[Korean Startup Weekly News #1] From Travel to Tech: Korean Startups Fly High with Focus on Innovation, Global Markets, and Re-entry

• Stay informed about the latest news in the Korean startup ecosystem every monday.
• 한국어 스타트업뉴스는 여기를 참고하세요.(Click here for daily startup news in Korean)
• Period : Jan 10th – 21st, 2024

Headline

Korea’s USD 3.1 Billion Startup Boost: Diverse Support for Innovation and Global Expansion
Korea’s Ministry of SMEs and Startups approves a comprehensive program, allocating USD 3.1 billion to support diverse initiatives, including technology innovation, global market entry, and re-entrepreneurship.

• The MSS of South Korea Boosts SMEs and Micro-enterprises with KRW 8.7 Trillion in 2024 
• Targeting $425 Million in 2024: Korea’s Startup Korea Fund Gears Up with Private Partners   

Latest Funding News

Check out the latest funding news for Korean startups

Myrealtrip, a Korean Travel Super App, Attracts KRW 75.6 Billion in Investment, Expands Market Reach
Korean travel super app Myrealtrip raises KRW 75.6 billion from global and domestic investors, plans to expand services, and secures a significant market position post-pandemic.

Elice Secures KRW 20 Billion Investment from Vertex… “Applying AI Across Infrastructure, Platform, and Content”
Elice, a South Korean educational platform, secured a KRW 20 billion investment from Vertex to enhance AI in education, developing a comprehensive platform and expanding globally, particularly in the APAC region.

GeneCraft Raises KRW 10 Billion in Series A for Advanced Lung Cancer Gene Therapy
GeneCraft, a Korean biotech firm, secures KRW 10 billion in Series A funding for developing lung cancer gene therapies, with plans to globalize and expand CRDO services

ORANGE SQUARE Secures KRW 10 Billion for Tourism-Focused WOWPASS Growth
ORANGE SQUARE, a Korean company offering WOWPASS and unmanned exchange services, raised KRW 10 billion in Series B funding to expand its foreign tourist-focused payment and currency exchange infrastructure.

• OptimizerAI Gains KRW 1 Billion Pre-Seed Investment from Global VC Andreessen-Horowitz 
• Groo Raises Pre-Series A Funding for AI-Driven Plant Growth Management
• VIENCE Secures Investment for AI-Based Biomedical Image Analysis Platform
• South Korean Blockchain Innovator FOUR PILLARS Secures KRW 700 Million Investment
• GHOSTPASS Secures Pre-Series A Funding for Decentralized Biometric Security
• ADUS Secures Investment for Autonomous Solutions    

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

Oumaima on Her Mission to Connect K-Startups to the Middle East
Oumaima Fatih commits to bridging Korean startups and the Middle East, emphasizing the need for an open mind to unlock new growth and collaboration opportunities

[Korean Startup Interview] CAST: Pioneering Eco-Friendly Sterilization with Microplasma Technology for Global Impact
CAST, a Korean startup founded in 2019, uses eco-friendly microplasma technology for sterilization, addressing environmental issues without chemicals. They’re expanding globally, focusing on food and water safety and carbon neutrality.

[Korean Startup Interview] GLOUD Leads Dental Clinics into the Digital Age

Others

‘Inshorts’ Introduces New Era of AI-Based Product Placement Solutions in Korea
Inshorts’ AI solution revolutionizes Korean drama product placement, integrating brands post-filming, enhancing viewer experience, and offering global advertising opportunities.