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The Korea Herald

Startups & Investors

April 16, 2020
Extended social distancing offers opportunities for Korean alternatives to Zoom, Skype

At the beginning of the COVID-19 epidemic in Korea when people suddenly had to embrace remote working and social distancing, they turned to well-known tools provided by international tech companies, such as Google’s Hangouts and Microsoft’s Skype. The biggest beneficiary of the increased demand w...
April 03, 2020
Grocery platform Kurly sees surge in revenue, operating loss

Kurly, operator of grocery delivery platform Market Kurly, said Friday that its revenue soared but losses mounted last year. The South Korean startup best known for its dawn delivery logged 328.9 billion won ($267 million) in revenue in 2019, jumping 173 percent from the previous year. Its operati...
April 03, 2020
Hana Bank, Woowa Brothers to create rating model based on online food orders

Restaurants available on delivery app Baedal Minjok will have a broader access to loans from a commercial bank, if they show proof that they were winning more online food delivery orders. This will be part of commitments in a memorandum of understanding by Korea‘s mobile food delivery unicorn Wo...
April 02, 2020
Tmon pushes the envelope, plans IPO

South Korea’s Tmon announced on April 2 that it posted its first monthly operating profit in 10 years, and plans to get listed next year. The firm recorded 160 million won ($130,000) operating profit last month, becoming the first local e-commerce platform operator to be in the black. The impr...
April 02, 2020
SendBird acquires video conferencing platform Roundee.io

SendBird, a leading startup in chat and messaging application programming interface service for mobile and web applications, said April 1 it has acquired enterprise video conferencing platform Roundee.io. The San-Mateo-based company said it will use Roundee.io’s core technology and key engineerin...
March 30, 2020
Woowa Brothers to sue scammers posting fake food reviews

Woowa Brothers, operator of the country’s leading food delivery app Baedal Minjok, said on March 30 it will file police complaints against businesses that posted fake food reviews on its app, after being paid. According to the company, the firms received about 5,000 won ($4) to 10,000 won for po...
March 27, 2020
Non face-to-face food ordering services popular amid social distancing trend

Baemin Order, an ordering and payment service for restaurants, accumulated over 2 million orders in five months since its launch in November, its operator Baedal Minjok said Friday. Baemin Order, which can be accessed through the Baedal Minjok delivery app, is a service in which users can order a...
March 27, 2020
SendBird boosts in-app API with voice, video functions

SendBird , a leader in chat and messaging application programming interface service for mobile and web applications, announced March 26 that it had added real-time voice and video interaction capabilities to its in-app chat experience. The company said it hopes to improve the user experience for...
March 25, 2020
Hosts angry at Airbnb for COVID-19 policies

In January, Airbnb superhost Diana Jeong quit her job as she was expecting a baby this spring. What she did not expect was a pandemic that would upend her plan to become a full-time Airbnb host. The former college lecturer made that decision because she found great satisfaction in providing hospit...
March 24, 2020
SmartStudy revenue soars fueled by overseas performance

SmartStudy, best known for its super viral “Baby Shark” song, saw record revenue last year backed by overseas sales, the educational entertainment company said Tuesday. The company’s revenue soared by 164 percent to 105.5 billion won ($84.4 million) from a year ago, while operating profit jumpe...
March 20, 2020
Asian startups recognized for social impact at UN World Summit Awards

Dot Inc , a South Korean startup that develops digital devices for visually impaired people, won the UN World Summit Awards 2020, which took place in Vienna, Austria last week. The WSA award startups that enhance social value. This year, it selected nine final winners in eight categories from 40...
March 20, 2020
Hotel-booking app Yanolja logs 78.8% jump in 2019 revenue

Yanolja, South Korea’s leading hotel booking operator, saw a revenue growth of more than 70 percent for the fifth consecutive year, the company said on March 20. The company, one of Korea’s 11 unicorn startups valued at more than $1 billion, logged a revenue of $260 million, up 78.8 percent from...
March 05, 2020
‘Health functional foods’ see boom in wake of virus outbreak

For Hwangbo Kyung-sun, a 29-year-old office worker in Seoul, it has become a routine to take omega-3 supplements and krill oil pills along with bringing a face mask and hand sanitizer to protect herself against the fast-spreading COVID-19. “It is basically the most I can do to not get infected f...
February 28, 2020
LG, Woowa Brothers to collaborate on food robotics

Robots delivering food to doorsteps and serving tables at restaurants may not be that far in the future. LG Electronics and Woowa Brothers said Friday they will jointly develop food delivery-and-serving robots, combing LG’s artificial intelligence and automated indoor driving technologies with W...
February 27, 2020
Mobility startups immune to coronavirus outbreak

Personal mobility startups remain mostly unaffected by the ongoing coronavirus outbreak for the time being, according to industry sources. Electric scooter-sharing service Kickgoing operator Olulo, with more than 440,000 members, said Wednesday that its personal mobility business has not been gre...

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