[StartupRecipe] 3 Patterns Shaping Korean Open Innovation Today

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#Weekly Funding Overview

[July. 13 ~ July.17]

#FUNDING

Company	Inudustry	Amount	Round	Investors
Fraser Therapeutics	Bio	50 billion	Pre-IPO	JJDC, Woori Venture Partners, Company K Partners, Smilegate Investment, Premier Partners, K2 Investment, Playground Global, Shinhan Asset Mgmt
JLabs	Defense RF Modules	12 billion	Pre-IPO	E&F Private Equity, Kiwoom Capital
Newble AI	Medical AI	400 million	Seed	FuturePlay
AD Fisheries	Smart Shrimp Farming	-	Series A	Rasmal Ventures, KIBO, SK Securities, KR Ventures
Argos Identity	AI Identity Verification	4.6 billion	Pre-Series A	Stonebridge Ventures, BonAngels, Asia2G Capital, Kim Gisa Lab
Bunker Kids	AI Character Platform	2 billion		Crit Ventures
Novatech	Robot Orchestration	7 billion	Series A	Hyundai Motor Group ZER01NE, Hyundai Motor Securities, Quantum Ventures Korea
Samil Chemical	Advanced Polymers	4 billion	Pre-Series A	SBI Investment, Timefolio Capital, KDB
Sweet Balance	Salad Specialist	2 billion	Series A	NH Bank
Articron	AI Semiconductor IP	-	Grant	Scale-up TIPS
Algorix	AI Data Infra	-	Pre-Seed	Kakao Ventures
Connectionary	AI Decision Infra	-	Pre-Seed	Bluepoint Partners
Holiday Robotics	Humanoid Robot	155 billion	Series A	Stonebridge, Atinum, InterVest, Spring Camp, IMM, KB, BonAngels, Premier, Ulmus, SJ, Dasung, Atinum Investment, Goodwater Capital
FLEXELL SPACE	Space Solar Cells	25 billion	Series A	Mirae Asset, IBK, NH, IBK Investment, Korea Investment, KIBO, InterVest, L&S, Quad Ventures
ARKgen BioScions	Immunotherapy	10 billion	Series A	Mirae Science Tech Holdings, IBK, IBK Venture, IMM, Woori, KHIDI-Yuanta, Huons
Fraun	K-Beauty	-	Pre-Series A	Mark & Company, Solid One Partners
WeAid	Insurance Tech	-	Pre-Series A	New Paradigm Investment
SEIIM	Industrial Safety AI SaaS	-	Seed	CNT Tech
Sky Intelligence	Industrial Synthetic Data	-		Oracle-Vector Regional Innovation Fund
Modakbul Energy	Heat Pump Subscription	-	Grant	TIPS
Fulcrum Technologies	E-commerce Content AI Agent	-	Seed	Smilegate Investment
Pinology	AI Investment Agent	-	Grant	TIPS
Creator Venture Studio	Creator Business Building	-	Grant	TIPS
Homefit	Health Management	-	Grant	TIPS
Manhwa Noodle Factory	Creator IP Incubator	-		Primer

#TREND ANALYSIS

3 Patterns Shaping Korean Open Innovation Today

Open innovation programs between South Korea’s large corporations and startups are moving beyond simple investment and support, increasingly centering on identifying AI transformation (AX) partners and adopting venture client models, as companies seek to rapidly absorb outside technology to solve problems they cannot address internally.

According to a survey by the Ministry of SMEs and Startups, applications from companies seeking open innovation partnerships with startups rose more than 30% year-over-year, reflecting the trend.

The shift is being reinforced by government policy. The ministry said it will use its 2026 supplementary budget to expand public-private open innovation support programs, providing up to 140 million won in collaboration funding to 120 startups. The program operates on two tracks: one in which large and mid-sized companies directly submit challenges for startups to solve, and another that connects startups selected through corporate programs with government support. Eligibility for the program has recently been expanded to include mid-sized companies. Separately, the government is pursuing a roughly 250 billion won open innovation fund targeting strategic industries including biotechnology, defense, and beauty.

With policy and capital support now in place, several trends have emerged in how large corporations structure their open innovation efforts.

From investment to commercialization

Open innovation programs that once ended with a single investment or a short-lived proof of concept are increasingly extending into full service launches, with business unit staff at affiliate companies taking direct roles after the PoC stage. Top-down collaboration models, in which companies define a specific problem and solicit solutions from startups, have also become more common.

AI-focused startups dominate selection

Startups specializing in AI and AI transformation account for a disproportionate share of selected partners, according to program materials reviewed. Companies with “AI” in their names, as well as sector leaders working in AI-driven fields more broadly, are being prioritized, including startups applying AI to social impact, food, and other traditional industries.

Group-wide mobilization

Entire corporate groups, rather than individual affiliates, are increasingly coordinating startup collaboration efforts. At Samsung, financial affiliates including Samsung Life, Samsung Fire & Marine Insurance, Samsung Card, and Samsung Securities are participating alongside a separate program run by Samsung C&T, forming a multi-layered structure across the group. Multiple open innovation program materials describe strategies spanning discovery, proof of concept, investment, and commercialization.

Hackathons gain traction

Corporations are also expanding internal and external hackathons focused on fields such as physical AI, alongside dedicated startup cultivation programs, as competition intensifies to secure AI talent and ideas early. Global AI firms that have recently entered the Korean market, including OpenAI and Anthropic, have partnered with domestic companies to host hackathons, while startups are using recruitment-linked hackathon formats to pursue hiring and technology validation simultaneously.

Events bringing multiple corporations together to promote their open innovation programs and recruit startups have also increased in frequency. Industry observers say open innovation has evolved from a one-off event into a business model aimed at securing growth engines and channels for talent and ideas — with success increasingly measured not by the number of programs launched, but by how many collaborations translate into actual revenue and services.

#MORE NEWS

• Holiday Robotics raises KRW 155 billion in record Series A funding
• Google for Startups Accelerator Korea showcases 14 AI startups at demo day