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The Korean New Deal – A Complete Breakdown
As the Korean government looks to recover from the coronavirus pandemic, Asia's 4th largest economy will need to deal with not only high unemployment but the closing down of many businesses in Korea. Therefore the Korean government has recently announced the Korean New Deal which plans to invest…
The Reason Why Korean Startups Only Last a Year
Here is a reality that most Korean startups need to know and understand. Over 70% of all Korean startups only last a year. These startups set up operations in all kinds of sectors such as e-commerce, health care technology, robotics, AI, logistics, IoT, and etc. Close to 800,000 startups all over…
When Will Seoul to Launch their own Cryptocurrency the S-Coin?
China made headlines in cryptocurrency when it launched its pilot digital yuan (e-CNY) in early 2022. The digital currency works through a mobile app, e-CNY, available on Android and Apple app stores. The pilot program included 23 cities in China, such as Beijing and Shanghai. In South Korea, in…
Korean Cosmetic Industry – Overview of the K-Beauty Market
Due to the rise in demand for K-Beauty products in the United States and Asia, exports of cosmetics in Korea went up 16% in 2020 to $7.5 billion. The data was collected by the Korea Customs Service and the Korea Cosmetic Association. This means that South Korea is currently the 9th largest…
Clova by Naver – The Siri of South Korea
The AI technology sector in Korea is on the rise. AI is now incorporated into smartphones via virtual assistants such as in the case of the iPhone's Siri. South Korea has its own "Siri" and it is CLOVA, a virtual assistant developed by Korean Internet giant Naver. Most global IT companies have…
The Electric Vehicle Industry in Korea – 3 Million EVs by 2025
The South Korean government plans to invest heavily in the electric vehicle (EV) industry in the coming years. The electric vehicle industry in Korea is in massive growth thanks to the support of the government. They will be incorporating the same low-emission subsidy/tax credit strategy used by…
