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Ways Foreign Players Can Dominate the SaaS Market in Korea
Competition in the SaaS (Software as a Service) space is increasing as customers are looking for better solutions to their problems. Korea has been known for its innovation in the tech space. Many software companies in Korea have sprung up. Thanks to the easily deployable infrastructure like AWS…
Korean Conglomerates Invest in the US Market
This is not the best news for the Korean startup scene. Korean conglomerates like Samsung, SK, Lotte, LG, and others have already started building plants in the United States and have started investing in US companies. This plan is to expand into the world's biggest customer market. Since Donald…
Entrepreneurs in Korea First Need to Learn How to Fail
Entrepreneurs in Korea have a larger fear of failure than those in the western world. That might be mainly because of the strict standards set by their parents. In Silicon Valley, it is expected that you fail when starting a startup. Through failure, you can learn from your mistakes. However for…
Will Bank of Korea Launch Digital Currencies in Korea?
The Bank of Joseon introduced currency notes in Korea back in 1946. 4 years later, a new central bank called the Bank of Korea replaced the Bank of Joseon. Now they play a major role in maintaining price stability in South Korea. However, recently with the rise of Bitcoin and other…
Why is the Youth Unemployment Rate in Korea so High?
The youth unemployment rate in South Korea currently stands at 10%. South Korea overall lost over 1 million jobs from the same time last year. The majority of job loss was in the service sector which has been hit especially hard during the coronavirus pandemic. Retail jobs, hotel jobs, and…
IDCITI offers an Underground GPS Solution for Smart Cities
Localization and navigation rely strongly on GPS (Global Positioning System) as it is both easy to use and accurate. However, GPS signals can be compromised by both natural and human sources. A startup in Korea called IDCITI has developed an underground GPS solution that can pinpoint a vehicle’s…
