Until a couple of weeks ago Koreans had never heard of Telegram, the super-secure Berlin-based messaging app that is now causing waves. Telegram is attracting droves of Korean users away, for increased security. In Korea, KakaoTalk is installed on 95% of smartphones, and Kakao messages surpassed SMS messages a few years back. Kakao is known for its ease of use and expressive emoticons. But now Kakao, which has established a near-monopoly in Korea, is facing a serious…

Edited from Business Korea: Korea is once again proving to be a market where rapid adoption of new tech services (particularly mobile) can occur at phenomenal speed. Samsung’s Milk Music, Kakao Corp’s peer to peer payments service, and Berlin-based Telegram messenger are the most recent examples. These services have attracted hundreds of thousands or even millions of subscribers in the first few weeks after release in Korea, the world’s ‘most wired nation’….

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…

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…

beGLOBAL was the annual event held in Silicon Valley, hosted by beSUCCESS. In the following piece we take a look at two of the teams that were selected to pitch to investors at the event. Kairos Watches claims to have built the world’s first mechanical watch and has secured well over $1M in pre-sales. Team Blind has developed a secret messaging system to allow employees to communicated in the work setting anonymously….

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…

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…

One does not normally associate tech M&As with political strife. But the left leaning Daum and right leaning Kakao are facing exactly these issues on the day they announce their successful merger. Daum is Korea’s second largest internet portal that was acquired earlier this summer by Korea’s largest social messeging applilcation, Kakao. Daum is generally acknowledged to be skewed to the left on the political spectrum, whereas Kakao was previously caught up in controversy…

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…

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…

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….

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…

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…

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…

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…

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…

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…

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…

Kakao, the provider of KakaoTalk, a mobile messaging application and global mobile social platform, in partnership with global IT service provider LG CNS, has announced the launch of KakaoPay, a new mobile payment option for KakaoTalk users in South Korea. With over 93 percent of smartphone users in Korea currently using KakaoTalk, the new service is expected to provide a significant boost to Korea’s growing e-commerce industry. Kakao’s latest venture into the e-commerce/mobile payment space underscores…

Dates: Sep 15 – 16, 2014 Venue: Parc 55 Wyndham, San Francisco, CA GamesBeat 2014 is VentureBeat’s sixth annual event on disruption in the video game market. The event gathers top execs, investors, analysts, and entrepreneurs from the hottest companies to explore the gaming industry’s latest trends and newest monetization opportunities. This year’s theme is “Total World Domination.” Gaming is competing on the world stage to become the dominant medium for entertainment….