rolled out a series of consumer financial services, including microinvestment and microloan schemes. The company’s new strategy, “Thrive With Grab,” includes microinvestments, third-part...
August 04, 2020
TechStars Korea Accelerator to kick-off first program in August

Colorado-based global startup accelerator Techstars is launching the first accelerator program in South Korea with 10 selected startups, the company said on August 4. Techstars Korea Accelerator is scheduled to kick off a 13-week program on August 31 with 10 domestic and overseas early-stage start...
August 03, 2020
Viva Republica launches credit card processing subsidiary

Viva Republica, operator of mobile fintech platform Toss, said on August 3 that it has launched a payment gateway subsidiary called Toss Payments. The establishment of the new subsidiary comes after the fintech company reached an agreement with mobile network giant LG Uplus in December, taking ov...
July 31, 2020
Line Man receives US$110M Investment, merges with Thai food app

Line Man, a delivery app operated by Line in Thailand, announced July 30 that it has landed an investment of $110 million from venture capital firm BRV Capital Management, marking the first time that any entity in the Line Group has secured a financial investment of this size for one of its overse...
July 30, 2020
S. Korea to inject W40tr into ‘innovative’ champion firms

South Korea on July 31 unveiled a financial package to inject some 40 trillion won ($33.48 billion) into 1,000 selected innovative businesses over the next three years. The plan seeks to promote synergies between the financial sector and actual industries, and to ultimately shore up the so-called...
July 30, 2020
VCs mull exit plans as market recovers from pandemic impact

South Korea’s venture capital houses are actively seeking exit plans from their startup investments as promising firms are gearing up for initial public offerings following the stock market recovery, according to market watchers on July 30. One of the VCs that already did so was Company K Partne...
July 29, 2020
Contactless recruitment services shine at Lotte’s demo day

Lotte Accelerator, Lotte Group’s corporate venture capital and startup incubator, held its sixth demo day online as the COVID-19 pandemic continued to inhibit mass gatherings. The infectious disease, however, could not deter startups from their efforts to turn a misfortune into a blessing, with se...
July 21, 2020
Kurly founder named among world’s top female fundraisers

Founder of Seoul-based same-day deliery startup Kurly, Sophie Kim, was listed among the top 10 female founders in the world by fundraising, data showed on July 21. The founder of Market Kurly had raised the eighth-most money on the list as of June, raking in a combined $282 million since Kurly’s...
July 20, 2020
[Interview] Former WeWork Korea general manager dives into proptech scene with platform Dongnae

Looking for a home, whether to rent or own, is an extremely time-consuming and painstaking job in South Korea. House hunters have to jump from one real estate agency to another to find the right one to fit their budget. Many factors contribute to this decision, including proximity to educational...
July 20, 2020
Korea’s homegrown AI medical solution enters Saudi market

The South Korean government Sunday expressed hopes of safely bringing its new artificial intelligence medical software “Dr. Answer” to local and overseas markets, after it agreed to export the solution to hospitals in Saudi Arabia earlier in the week. Dr. Answer is an AI-enabled software design...
July 20, 2020
Silicon Valley engineer joins Coupang as new vice president to oversee Rocket Delivery

E-commerce giant Coupang has appointed software engineering expert Jeon Joon-hee as the new vice president of engineering for its express delivery service, the company said on on July 20. Jeon, who has previously worked at global companies like Google and Uber, will focus on advancing Coupang’s ...
July 10, 2020
Where are business opportunities in post-COVID-19 era?

It goes without saying that the COVID-19 pandemic has brought fundamental changes to society, ranging from wearing masks becoming common etiquette to remote work and online classes being the new normal. Business gurus like to say that every crisis comes with opportunity. The question is where the b...
July 09, 2020
K-Startup Center expands despite Covid-19

K-Startup Center, a government backed platform that supports Korean startups’ overseas growth, expanded its network on July 8. The center, backed by the Ministry of SMEs and Startups, launched the KSC last year with three overseas centers in India, US and Israel. This week, it added Sweden, Finla...

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