Monthly Investment in Startups Exceeds 1 Tril. Won

Over 1.2 trillion won were invested in South Korean startups in June alone.

Startup Alliance reported on July 8 that a total of 108 investments that add up to 1,195.9 billion won were made in South Korean startups last month. The actual total investment is estimated at over 1.2 trillion won in that some startups are yet to make their data public.

In May, 82 startups attracted an investment of 1,110.2 billion won and the monthly investment exceeded one trillion won for the first time ever.

Last month, the figures more than doubled from 52 and surged almost 10-fold from 122.58 billion won compared to the same month of 2020. In addition, as many as 26 startups attracted an investment of at least 10 billion won each. Especially, the new investment in the financial sector was as large as 486.4 billion won.

The Wall Street Journal reported on July 7 that South Korea is becoming a hotbed of big technology startups and rise of these stand-alone businesses is notable in an economy long dominated by sprawling family-owned conglomerates.

According to market research firm CB Insights, South Korea is currently home to 10 unicorns and the number is the third-largest behind those of China and India in the Asia-Pacific region.

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