South Korea’s tech news in June 2023 covered items including chiplets technology in the semiconductors sector, Hyundai’s successes in the startup space across innovation and job creation for South Korea, deepening ties between the South Korean and Saudi Arabian VC sectors, and more.
Hit the Korean tech news headlines below for the articles behind them.
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Korea Blockchain Week 2023: September 4-10
- South Korea’s LG Electronics partners Canada’s Tenstorrent for ‘chiplets’, semiconductor modules in this case optimized to run AI models
- South Korea’s WEMIX inks MOU with Abu Dhabi’s Hub71 to develop growth opportunities for respective portfolio companies and Web3 startups
“On one hand, chipmakers Samsung…and SK Hynix…depend on US technology and equipment. At the same time, about 40% of South Korea’s chip exports go to China…”
- Inaugural South Korea-Pacific Islands Summit sees growth in defence cooperation with Korea to join Indo-Pacific Endeavour drills, and underwater mines detect-and-disarm program
- Major South Korean trading firm, SK Networks, to invest $2M in Series A funding for the Netherlands’ SourceAg, focusing on AI-driven greenhouse automation solutions
South Korea: ComeUp Startup Festival 2023 – November 17-19
- South Korea: Former Samsung exec arrested over theft of factory and clean-room blueprints used in unsuccessful bid to replicate facilities in China
- South Korea and Saudi Arabia announce creation of joint $160M fund to invest in South Korean and Saudi startups
“A total of 30 startups have been spun off from Hyundai so far, generating a total of 280 billion won in sales and creating more than 800 new jobs.”
“Hyundai invested a total of 1.3 trillion won ($1 billion) in fostering more than 200 startups since 2017, including those started by our own employees,” said Hwang Yun-seong, head of the Open Innovation Investment team at Hyundai Motor Group, during the event on Thursday.
“The investments in these startups, both local and overseas, were made via Hyundai Cradle, the company’s unit focused on identifying and investing in innovative start-ups, whose Korean base is called ZER01NE.”
- South Korea: Wrtn generative AI startup gains near $12M with local-language text creation
- South Korea: Seoul to build ‘Seoul Unicorn Startup Hub’ by 2030, set to be world-largest startup campus, with $1.3M assigned under Seoul Startup Policy 2030 for construction and investments
KPMG Venture Pulse Q2 2023 Report – Asia findings
- South Korea: 7-Eleven to offer deliveries via Neubility self-driving robots, trialing in select areas in southern Seoul in October
- South Korea’s KakaoBank inks MOU with Thailand’s SCBX on acquiring a license for internet-only bank services in Thailand
- South Korea: An intro to inDJ, AI algorithm-backed music recommendations drawing on data from users’ devices like smartwatches and smartphones to suggest music, channels and broadcasts
- South Korea: Ministry of SMEs & Startups launched Regional Angel Investment Fund to boost initial investments in non-metro areas of the country
North Korea’s hacking “…still heavily focused on information collection, or cyber-espionage, and they conduct more of those operations than they do financially motivated or financial theft operations.”
Taiwan and South Korea ties grow: “..still compete as fellow exporters of tech hardware, but now they are keen on working together to weather world geopolitical shifts…”
CSIS: Mapping semiconductor supply chains – Indo-Pacific’s importance
ASIA’S TECH NEWS: DAILY & WEEKLY
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