The venture investment market delivered an “earnings surprise” last year as three indexes, including fresh venture investment, venture fund establishment and the amount of invesments recouped, all set a new record. The growth was led by 4.60 trillion won (US$4.07 billion) worth of new venture funds
For Choi Moon-soon, governor of Gangwon Province, 2018 must be a memorable year. In February and March, he hosted the PyeongChang Olympic and Paralympic Winter Games, which significantly enhanced the global recognition of the host city and province. In the June local elections, the governor was re-e
The world's first self-driving vehicle test city equipped with 5G network has been completed in Korea.The Ministry of Land, Infrastructure and Transport announced on Dec. 10 that it held a ceremony to mark the completion of "K-City" at the Korea Automobile Testing and Research Institute (KATRI)
A leading Korean startup entrepreneur urged the Korean government to ease regulations to jump-start the digintal economy in Korea.Kim Bong-jin, chairman of the Korea Start-up Forum, said that South Korea is already behind the U.S., China, Europe, and even Southeast Asia in the digital economy, which
South Korea is tightening regulations on startups, while other major countries in the world are pushing for regulatory reforms to accelerate the growth of new industries.According to data from the Hyundai Research Institute (KRI), the number of newly introduced or strenthened regulations totaled 9,7
South Korea’s top 10 business groups have increased their investment in research and development (R&D) by 10 percent on average in the first half of this year, according to data released by the Financial Supervisory Service.The data show that the total amount of R&D investments by 69 listed subsidia
The government has decided to invest 5 trillion won next year along to lay the foundation for the promotion of innovation-based high-growth future industries.The data economy (data, blockchains and the sharing economy), artificial intelligence (AI), and the hydrogen economy have been chosen as the t
The Korean government has launched the System Semiconductor Design Support Center to help entrepreneurs launch business in the system semiconductor field by providing support for technology development and marketing.An opening ceremony was held at the Korea Semiconductor Industry Association in Seon
The South Korean government is running a major research and development (R&D) project in the fifth generation display sector that surpasses organic light emitting diodes (OLEDs), a fourth generation display technology. This means that a serious crisis signal is facing the Korean display industry. In
The South Korean government has decided to expand the domestic data market, which is currently worth 6.3 trillion won, to 10 trillion won by 2022.The Fourth Industrial Revolution Committee, presided over by the president, held its seventh meeting on June 26 to finalize the strategy to revitalize the
More than half of Korean manufacturers are aware of the importance of the Fourth Industrial Revolution, but less than four out of ten are actually responding to it.The Bank of Korea (BOK) has released the results of a survey it recently conducted on 272 manufacturers to find out their responses to t
The Hanwha Group has selected the collaborative robot business as a future growth engine along with the solar cell business, hoping it would help meet the challenges of the Fourth Industrial Revolution.For this, the group separated Hanwha Precision Machinery from Hanwha Techwin last July, and early
The National Assembly has officially made a proposal to allow domestic initial coin offerings (ICOs). As the administration is sitting on its hands after imposing a total ban on ICOs in September last year, the National Assembly has come forward with an official recommendation.With the government fa
The Korean government will invest 2.2 trillion won in AI projects of the public sector over the next five years to develop AI technology and nurture 5,000 AI specialists.At its sixth meeting held in Seoul on May 15, the Presidential Committee on the Fourth Industrial Revolution finalized an R&D stra