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SmartStudy, the creator behind the hugely popular “Baby Shark” song, and its venture capital arm on June 10 said it had decided to invest in animation production specialist Red Dog Culture House. SmartStudy said the latest investment, worth 10 billion won ($8.3 million), was part of the company’...
Viva Republica, which runs money transfer platform Toss, said on Monday it has found unauthorized payments made on its system, and is working to find the exact causes of the incident. According to the fintech firm, a total of eight unauthorized purchases, worth 9.4 million won ($7,853) were made ...
Southeast Asia’s leading ride-sharing platform Grab on Monday announced a Small Business Booster Program in an effort to help small businesses in the region adapt to the COVID-19 new normal. The program includes tools and initiatives to make it easier for offline businesses to make the shift onli...
The rapid growth of e-commerce giant Coupang has been clipped recently upon the recent outbreak of COVID-19 infections at its logistics centers in addition to sudden deaths of its workers in the past months. On June 3, a civic group filed a complaint against Coupang’s founder and CEO Kim Bom-suk...
South Korea’s same-day laundry service startup Laundrygo said on June 2 it had raised a 17 billion won ($13.9 million) series B round funding from multiple venture capital houses, amid growing demand for daily life services offered without physical contact in the pandemic era. New investors in t...
South Korea’s antitrust watchdog has fined local delivery platform Yogiyo 468 million won (about $380,000) for abusing its superior position at the expense of small restaurants, officials said on June 2. Yogiyo set up by German-based Delivery Hero in 2011 is a mobile and online food delivery pla...
The Korea International Trade Association said Monday it is joining hands with US-based Startup Junkie to back Korean startups to test their technologies and products overseas. The partnership deal was signed by chief of KITA’s innovation growth division Dong-ki and Louis Diesel, director and hea...
South Korean bicycles maker Samchuly Bicycle said on June 1 its sales of electric bicycles have surged as people are looking for new ways to travel amid the coronavirus outbreak. According to the company, its sales of electric bicycles have surged 34 percent on-year in the first quarter as they c...
Toss Lab, the maker of innovative collaboration tool JANDI, has established itself at the top of South Korea’s growing work communication platform market. The fledgling company, in just six years, has managed to go head-on with not only domestic competitors such as Flow and Collabee but also glob...
They may look like Bluetooth neckband headsets, but Linkflow’s FITT360 and NEXX360 are cameras that allow users to capture 360-degree shots of their surroundings. FITT360 and NEXX360 each have four cameras which constantly take photos and instantaneously process them into 360-degree videos. This...
Tmon, an e-commerce platform in South Korea, promised on May 22 to turn profit this year as it marks its 10th anniversary. With the goal of going public, the firm’s Chief Executive Officer Lee Jin-won revealed his ambition to lead the e-commerce market. "Tmon is a company that has been labeled t...
KT CEO Koo Hyun-mo on on May 20 met with representatives of venture capital firms, urging them to look into new opportunities to prepare for the post-coronavirus era, the firm said Thursday. Speaking during a seminar hosted by the telecommunications firm, Koo discussed some new business areas -- o...
Sixteen fintech firms and startups have attracted a combined 136.4 billion won (US$111 million) in investment over the past year as the country is pushing to promote the fintech industry, South Korea‘s financial regulator said on May 14. The investments came a year after South Korea introduced a...
Korean startups find the COVID-19 pandemic positive for the country’s startup ecosystem in the future, a survey by the Ministry of SMEs and Startups showed on May 12. Out of 492 respondents, 42.5 percent said the COVID-19 pandemic will bring about either a very positive or positive impact on the ...
SK Holdings said Monday it is the lead investor in Singapore-based Hummingbird Bioscience’s $6.5 million Series B extension funding round. Hummingbird Bioscience, founded in 2015 in Singapore by former members of global pharma giant Sanofi, researches for novel antibody drugs. Antibody drugs are ...
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