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Jan. 5, 2025
Posco-backed startups dominate innovation awards

South Korean steel giant Posco Group said Sunday that four startups it supported were honored with awards at a startup competition earlier this month. Aiming to promote entrepreneurship in Korea, 10 government agencies, including the Ministry of SMEs and Startups, jointly host the K-Startup Grand Challenge annually. This year, 6,238 teams participated in the competition, which was divided into two leagues -- one for enterprises established within the past three years and another for aspiring ent
Nov. 21, 2024
Mercedes-Benz Korea helps startups expand globally

Mercedes-Benz Korea announced Thursday that it invited nine promising Korean startups to its headquarters in Stuttgart, Germany, earlier this month as part of its efforts to foster global growth opportunities for innovative companies. The five-day program, held in collaboration with the Korea University Research and Business Foundation, Sejong, ran from Nov. 11 to Nov. 15. The selected startups toured Mercedes-Benz’s Sindelfingen plant and the Mercedes-Benz Museum to learn about the auto
Oct. 13, 2024
[Herald Interview] JM.Wave 'repowers' pollutant vehicles into emissions-free EVs

As global carmakers rush to make the costly transition to carbon-free electric vehicles, Park Jeong-min, CEO of the Seoul-based startup JM.Wave, asks, “What about the remaining internal combustion engine cars?” The 7-year-old company holds the "repowering technology" that converts vehicles with internal combustion engines into EVs. It is also the first to get regulatory sandbox approval from the Ministry of Land, Infrastructure and Transport after passing a safety verifica
Oct. 2, 2024
[Herald Interview] Sleep tech startup Munice seeks bigger footing in US

In a world where sleep disorders reportedly affect millions, South Korean startup Munice is offering a unique and science-based solution. Their app, Nightly, specializes in using a specific type of rhythmic sound frequency, called monaural beats, designed to promote relaxation and deep sleep. According to CEO Kwon Seo-hyun, 26, Nightly helps users fall asleep faster and experience deeper rest through brainwave entrainment. The app encourages electrical oscillations of the brain to synchronize w
Aug. 18, 2024
Rebellions, Sapeon Korea merges to challenge Nvidia

Artificial intelligence startup Rebellions and Sapeon Korea officially signed a merger, signaling the birth of the country's first AI unicorn, SK Telecom, Sapeon Korea’s parent company, said Sunday. Rebellions, a fabless chip designer valued at 900 billion won ($664 million), and Sapeon Korea, the AI chip supplier for data centers valued at 550 billion won, have joined hands to carve out a spot in the global AI chip market that is currently dominated by US-based graphic processing unit ma
Aug. 18, 2024
SK Networks to invest $30m in SBVA’s AI-focused fund

SK Networks said Friday it will commit $30 million in a $130 million fund formed by SBVA to invest in artificial intelligence startups. It is the second-largest investment among fund participants. The SBVA-led fund -- Alpha Intelligence Fund -- plans to focus on investing in promising early-stage startups in the AI, robotics and deep tech fields. SK Networks, a general trading affiliate of SK Group, which announced its vision as an AI company this year, plans to go beyond fund investment and
June 17, 2024
'Korea's Space X' Innospace to go public in July

Innospace, a South Korean startup specializing in developing hybrid space rockets, said Monday that it will go public on the country’s tech-heavy bourse Kosdaq next month, spearheading the private sector’s space shuttle era. “In order to commercialize space projects such as data services using communications and Earth-observing satellites, space exploration, space travel and asteroid mining, space launch vehicles, which can carry satellites, people and supplies to space, are
May 22, 2024
A.Virtual's air sanitizer hits Dubai market

Air sterilization solutions provider A.Virtual said Wednesday it would introduce its air sanitizer to the Dubai market through a partnership with Sharaf DG, the largest electronics retailer in the Middle East. A.Virtual's air sanitizer with sterilization capabilities will be exclusively available in Sharaf DG's five stores in Dubai, located in Dubai Mall, Deira City Centre, Times Square Centre, Mirdif City Centre and Dubai Hills. Sharaf DG operates over 40 stores across the Middle East and Af
May 13, 2024
Toss Securities logs record quarterly profit in Q1

Toss Securities, the online-only brokerage arm of Korean fintech giant Viva Republica, continues its upward trajectory, marking a significant milestone with its highest-ever quarterly net profit in the first quarter. The company announced Monday that its net profit soared to a record 11.9 billion won ($8.7 million) in the first quarter, rebounding from a net loss of 400 million won in the same period last year. This figure is equivalent to eight times the annual net profit of 1.5 billion won
April 24, 2024
Korean robot startup aims to transform human walking

South Korean robotics startup WIRobotics aims to transform the walking experience via its award-winning wearable robot WIM, made lighter and more convenient for everyday use, the company's chief said Wednesday. "We believe humans will be able to enhance walking and physical abilities with the assistance of the interactive robotics technology, and have thought wearable robots will be optimal," WIRobotics CEO and Chief Technology Officer Kim Yong-jae said at the press conference in Seo

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Jan. 23, 2025

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