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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...
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...
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...
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...
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...
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 ...
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...
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...
Logistics service provider Mesh Korea said June 30 it is partnering with Beam Mobility, a Singapore-based micro-mobility company, for battery charging services. Drivers’ of Vroong, Mesh Korea’s last-mile delivery service, will provide charging services for Beam’s e-scooters during their idle ti...
South Korea’s financial authorities have tentatively concluded that unauthorized payments made on fintech platform Toss were not caused by any security breach, according to sources on June 30. The Financial Supervisory Services found no proof on alleged hacking attempts, they were quoted by Yonh...
Seoul, the capital of South Korea, has emerged as top 20 in Global Startup Ecosystem Report 2020 for the first time since the report by Startup Genome was published in 2012. In its recent report tracking the growth of startup ecosystems around the world, Startup Genome gauges a number of metrics s...
Coupang, an e-commerce giant, said on June 23 it will reinforce hygiene measures to cleanse and sterilize millions of products ordered through its Rocket Delivery. Before the products are delivered to customers, the delivery worker will use a portable disinfectant to sterilize the product. The di...
South Korea is reportedly working on relaxing financial regulations to allow conglomerates to own venture capital firms for boosting the startup ecosystem, according to news reports on June 22. The government is also preparing measures to prevent side effects that could stem from deep-pocketed bu...
Korean e-commerce giant Coupang said on June 17 it ranked second on the CNBC Disruptor 50, a list of 50 private companies with the potential of becoming the “next generation of billion-dollar businesses,” as designated by the US broadcaster. Coupang said it was included in the list in a first f...
A group of lawmakers, professors and industry officials on June 11 urged the government to relax regulations that have prevented the marriage between industrial and financial capital, stressing that it hinders growth of corporate venture capital. The South Korean government has long prevented non...
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