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Aroundus launches job-searching service for freelancers, students
Korean startup Aroundus has rolled out an eponymous website for the talented, but often underrepresented in the job market, namely students and freelancers.The job-searching service is roughly tailored after existing platforms such as LinkedIn, but the similarities stop at the surface, according to founder and CEO Dan...
KDB forms co-investing roundtable with 6 local VCs
State-run Korea Development Bank announced on April 18 that it has formed a co-investing roundtable with six local venture capital firms to help Korean startups reach a unicorn status. KDB said it is teaming up with VCs dedicated to startup investments -- Korea Investment Partners, Smilegate Investment, Intervest, KTB Network, IMM Investment and LB Investment. KDB Vice Chairman Sung Joo-yung (fourth from left) and representatives of Korean VCs pose for a photo at a ceremony celebrating the launc
Abyo Korea hopes to redesign delivery industry
About a year ago, Dasan New Town, a gigantic new apartment complex in Gyeonggi Province, found itself at the center of a nationwide controversy. A car-free community, it faced a dispute with delivery companies because it was impossible for trucks to get past the entrance. Delivery people were expected to complete their routes on foot. Refusing to comply, the couriers left the packages at the complex entrance. The impasse was eventually resolved, but it highlighted the difficulties that the deliv
SoCar acquires position tracking startup Polariant
South Korea’s leading mobility platform operator SoCar has acquired Polariant, a startup that develops positional tracking technology using polarized light detection, the company said April 17. Polariant is the second startup SoCar has bought, after VCNC, which currently provides ride-sharing service Tada. Founded in 2015 by three co-founders, Polariant develops polarized light sensing solutions that allow accurate location detection where there is no GPS service, such as underground parking lot
Korean student-led startup Class101 fetches W12b round investment
Class101, South Korea’s hobby-based social networking platform operator startup, announced on April 11 that it has received a 12 billion won ($10.53 million) series A round investment.The investors are led by Seoul-based early-stage venture capital firm SoftBank Ventures Asia. Mirae Asset Venture Investment, KT Investment, Naver affiliate Spring Camp and California-based Strong Ventures also joined the round. Class101 was founded in 2015 by Ko Ji-yeon, an undergraduate student at Ulsan National
Shinhan’s fintech innovation hub to ramp up startup support with FOF firm
Shinhan Futures Lab, a South Korean innovation hub owned by Shinhan Financial Group, said on April 11 it is poised to ramp up support for startups by teaming up with Korean fund of funds management firm Korea Growth Investment Corp. Shinhan Financial has signed a memorandum of understanding with the state-led FOF manager, also known as K-Growth, to foster investments in startups dedicated to fintech, according to the banking group.Under the agreement, the two will share information about fintech
Troubled media startup sellev. gears up for fresh start with new CEO
South Korea’s online media production startup sellev. is poised for a fresh start by naming a new chief executive, a year after its troubled ex-chief’s fall from grace over an alleged employee abuse controversy. sellev. has named Park Min-kyun as its new CEO, an official at the startup told The Investor on April 9.Park was formerly the chief marketing officer of media content maker GlanceTV. Since 2001, he has worked at several media production firms including giants such as Kakao and CJ ENM. “(
WeWork reinforces partnerships with local governments
Coworking space firm WeWork said on April 9 that one of its locations in Seoul will be utilized as a venue to foster fintech startups in Seoul.The fintech laboratory, the second of its kind to be operated by Seoul Metropolitan Government from July, will be located in the coworking firm’s office in Yeouido, a financial district that is home to 32 percent of all financial institutions, 40 percent of investment advisors, and 26 percent of domestic life insurance companies in the nation. WeWork’s Ye
Beiersdorf selects 5 Korean startups for accelerator program
German personal care giant Beiersdorf has chosen five South Korean early-stage startups to join its accelerator program at its new innovation hub in Seoul, according to sources on April 9. Sponsored by Beiersdorf’s flagship cosmetics brand Nivea, the innovation hub will house its first batch of K-beauty startups -- Reziena, Mesquare, Limese, LYCL and PANDA.Reziena develops internet of things devices for cosmetics and personal care. Mesquare owns a brand Glowhill that specializes in skin care pro
April 20, 2019
