lang_en
‘A-33 Studio,’ A Seoul Based Gaming Startup, Aims To Revolutionize Moble Gaming

K Cube Ventures recently announced a $700,000 investment into mobile game developer ‘A-33 Studio.’ With this investment A-33 Studio will focus on ramping up their mobile FPS game production and aim to be ready to release their first title by end of next year. The title is named ‘Project S’ for now, and is an ambitious plan to maximize online mobile FPS game experience by integrating a fully optimized user interface along…

Korean Government Plans Easing of Fintech and IoT Regulations To Encourage Growth
894일 전

As reported by Business Korea, the  Korean government recently announced that it plans to relax regulations on new innovation-driven industries, including as financial technology (fintech) and the Internet of Things (IoT). This is a positive regulatory signal for local startups in these industries that have struggled against regulation. It also bodes well for the new startup accelerator in Seongdo, that will run its first hardware / IoT / Smart home program in 2015. At…

Opportunities And Threats In Korea’s Blossoming E-Commerce Market
895일 전

Social Commerce In Korea Is A hot Topic These Days With Coupang’s Recent $300 Million USD Fundraise – Here’s a Review of the Market from our friends at Business Korea. In May 2010 social commerce arrived in Korea, thanks to local player, TMON. In the same year two other local players also started operations, Coupang and. Four years later, three companies are still operating at a loss, engaged in fierce competition. Coupang has…

Chinese Language Education Company Chinada secures $1 Million USD from Soft Bank Ventures

Based in Seoul, Chinese language education company CHINADA have secured $1 million USD from Soft Bank Ventures and Coolidge Corner Investment. Their digital educational program ‘Chinatan’ is unlike other typical systems that focus on grammar and reading. Instead it is aimed towards improving conversational skills. It simulates real life situations, such as markets, restaurants, university campus, hotels, etc. This allows students to experience day to day situations experienced by locals. To build…

Yellow Mobile’s Location-Based SNS ‘1km’ Targets Global Market With International Version
898일 전

Yello Mobile’s location-based SNS ‘1km’ has announced the launch of their international version, which now supports ten different languages including English, Chinese, Spanish, and Thai. Riding the current of ‘Korean-Wave’, they are targeting South-east Asian and Latin American countries, which are hotspots for Korean popular culture. There is a long term plan to expand their global coverage further in the future. The app, which uses GPS to connect people within a 1km…

DEV Korea’s New Accelerator Holds First Demo Day In Seoul, Showcases Eight Startups
899일 전

DEV Korea’s Startup Acceleration Program ‘Start it Up in New York’ Demo Day will be held in seoul this afternoon. DEV Korea is one of a growing number of domestic and international accelerators in Seoul that are capitalizing on the rapid growth in the domestic startup ecosystem Sparklabs will also hold their demo day December 11. DEV Korea was nominated as the 2014 Global Accelerator Develop Management Agency by the Ministry of…

Coupang, Korea’s Top E-Commerce ‘Startup’ Closes $300 Million USD From BlackRock

“We want to be the Amazon of Korea. We are the largest online retailer here, and we’re one of the most well-funded tech companies in Korea.” CEO of Coupang, Bom Kim in an interview with Forbes To accelerate this growth Coupang has just announced another huge funding round, worth $300 million USD, from BlackRock Private Equity Partners. This follows fast on the heals of another $100 million USD round led around five months…

Couples App ‘Between’ Hits 10 Million Global Downloads, Celebrates Three Years In Operation
900일 전

Two weeks after the third anniversary of founding Between, the world’s largest social network for couples, has hit a major milestone, achieving 10 million global downloads. Since launching 3 years ago, Between has enjoyed 100% year-on-year growth. What is perhaps even more encouraging is that in 2014, much of this growth came from overseas markets, such as Japan, Taiwan and Southeast Asia. Japan hit its 1 million local downloads earlier this year,…

KakaoTalk Answers User Concerns Over Privacy, Adds ‘Secret Chat’ Function
901일 전

Perhaps in response to user concerns around privacy, Daum Kakao has just introduced ‘Secret Chat’ mode and ‘Decline Invites’ features for their KakaoTalk messenger, adding a higher level of privacy to the service. The new features provide users with increased options on how communications are carried out – and with whom. Secret Chat mode is a new type of chatroom that employs end-to-end encryption on all messages exchanged within the chatroom. The…

CEO of Baedal Minjok Talks About How He Raised $36 Million From Goldman Sachs [Part 2]

This is part two of this story. Part 1 here In 2010 when Bong-jin Kim left’ Naver’ (Korea’s primary online search portal), he had no idea about Venture Capital or ‘Exit’. Additionally, he had no interest in global expansion. He built his startup to focus on solving ‘small issues that Koreans face in their daily lives’. Yesturday we discussed how he raised his first three rounds of funding. Today we look at how…

CEO of Baedal Minjok Talks About How He Succeeded In Raising $36 Million From Goldman Sachs [Part 1]

In 2010 when Bong-jin Kim left’ Naver’ (Korea’s primary online search portal), he had no idea about Venture Capital or ‘Exit’. Additionally, he had no interest in global expansion. He built his startup to focus on solving ‘small issues that Koreans face in their daily lives’. That is how Baedal Minjok started. But recently his ‘startup’ raised $36 million USD from Goldman Sachs. He concluded, “if a person like me who had…

Startup And Entrepreneurship Events In Seoul, Korea: November – December
905일 전

  As Seoul establishes itself as one of the key hotspots in Asia for startups and entrepreneurs, a large number of events aimed at entrepreneurs are springing up to support this growth. Here is a calendar of events for startups and entrepreneurs in Seoul, from November 20th to November 27th. Check in soon for the next instalment. We are also happy to add your startup-focused event to our calendar. If you’d like…

China’s Tencent Opens Its Doors To Korean Gaming Comapnies

We reported recently that Chinese investors have been making inroads into Korea. Now we are seeing the first signs of what fruits those investments are likely to bear. As reported by Business Korea, Korean gaming companies are beginning to target the Chinese mobile gaming market, in partnership with Tencent. In a new trend for the Chinese internet giant, Tencent is now actively opening its doors to Korean companies interested in entering the…

Korean eBook Store Ridibooks Just Raised $8 million In Series B investment

eBook store ‘Ridibooks’ just announced an $8 million investment from Neoplux, Atinum Investment, Company K Partners, and Mirae Asset Ventures. Ki-sik Bae, a representative from Ridi Corporation has gained notoriety in the local publishing market as he has consistently been dedicated to returning around 75% of the profits from sales on his platform to the writers since 2008. This was around the time that the first iPhone was released. During a previous…

beSUCCESS Talks With Tapjoy & 5Rocks About Their Recent Merger, And Ongoing Integration

  “The Core of Mobile Advertising is Demand Estimation” Tapjoy, the company that recently acquired 5Rocks talked with a beSUCCESS editor about their first jointly produced product. In August this year mobile game analytics company 5Rocks from Korea was acquired by USA-based mobile advertisement platform Tapjoy. With 14 overseas branches and 600 million users per month Tapjoy is the world’s largest mobile advertisement company. Complimenting this portfolio, ‘5Rocks’ is an exemplary mobile…

One of Korea’s Top Accelerators – KStartup
  ·  910일 전

“The upcoming two years will be a defining point for the Korean startup ecosystem” KJ Byeon, KStartup Started as a pilot program in 2012, Kstartup officially launched in January 2013 and is now regarded as the biggest acceleration / incubation program in Korea. Supported by both Korean and American corporations (including Google, Banks Foundation for Young Entrepreneurs, and SK Planet), it focuses on early stage startups that aim to build global companies. Founders are…

Korean Delivery App, Baedal Minjeok, Secures USD36 Million From Goldman Sachs

It has been announced in Korean media this morning that the country’s leading food delivery service (Baedal minjeok) has secured funding of USD36 million from Goldman Sachs. JaeHyun Lee, in charge of the Korean investmnet said: “Korea is a very exciting market for e-commerce and we are excited to be partnering with Baedal Minjeok, to help them solidify their position in Korea and expand into new markets.” Kim BongJin, CEO of Baedal…

Birdview Raises $600k from CyberAgent Ventures and Bon Angels To Bring You Even More Korean Beauty Information
914일 전

Birdview (HwaHae in Korean), a cosmetics and beauty focused startup in Seoul recently announced that they have around $600k from Bon Angels Venture Partners of Korea and Cyber Agent Ventures of Japan. Birdview was founded by three High school alumni, Woong Lee (CEO), Yong-jin Kim (CPO), and Woo-hyun Chang (CMO) during their college years. The company has developed a mobile app ‘Hwa-Hae’ (meaning reconciliation in Korean) which provides cosmetic brand information, precisely analyzes…

ENOMAD, The Hydro-Power Techies From Seoul Bringing Mobile Power To Remote Locations
914일 전

Last summer, crowds gathered around the free smartphone charging station set up near Chungye-stream in the heart of Korea’s capital.  The service was developed by ENOMAD a local startup and attracts people with music during the day and lights after it gets dark. We met up with the team do discover more about how they are ‘bringing electricity to places without wires’. Q. please introduce ENOMAD. A. In the developed world we…

Korean Game Startup ‘IDIOCRACY’ Secures $500k After 8-Week Course On Entrepreneurship & Company Building
915일 전

oIDIOCRACY is a cross format game that allows both PC and mobile users to play simultaneously. As a board game it is also accessible to players of all groups of ages. “I was very happy with the reasonable terms of investment from our Hong Kong investors, and the quick turnaround process,’ stated a company representative. “We are now adding the final touches, ready for release.” While the team’s first title is for…