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TagHive tackles smartphone addiction of kids
For many parents these days, one major concern is their children’s addiction to smart devices. A 2017 survey by the Ministry of Science and ICT showed that 19.1 percent of 2,651 children aged between three to nine were categorized as “highly dependent” on smartphones, up 55 percent from 2015.In what could be a solu...
Coinone makes foray into Indonesia
[THE INVESTOR] Coinone, Korea’s third-largest cryptocurrency exchange, has launched services in Indonesia, the company said on April 16. Coinone Indonesia will receive pre-registrations for a month. The official launch is scheduled for the end of June. It will offer trading of six digital currencies including Bitcoin and Ethereum. “We would like to become a gateway to Indonesia that can correctly deliver the concept of cryptocurrencies and blockchain,” said Alan Song, the CEO of Coinone Indonesi
Intervest bets big on biotech, blockchain
[THE INVESTOR] Korean venture capital firm Intervest is focusing on three major areas which are expected to show significant growth: biotech, information technology and Southeast Asia. With 620 billion won (US$579.08 million) assets under management, Intervest’s team of 11 VCs invest in early-stage startups with new technologies. It is operating six funds in total with portfolio firms including biotech companies Genexine, Lunit, Tomocube and Noom; blockchain firm Blocko; IT firms Balance Hero, A
US investment firm KKR zooms in on Bithumb, Yanolja
[THE INVESTOR] US private equity giant Kolberg Kravis Robert is interested in investing in BTCKorea -- operator of the country’s second-largest cryptocurrency exchange Bithumb -- and leading accommodation platform Yanolja, according to industry sources on April 13. KKR’s executives are scheduled to meet their counterparts at Bithumb and Yanolja on April 13 via Korea Development Bank’s investment platform KDB Next Round. The event usually invites startups in series A and B funding rounds, but thi
Health care data startup Zikto seeks W30b ICO
[THE INVESTOR] Korean health care data startup Zikto is venturing into insurtech services with its initial coin offering aiming to develop a blockchain-based insurance data platform, according to industry sources on April 13. The firm has recently set up a regional unit in Singapore to debut its own digital token Insureum in May. It aims to issue tokens worth 30 billion won (US$28 million) and raise up to 20 billion won in the presale and public offering in the coming weeks. Related:[INTERVIEW]
[INTERVIEW] Sentbe seeks to make money transfer by migrant workers easy
[THE INVESTOR] In July 2017, a law allowing non-financial companies to offer global remittances went into effect in Korea, opening up opportunities for fintech startups to shake up the overseas money transfer industry that’s estimated to be worth 11 trillion won (US$10.30 billion) a year. Since then, 18 fintech startups have registered with the authorities for global remittance services as of March, according to the Financial Supervisory Service. While these firms are trying to take over the gro
[INTERVIEW] ‘YouTube’s profit model lacks transparency’
[THE INVESTOR] YouTube, a platform that has helped individuals ascend into global stardom, is now ridden with cheating schemes aimed at bumping up the number of subscribers and views. Some utilize bots to boost views, as it means more profits, while others never try to make a contribution to the platform after becoming a one-hit wonder. Chris Gale, a co-founder of blockchain-based video platform operator Verasity, said these problems stem from YouTube’s profit-sharing model which lacks transpare
WeWork accelerates expansion in Singapore
[THE INVESTOR] SINGAPORE -- Since the opening of its first Southeast Asian branch in Singapore, the New York-based coworking giant WeWork is making a foray into the city-state on full-throttle. WeWork made its much-awaited debut in Singapore in December on Beach Road. The three-story WeWork Beach Center already boasts 100 percent occupancy rate, with over 700 members, including startups, freelancers and corporates, using its hot desks and office space. Just last week, the coworking giant opened
Korean IT firms setting eyes on car-sharing services
[THE INVESTOR] Korea‘s IT firms are tapping deeper into the car-sharing industry, market watchers said on April 8, as demand for such services is expected to grow sharply over the upcoming years.According to the data compiled by Navigant Research, the global market for car-sharing services is expected to grow 21.8 percent annually, eventually to reach US$6.5 billion in 2024.The Korea Insurance Research Institute also estimated that local car-sharing firms counted 4.8 million people as members in
April 26, 2018
