South Korean technology news headlines in June 2024 covered subjects including: aggregated generative AI services offered by Korea’s Wrtn Technologies; the Korean government’s $12 billion tax cuts for the semiconductor industry; the backing-away from NFTs by major Korean retailers; South Korea’s Mars mission ambitions; and more.
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South Korean National Cyber Security Strategy
- South Korea: Gov’t to offer $12.2 billion in loans for semiconductor chipmakers from July, alongside tax breaks for other ‘national strategic technologies’ / full item
- South Korea’s Innospace secures contracts for $1.5M from Italy’s CShark and Thailand’s EOS ORBIT to place satellites into orbit / full item
- South Korea: SK Telecom and 6 partners including Nokia unveil X Quantum alliance, aiming to grow the quantum ecosystem via joint marketing and opportunity exploration / full item
- South Korea: Ministry of Science & ICT and Korea Internet & Security Agency to invest $14.5M in 6 public sector blockchain projects, including CBDC platform with Bank of Korea / full item
- KoreaTechDesk’s next Virtual Demo Day is set for June 24th, showcasing 3 Korean tech startups / full item
- South Korea: Survey finds Open AI ChatGPT app has over 3 million monthly users in South Korea, fully 6% of the country’s smartphone users / full item
Why should we care about the Indo-Pacific?
- South Korea: Virtual Asset User Protection Act comes into force in July, meaning regulators may consider ending transaction support for 600 or so altcoins on virtual asset exchanges / full item
- South Korea: Major retailers including Lotte and Hyundai announce closure of all NFT operations / full item
- South Korea: Sapeon and Rebellions artificial intelligence chipmakers to complete merger by Q4 to boost foothold in the global AI chips market / full item
- South Korea: A quick overview of Gangnam-gu district’s Start Track, a 560-meter stretch dedicated to startups / full item
- South Korea: A quick intro to 3 tech startups from May’s KoreaTechDesk Virtual Demo Day, working in e-commerce admin, robotics and AI content / full item
BIS Project Nexus, cross-border payments at scale
- Here’s a brief outline of how Seoul, South Korea, can work as a Southeast Asia expansion HQ for your tech startup / full item
- South Korea: Wrtn Technologies raised $18.3M with aggregated AI services drawing on OpenAI ChatGPT4, Stable Diffusion 3 and Anthropic’s Claude 3 and others / full item
- South Korea: First sub-fund of $1.4 billion Startup Korea Fund project launches, aiming to raise $588M in H2 of this year / full item
- LG Energy Solution opens applications for Battery Challenge 2024, seeking innovations and startups in all aspects of battery tech and energy storage / full item
- South Korea: A brief interview intro to Autocrypt, provider of automotive cybersecurity and mobility solutions, building on partnerships with BMW, Hitachi, Vingroup and others / full item
- South Korea proposes Mars landing by 2045, with $72 billion spend projected until then on space exploration and preparations / full item
- “Apparently, North Korean IT workers are pretending to be Americans, interviewing for remote US tech jobs, landing as many jobs simultaneously as they can, and funneling the salaries back…” / full item
- Philippines: South Korea’s Kakao and Japan’s LINE partner for Kaia blockchain platform in the Philippines, focusing on Web3 gaming and associated opportunities / full item
- Seoul Metro Gov’t foreign investment agency to host ‘Seoul Forward, Your Next Business Destination’ conference in Hong Kong on June 11th, looking to draw HK firms and startups to Korea / full item
Critical technologies, globally, in Q2 2024
Indo-Pacific tech news editions
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