In terms of funding rounds, 2015 was the Korean start-up scene’s seven years of plenty. E-commerce giant Coupang and start-up acquisition machine Yello Mobile raised multibillion-dollar valuations from big-name global investors SoftBank and Formation 8, respectively, while disclosed investments across the industry are estimated to have doubled on-year, according to data by start-up news outlet Tech in Asia.But tech businesses are not immune to economic realities, where the Korean currency has wi

Technology Feb. 17, 2016

As global-bound Korean start-ups struggle to break into the fray of competition in the U.S. and China, a handful are seeking the road less traveled, but booming with potential -- to Southeast Asia.　Internet penetration from the Philippines to Indonesia has more than quadrupled in the past five years as rising incomes and rapidly developing infrastructure have allowed nearly 200 million users across the diverse region access to mobile services. 　And the popularity of Korean pop culture, from musi

Technology Jan. 20, 2016

The Korean dream, a highly competitive pursuit of the masses, is so deeply entrenched in the collective consciousness that there is hardly room for deviation: Study day and night to get great test scores, enter a top university and land a job at one of the country’s major conglomerates.　Each year, thousands of new graduates enter the chase for positions at Samsung and Hyundai, a socioeconomic sign that they’ve “made it.” Those who succeed then begin a decades-long rat race up the corporate ladde

People Jan. 15, 2016

In the early 1990s, Israel’s flagging economy struggled to take on a population influx after the fall of the Soviet Union. With few resources to help pull the country out of the economic doldrums and high unemployment, the conflict-zone country turned to a new growth engine: technology.Powered by heavy government and foreign investment, Israel has now developed into a “start-up nation” with high-tech industries fueling economic growth since 2000 by building from scratch a healthy ecosystem that

Technology Jan. 13, 2016

A Korean start-up swept headlines around the globe last year for developing a $300 braille smartwatch that it said would help solve illiteracy for the blind. Dot Inc. became one of the most hyped Korean hardware start-ups both locally and abroad, with its baby-faced CEO Eric Ju-yoon Kim, 25, speaking at events including a TEDx conference in Mumbai and Herald Corp.’s own Herald Design Forum.Yet no one has even seen the watch work. Its commercial launch, originally slated for last month, has been

Technology Jan. 6, 2016

PALO ALTO, California ― After 20-year-old Pak Se-ri triumphed as the youngest winner of the 1998 U.S. Women’s Open in her rookie year, her success, followed by 24 more tour wins, inspired a wave of young Koreans looking to follow her lead. Today, Korea dominates women’s golf, as a new generation of players including Choi Na-yeon and Park In-bee ― called “Seri Kids” by the Korean media ― have followed the World Golf Hall of Famer’s footsteps in the LPGA.Korea’s start-up industry is a lot like the

Technology Dec. 23, 2015

After losing his father to a stroke and watching two uncles give up on expensive treatment for the same thing, engineer Ban Ho-young sought to create a disruptive technology that would make rehabilitation easy and affordable for any patient.He and cofounder Choi Young launched Neofect to create a smart rehabilitation glove that helps doctors analyze patients’ progress while keeping stroke patients motivated by helping them regain their arm and hand skills through activity games. After four years

Technology Dec. 17, 2015

SAN FRANCISCO ― All it took was one phone call in 2009 for Silicon Valley investor Jai Choi to put his money on a fledgling start-up called Coupang.Its founder, Bom Kim, had just dropped out of Harvard Business School with three or four months’ worth of data in hand. He envisioned transforming e-commerce starting in his native Korea through a systematic approach to sales, operations and customer service. Judging by the sharp way Kim answered their questions, Choi recognized his unique understand

Technology Dec. 2, 2015

A group of entrepreneurs in Seoul aims to repay the sacrifices of their grandparents’ generation by raising funds and awareness for elderly Koreans in poverty.Korea is confronting a demographic crisis as it struggles to support its rapidly aging population. Nearly half of Korean over-65s are living in poverty, while data this week showed that more Koreans over 50 are delaying retirement than ever before as they bear financial responsibilities to support both their parents and children. The elder

Expat Living Dec. 2, 2015

PALO ALTO, California -- Ever since first-generation artist Kang Full’s “Love Story” became a sensation on Korean portal Daum in the early 2000s, the local webtoon industry has grown into a $290 million industry with more iconic series like “Misaeng” and “Secretly, Greatly.”But it is one of Korea’s best-kept secrets, as local webtoons -- visual stories that read from top to bottom instead of left to right for easy screen scrolling -- have struggled to spread globally for the past decade. Tapas M

Technology Nov. 26, 2015

Whenever he visits Seoul, Silicon Valley investor Eric Kim likes to watch people on the subway.Goodwater Capital cofounder and managing partner Eric Kim (Goodwater Capital)Just riding the train for hours and watching how people use their smartphones, whether they spend more time watching TV or on social networks, gives him an insight on user habits before they reach Silicon Valley.Kim, who left Texas-based Maverick Capital to found Goodwater Capital last year, has been an early-stage investor an

Technology Nov. 18, 2015

Entrepreneur Rebekah Kang has a dream that one day, technology will make politicians obsolete.“It’s really hard to communicate and hard to raise your voice. That’s why you don’t trust (politicians) and … a lot of people are not voting anymore,” she said. “If we’re not happy about what they’re doing, why do we need them?”Just as Google Nest manages a smart home, citizens will use a service to scroll through the legislation that is important to their lifestyle, such as whether they have a kid, a c

Technology Nov. 11, 2015

 Seoul-based start-up Estmob has created a file-transfer app that allows users to send files of any size for free. The makers believe the software, dubbed Send Anywhere, is so fast and convenient that it could rival current market champions Dropbox and Google Drive in file sharing.But how is a little Korean start-up going to take on the Silicon Valley giants?“Our biggest asset might be our users. They kind of love our product and they show their passion, and they always say wow,” Estmob chief st

Industry Nov. 4, 2015

SAN FRANCISCO ― Half a century after The Kim Sisters singing trio took the U.S. music scene by storm, three sisters from Korea are aiming to make their mark among San Francisco’s start-ups. From left: Dawoon, Arum and Soo Kang, cofounders of Coffee Meets Bagel. (Coffee Meets Bagel)The Kang sisters, who moved alone to the U.S. as teenagers, have been picking themselves up by their bootstraps their whole lives. And their experiences taught them the resilience and devotion that have helped them fos

Technology Oct. 28, 2015

　Korean start-up Shakr, a video-making platform for small businesses, has taken its next step in global expansion with an exclusive partnership with Yahoo Japan.　 　The strategic content deal allows Japanese small business owners to create their own video ads through the portal, the country’s most visited website, on the new platform Yahoo Japan Video Creator, which is powered by Shakr and launched last month.Shakr CEO David Lee poses ahead of an interview with The Korea Herald at the company`s o

Technology Oct. 14, 2015

VIP Plaza CEO Tesong Kim (left) speaks about doing business in Southeast Asia at Tech in Asia Tokyo 2015 in Shibuya, Tokyo, last week. (Tech in Asia)TOKYO ― In a region where masses of users are newly armed with smartphones and more spending power, Southeast Asia is a new gold mine for tech enterprises.China’s quickly saturating market for all things tech has pushed Asia-bound start-ups to seek new territory, and global companies like Rakuten, eBay and Rocket Internet are vying over Southeast As

Technology Sept. 16, 2015

A new networking group for entrepreneurs in Seoul called Over Lunch is kicking off its app with a launch party Thursday.Over Lunch, created by local expats Hana Sakuragi and Nathan Hendrix, aims to help English-speaking professionals, from expats to locals and people traveling to Seoul on business, make meaningful connections over lunch. It is both an online and offline community for like-minded people to meet new people and enrich their lives, the founders said.Over Lunch cofounders Nathan Hend

Expat Living Sept. 16, 2015

Of over 200 registered Korean victims of sexual slavery by Japan, just 47 are alive today. One social venture wants to help their stories live on through the trees in a memorial forest in western Seoul.On an 800-square-meter site at the World Cup Peace Park, the Forest for Victims of Military Sexual Slavery by Japan is filled with Siberian apricot trees, bellflowers, Korean starworts and other colorful blossom trees, surrounding benches where people can take the time to sit and contemplate the l

Social Affairs Sept. 2, 2015