EDITOR’S PICK
OnnuriDMC Develops Tech To Track Mobile Users In Real Time, Mobile Advertisers Rejoice

Sparklabs fourth batch recently kicked off and I had the chance to speak with one of their most promising startups, OnnuriDMC. OnnuriDMC operates a mobile advertising platform, CrossTarget, that the founders believe has solved a major issue for mobile advertisers; being able to track users in the mobile app environment in real time. Background In the PC environment advertisers are able to easily track user behavior through cookies, but this is generally…

Korean Bitcoin Startup Devign Lab Secures Investment From K-Cube Ventures

K Cube Ventures, an early stage investment firm in Seoul, announced today that they have invested about $200K in Bitcoin startup ‘Devign Lab’. Devign Lab has developed a bitcoin market called Coinone. Devign Lab claims to be the first web based home trading system (HTS) in South Korea and aims to provide up to date bidding/contract information for users. Their one click payment system ‘Coinpay’ provides payment services with a 0% transaction fee. Their mobile application is currently in…

Seven News Items From Korean Tech This Week
931일 전

1. Korea comes in 2nd place for the fastest internet speeds, 1st in other metrics According to a recent report by Akamai Technologies, South Korea’ average peak connection speed was 72.1 Mbps, lagging behind Hong Kong with 73.9 Mbps. Despite this result Korea remains top in the world for a number of other internet speed metrics including, highest average connection speed (24.6 Mbps). Hong Kong is the runner-up in this metric, at 8.9…

Top Five Tips For Korean Startups Seeking Opportunity In South East Asian Markets
932일 전

It’s one thing for local entrepreneurs to scale across Southeast Asia. It’s quite another for foreign entrepreneurs to do the same. The economic and logistical constraints unique to the region are already difficult to tackle: lack of a universal payment method, like credit cards or PayPal; relatively poor infrastructure and logistics; and hard-to-reach consumers who are more inclined to purchase offline than on. But foreign entrepreneurs have the added disadvantage of being…

Chinese Smartphone Manufacturers Set To Invade Korean Turf For the First Time
936일 전

As reported in Business Korea, Chinese handset maker Huawei is launching a mobile handset offensive against domestic powerhouses Samsung and LG, in the Korean market. The company will begin their invasion with a new flagship smartphone, set to compete with the more economical domestic options. Samsung Electronics will also make a stronger effort in the Chinese market to increase its market share, particularly in premium level handsets. Huawei is planning to target…

New Global Strategies Required For Korea To Realize Opportunities In ICT
937일 전

For as much as the last fifteen years Korea has been emerging as one of the front-runners in global tech innovation, but has failed time and time again to capitalize fully on the opportunities. Smartphones, 4G mobile internet, MP3 players, social networks, and mobile payments are just a few examples. Nowadays, the U.S. and China, not Korea, are spearheading the growth of these markets and Korea is at a dangerous position, likely…

The English beSUCCESS Media Team is Hiring – Apply Now
938일 전

3-month contract, with possibility of extension to a full time position Team: English Editorial Team Level: Junior team member How to apply: Please email your resume and cover letter to nathan@besuccess.com What is beSUCCCESS? beSUCCESS is Korea’s leading media and events platform that helps Korean technology startups find success beyond their domestic borders. We achieve this through media and events, as well as a wide range of other local and global initiatives….

Applications Open For YES Challenge Korea 2014, Empowering Global Youth Entrepreneurs

SMBA (Small & Medium Business Association) & KOVA (Korea Venture Association) will jointly host 2014 YES Challenge Korea in Seoul, November 16-21. This global event is designed to inspire young entrepreneurs under the slogan, “Make it possible! Yes Challenger!” Attendees will build a range of skills including global problem-solving for social change and entrepreneurship. This will be facilitated through workshops and sharing sessions. Over 30 executives and entrepreneurs will appear at the event to share their insights…

Seoul-based Hello Nature, An Online Grocery Retailer, Raises $1.4M

Hello Nature (Byung Yul Park, CEO), an online grocery retail startup, has announced a US$1.4 million investment from Softbank Ventures and Mirae Asset Venture Investment. Organic foods are popular among Koreans, and according to the Ministry of Agriculture, Food and Rural Affairs, the organic food market is expected to reach near four billion dollars by 2014. Unlike other online grocery retailers in Korea, Hello Nature offers compact package delivery services called “nature-friendly…

Meet The Ten Billion Dollar Companies That Make Up The Korean Unicorn Club

Last December, Aileen Lee from Cowboy Ventures, identified 39 software startups that have reached valuations of over $1 Billion, and grouped them under the moniker of The Unicorn Club, in her landmark TechCrunch post. Since then, software startups with valuations of over $1 Billion are being commonly called “Unicorns” in Silicon Valley and worldwide. On the conclusion of a second very successful beGLOBAL 2014, where ten Korean startups featured in Silicon Valley, we…

A look into the beGLOBAL Startups: Keukey and Vingle
942일 전

The second beGLBOAL in Silicon Valley, September 12th, clearly demonstrated that Korean entrepreneurship has come a long way in the last 12 months. Here we take a look at two of the companies that showcased at the event which again gathered some of Silicon Valley’s top investors and entreperneurs to discuss global entrepreneurship and investing. Ten carefully selected Korean startups also showcased, hopeing to attract the attention of US investors, partners and…

Seoulites Who Crave Foreign Food Can Now Have it Delivered Thanks To YNot-Takeout
942일 전

We have covered the blossoming food delivery market in Korea quite extensively on beTECH and while the market is firmly dominated by leaders Yogiyo and Baedal-Minjeok, there’s a new kid on the block, serving the growing apetite in Korea for foreign cuisine. YNot-Takeout has been around for a few months and I caught up with CEO Phil Neiland for an update. Get involved in YNot-Takeout by supporting their indiegogo campaign here. Ynot-Takeout.com…

As Sparklabs’ Fourth Batch Kicks Off, What Can We Can Expect From The Teams?

SparkLabs, one of Seoul’s leading accelerators, has recently started its fourth session and over the next three months will be assisting in the growth of another ten startup companies.  The ten companies range from healthcare to Internet of Things to social enterprise. “Our fourth class ranges from bootstrapped companies with products at their alpha stage to those that raised a couple million and are shipping their product, but every team we selected is…

As ‘Silicon Valley Mindset’ Takes Hold In Korea Samsung Employees Leave To Found A Startup
943일 전

David Lee and Ryan Kwon, founders of a new startup Mobidoo, had hit the career jackpot by securing lucrative roles in Samsung. But chasing a bigger dream, but have now left to start their own company. While stories like this are still rare, they demonstrate a growing number of Koreans who are embracing the ‘Silicon Valley mindset.’  These brave young people are embracing the risk and opportunity presented by entrepreneurship instead of…

Silicon Valley Meets Asia in San Francisco Sep 12th, Join the Global Tech Discussion at beGLOBAL

Korea has long been known for lightning-fast internet and mobile broadband speeds. Now the country’s startups are also garnering global recognition. In the last 12 months Korean founders have been backed by the likes of Y Combinator, Tech Stars, Sequoia Capital, Altos Ventures, and Formation 8. Two local ventures also achieved ‘Unicorn’ status (a valuation of $1Bn or more) earlier this year. Kakao Talk, the country’s dominant mobile social platform is now valued…

beGLOBAL, One of Asia’s Pioneering Tech & Startup Events Returns to San Francisco, September 12th

The profile of Korean entrepreneurship has been steadily increasing over the past three years and some have heralded 2014 as the year that could make or break this ecosystem on the move. beSUCCESS has been at the forefront of tracking growth of the ecosystem over the past three years through its media channels and global startup and tech focused conferences. The organization will hold its stateside event September 12th in San Fancisco….

As Google Commits To New Seoul Campus And Overseas Interest Intensifies Samsung Remains Absent From Local Scene
971일 전

Google, on an international mission to rapidly connect with the global startup community, has recently announced that it will open a startup campus in Seoul, Korea next year. This comes at a time when Korean entrepreneurs are beginning to prove that they have what it takes to make an impact, as exemplified by a statement from Google’s Bridgette Beam: “Korean innovators and entrepreneurs are some of the best in Asia, and Korean startups are making headlines around…

Healthcare Wearables Startup YBRAIN, From Seoul, Raises $3.5M In Series A Funding

Healthcare wearables startup Ybrain announced today it closed on $3.5 million in Series A funding in a round led by Stonebridge Capital bringing company’s total raise to $4.2 million. The Korea-based startup, founded in Feb 2013 by a Caltech neuroscientist and Samsung engineers, offers healthcare wearables for Alzheimer’s disease patients. Ybrain is a brain signal based wearable device start up building mobile health and wellness solution platform for the healthy and impaired….

Korea’s Top Messeging App, Kakao, Named “Technology Pioneer 2015” by World Economic Forum
972일 전

The award has recognized the company’s ability to ‘harness creativity and shape an impactful mobile ecosystem’ Kakao, the provider of KakaoTalk, Korea’s leading mobile messaging application and mobile social platform, has been named a 2015 Technology Pioneer by the World Economic Forum, making it the first Korean company to be recognized since 2001. Chosen from among 24 of the world’s leading technology organizations, the award recognizes the company’s ability to design transformative technological…

Korea’s Top Bitcoin Startup Raises $3 Million to Expand Bitcoin Adoption in Korea & Beyond

Korbit, Korea’s leading bitcoin exchange, wallet and merchant processor, has just closed a $3 million Series A funding round led by SoftBank Ventures Korea. Pantera Capital led the round from the US, with participation from BAM Ventures and previous investors Bitcoin Opportunity Corp., Tim Draper, Pietro Dova and initial investor Strong Ventures. Korbit launched their bitcoin exchange last year and have now added two new bitcoin services and aim to continue building the…