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…

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…

  “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…

“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…

Another promising initiative is Digital Entertainment Ventures (DEV). Launched in New York in 2012, DEV focuses mainly on media, entertainment and platform businesses, and only recently expanded to Korea. According to Kaine Kim the Co-CEO of DEV Korea, Seoul seemed to be the most suitable place for setting up a new office within the Asian market. This is in part due to the growing support of the Korean government, and the President’s…

“What separates us from other accelerators in Korea is the fact that we focus on global startups. You might say that everyone wants to go global, but startups in Korea are very focused locally.”                                                                                                                             Eugene Kim, SparkLabs Founded in December 2012, SparkLabs provides a small investment, mentoring and workspace in exchange for an equity stake in a company. The equity investment is equal to $25K and the equity stake…

“We are trying to come up with a realistic solution to help startups to relocate overseas. We are going to completely reimagine what people have done so far. We are going to determine what startups truly need.”                                                                                                                           Steven Baek, FuturePlay Founded in early 2014, FuturePlay focuses on funding early-stage tech startups. The company believes that in order to understand the market properly and have a solid basis, a…

“We think about ourselves more as a tutoring-based approach, a one-to-one approach”  Mark Tetto, The Ventures The Ventures was founded early in 2014 by Changseong Ho and Jiwon Moon, who formerly created Viki, a community-driven distribution platform for TV contents. The company was acquired last year by Japanese Rakuten for $200 million. The Ventures works very closely with startups for an un-specified period of time. Startups receive office space, mentoring and professional…

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 (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…

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…

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…

The proverbs say a good beginning is half the battle. Based on this Zikto is well on their way to success, having reached half of their KickStater goal on the first day. Update: On November 25 the $100k kickstarter goal was passed, with 27 days left on the campaign, which ends December 22. Zikto are the developers of ‘Arki,’ a wearable which helps to improve the walking posture of their user’s. While…

Seoul, with its rapidly growing startup ecosystem is gaining precedence as one of the most promising entrepreneurial hubs in the world. Home to two of the most influential global tech leaders, Samsung and LG, the perception of Seoul has traditionally been of a corporate hub. But this is now rapidly changing, as a new breed of tech startups rise and as the big boys begin to plateau. South Korea is now rapidly…

beSUCCESS is happy to announce that we are offering 25% off all GMIC SV tickets. To take advantage of this offer, please register using this code [GMICSVD32203F1]. GMIC Silicon Valley is the Largest Mobile Internet Conference in Silicon Valley and will be held December 1-3, 2014 Mobilizing the Next 5 Billion GMIC SV 2014 brings the global mobile ecosystem to Silicon Valley for three days of thought provoking presentations on the industry’s hottest…

Korea has traditionally been a powerhouse of manufacturing. Samsung, LG and Hyundai are formidable players in their respective industries globally and there are a myriad of smaller domestic companies that either support the big boys or have carved out their own niche. However, Korea has not traditionally been strong in software development, and this is now a national focus. From government directives, corporate strategy and a new breed of Korean tech startups,…

Seoul based MOCOPLEX has recently announced a strategic alliance with SMAATO, an Ad specialist company based in San Francisco. The partnership will leverage the unique expertise of each partner, while expanding their reach by combining Ad networks in their respective home markets. Much discussion in Korea has recently centered around the difficulties of successfully expanding into new markets. Korean/Asian startups often struggle to take hold outside their domestic borders. In the same…

Seoul, with its rapidly growing startup ecosystem, is gaining precedence as one of the most promising entrepreneurial hubs in the world. Home to two of the most influential global tech leaders, Samsung and LG, the perception of Seoul has traditionally been of a corporate hub. This is now rapidly changing, as a new breed of tech startups rise and as the big boys begin to plateau. South Korea is now rapidly moving…

  Samsung has recently announced that it plans to launch its first virtual reality headset in the U.S. in December 2014. According to a company statement it will then gradually expand the service into other countries. The device provides 360 degree rotating view, creating a life-like experience for users. It is currently linked to the Galaxy Note 4 through a micro-USB. Oculus VR’s Max Cohen believes that the future of VR will be…

Daum Kakao has finally launched its mobile money service, BankWalletKakao, a service allows users to spend up to $450 per day and transfer up to $90 per day. A number of other major players are likely to follow suit in the near future. It is suggested that these innovations, introduced by IT companies and not banks, could alter the shape of the financial industry in the future. Samsung, who released their own…