Korea to build Dual-Location Startup Hub: Hongdae and Busan
Korea Station F, set to function as a global startup hub, will be established in two locations: Seoul’s Hongdae district and Busan’s North Port area. Modeled after France’s Station F(the world’s largest startup incubator), this initiative is part of the...
Brite Energy Partners Secures $78M from BlackRock
Brite Energy Partners (BEP) has secured a $78 million investment from funds managed by BlackRock’s Climate Infrastructure division. This marks BlackRock’s fourth investment in BEP, with the initial investment made in August 2021. BEP is an independent power producer (IPP)...
StartupRecipe partners with Ewha Univ to create startup content
Startup Recipe has announced a collaboration with the 9th Startup Reporter Team from Ewha Womans University to produce startup-focused content. On July 16, as part of an initiative to enhance the team’s skills, Startup Recipe held a launch ceremony that...
Beeble AI raises $4.75M to Democratize Filmmaking with AI
Beeble AI, a virtual lighting solutions startup founded by former Krafton AI researchers, has secured $4.75 million in seed funding led by Basis Set Ventures with participation from Fika Ventures to make Hollywood-level visual effects accessible to independent filmmakers.Beeble AI’s...
BGZT Secures 40 Billion Won in Series E Funding, Valued at 500 Billion Won
Fashion resale platform BGZT has secured 40 billion won in Series E funding. The investment round was led by Hana Alternative Investment Asset Management, valuing the company at 500 billion won. Launched in 2011, BGZT is a second-hand marketplace app...
Poen Closes KRW 39 billion Series B Round, Boosting Its EV Battery Recycling Technology
Poen, a remanufacturer of electric vehicle battery packs, has raised KRW 39 billion in Series B funding. Since its founding in 2019, the company has raised a total of KRW 46.7 billion . The investment round was led by DSC...
15 Global Funds Selected to Invest in K-Startups
The Korean government(The Ministry of SMEs and Startups) has announced the selection of fund management companies to manage the Global Fund in 2024. This year’s investment project is unprecedented, with a scale of KRW 150 billion. The project attracted applications...
Google Play Hosts 2024 Changgoo Alumni Day
Google Play is hosting the 2024 Changgoo Alumni Day to showcase Korean-backed startups. Launched in 2019, Changgoo is a startup support program run by Google Korea in partnership with the South Korean government. The initiative aims to provide small and...
Three Key Themes at NextRise 2024
NextRise 2024, Asia’s largest startup exhibition, commenced on June 13-14 at COEX in Gangnam-gu, Seoul. In its sixth year, the event reached unprecedented scale, featuring 1,500 startups, 250 global large and mid-sized companies, venture capitalists, and startup support organizations. This...
AI Chip makers Rebellions and Sapeon Korea Merge
Rebellions, an AI chip startup, is set to merge with Sapeon Korea, a subsidiary of SK Telecom. The two entities plan to establish an integrated corporation by the end of this year, with Rebellions absorbing Sapeon Korea through an acquisition....
Seoul AI Hub Anchor Facility Opens to boost AI Ecosystem
The Seoul AI Hub anchor facility has officially opened, aiming to foster a robust AI ecosystem in the city. Serving as a central hub for AI industry support, this state-of-the-art facility strategically integrates resources from various AI support centers in...
IBK hosts Changgong demoday 2024
Industrial Bank of Korea(IBK) held its ‘IBK Changgong 2024 First Half Demo Day’ event from May 29-30 at the IBK Finance Tower on Eulji-ro in Seoul. The event provided an opportunity for 24 startups that completed the IBK Changgong Acceleration...
South Korea's startup funding Market Bounces Back in Q1 2024: 3 key Points
The Ministry of SMEs and Startups (MSS) released a report detailing the latest trends in domestic venture investment and fund formation for the first quarter (Q1) of 2024. <Key Findings> Continued Growth: The positive trend observed in venture investment throughout...
Korea-Japan Establish $100 Million Joint Fund to Boost Startup Investment
The government is hosting the Korea-Japan Venture Startup Investment Summit 2024 in Japan to strengthen cooperation between the two nations. They’ve agreed to establish a joint fund of USD 100 million (approximately KRW 138 billion). The Korea-Japan Joint Fund comprises...
12 Korean Startups Shine at Dubai FinTech Summit
12 Korean startups showcased their innovative solutions at the Dubai FinTech Summit held at Jumeirah Resort. With their sights set on attracting venture capital funding and forging partnerships with global players, these startups leveraged the Seoul Pavilion, a collaborative effort...
Former Kakao CEO's AI Content Startup Raises KRW 16 billion
Aiz Entertainment, AI-based entertainment content, has closed a KRW 16 billion seed investment round. The funding comes from investors including Bon Angels Venture Partners, LB Investment, and Stonebridge Ventures. Founded in November 2023 by a former CEO of Kakao, Aiz...