super mobile banking apps
Scope
Date
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Fintech
KDB bets big on fintech platform Toss ahead of 2023 IPO
The Korea Development Bank (KDB) has decided to invest 80 billion won ($72 million) in the fintech startup Toss via a rights offering. This marks th...
Jun 04, 2021 (Gmt+09:00)
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The Deep Dive
Misandry controversy rattles Korean retailers; CEO of No.1 fashion app steps down
Gender-discrimination controversies are rattling South Korean retailers, with two companies recently accused of misandry in publicity campaigns. In...
Jun 04, 2021 (Gmt+09:00)
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Mobile networks
Samsung unveils low-end 5G phone to rival China’s cheap models
Samsung Electronics Co. on Friday launched a low-end 5G smartphone in overseas markets amid intensified price competition initiated by Chinese mobil...
Jun 04, 2021 (Gmt+09:00)
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Chief Executives
Com2uS, Gamevil Chairman Song Byung-joon: Mobile game pioneer, sports enthusiast
About eight years ago on Oct. 5, 2013, Song Byung-joon, the then-chief executive of South Korean mobile game developer Gamevil Inc., visited the off...
Jun 02, 2021 (Gmt+09:00)
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Korean startups
Shopping app Ably raises another $55 mn
South Korea-based Ably Co., operator of the fashion app Ably, announced on Jun. 2 that it has raised 62 billion won ($55.7 million) in a Series B ex...
Jun 02, 2021 (Gmt+09:00)
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Artificial intelligence
Samsung, Bayer join $90 mn investment in AI healthcare app Ada Health
Samsung Electronics Co. and Germany’s pharmaceutical giant Bayer AG have made a joint investment in the Berlin-based artificial intelligence (...
May 28, 2021 (Gmt+09:00)
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Central bank
Bank of Korea governor flags rate hike as economy improves
South Korea’s central bank governor on Thursday flagged a possible policy rate hike before the end of the year as the domestic economy recover...
May 27, 2021 (Gmt+09:00)
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Pre-IPOs
Masayoshi Son-led SoftBank to invest $2 bn in Yanolja
Vision Fund, led by billionaire SoftBank founder Masayoshi Son, has decided to invest around $2 billion in South Korea's largest travel platform Yan...
May 26, 2021 (Gmt+09:00)
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Fintech
KakaoBank’s skyrocketing valuation fuels debate on financial reform
There have been near-endless debates regarding the “proper valuation” of KakaoBank, South Korea’s largest internet-only bank that ...
May 25, 2021 (Gmt+09:00)
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Pre-IPOs
Travel app Yanolja seeks $900 mn from SoftBank pre-IPO
South Korea’s largest travel platform Yanolja is in negotiations with SoftBank Vision Fund for an investment up to 1 trillion won ($900 millio...
May 25, 2021 (Gmt+09:00)
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Travel & Leisure
Shinsegae Group unveils Josun Palace, its first super-luxury hotel
South Korea’s retail giant Shinsegae Group is strengthening its luxury hotel business with the grand opening of Josun Palace in the Gangnam ne...
May 24, 2021 (Gmt+09:00)
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Korean startups
Fintech platform Toss seeks $180 mn in fresh funding
South Korean fintech startup Toss is seeking to raise 200 billion won ($177 million) in fresh funding, which would almost treble its valuation to 8 ...
May 21, 2021 (Gmt+09:00)
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Banking & Finance
Internet-only K Bank to raise $1.05 bn in rights offering
South Korea’s first internet-only bank, K Bank, will be raising 1.2 trillion won ($1.05 billion) from existing and new investors for business ...
May 21, 2021 (Gmt+09:00)
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Korean startups
Fashion platform Ably looks to raise over $20 mn
South Korea-based Ably Corporation, the operator of fashion platform Ably, is seeking to raise around 40 billion won ($35.3 million), attracting a p...
May 20, 2021 (Gmt+09:00)
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Tech, Media & Telecom
Chat fiction app operator eyes global expansion, webtoon market
As smartphones have become essential to everyday life, chat fiction -- storytelling in the form of fictional text messaging -- has become popular am...
May 18, 2021 (Gmt+09:00)
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Digital currency
Naver joins Korean central bank's digital currency initiative
South Korea’s platform giant Naver Corp. is taking the leap into the digital currency platform market with its plans to participate in the Ban...
May 14, 2021 (Gmt+09:00)
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Korean startups
SoftBank Ventures invests in fashion app targeting middle-aged women
South Korea-based Queenit, a fashion mobile platform targeting middle-aged women, has secured around 5.5 billion won ($5 million) from a pool of hig...
May 13, 2021 (Gmt+09:00)
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Mergers & Acquisitions
Delivery app Yogiyo bidders narrowed to Shinsegae, PEFs
Germany's Delivery Hero SE has narrowed down the list of bidders for South Korea’s second-largest food delivery platform Yogiyo to Shinsegae I...
May 11, 2021 (Gmt+09:00)
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Mergers & Acquisitions
Heated shopping platform M&As shake up fashion industry
South Korea's fashion industry is all shook up following the No. 1 online fashion platform Musinsa's decision to acquire 29CM, the country’s s...
May 10, 2021 (Gmt+09:00)
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E-commerce
Delivery app Yogiyo draws bids from retailers, PEFs
South Korea’s second-largest food delivery app Yogiyo has drawn about 10 preliminary bidders, including retailer Shinsegae and private equity ...
May 05, 2021 (Gmt+09:00)
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Future mobility
Hyundai Motor pilots EV mobility service for pets
Hyundai Motor Group will pilot an urban mobility service for pets in Seoul, using a specially designed Ray EV model by Kia Corp. The group said on A...
Apr 26, 2021 (Gmt+09:00)
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Korean startups
Korea Credit Data raises over $35 mn from Pavilion, GS, KB Bank
South Korea-based fintech firm Korea Credit Data (KCD) has raised around 40 billion won ($36 million) from Singapore-based private equity firm Pavil...
Apr 20, 2021 (Gmt+09:00)
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Business & Politics
SKT strengthens foothold outside mobile biz
South Korea’s telecom and mobile network market leader SK Telecom Co., which announced last week its strategic long-term shift towards non-tel...
Apr 18, 2021 (Gmt+09:00)
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IPOs
Kakao Bank applies for preliminary review of 2021 IPO
Kakao Bank, South Korea's No.1 mobile banking app., has kicked off the process to go public by applying for a preliminary review of its stock market...
Apr 15, 2021 (Gmt+09:00)
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Corporate restructuring
SK Telecom to split into mobile and non-mobile units
South Korea’s largest mobile carrier SK Telecom Co. will split into two separate entities. SK Telecom said on Apr. 14 that it will create a ne...
Apr 14, 2021 (Gmt+09:00)
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Samsung Group
Banks keen to lend to Samsung heirs for inheritance tax
South Korean banks are queuing up to extend credit to Samsung Group's de-facto leader Jay Y. Lee and his family who are due to pay over 2 trillion w...
Apr 14, 2021 (Gmt+09:00)
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E-commerce
Live commerce app Grip aims to take over the world via shopping
There's an app where users can shop as if they're video chatting with their friends. How does this work? A seller will introduce products via livest...
Apr 14, 2021 (Gmt+09:00)
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E-commerce
Kakao to buy fashion app, pushing aside eBay Korea
Kakao Corp., South Korea's top mobile messaging app operator, is set to acquire a majority stake in Zigzag, a domestic online fashion platform targe...
Apr 08, 2021 (Gmt+09:00)
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E-commerce
Sale of Korea’s No.2 delivery app Yogiyo kicks off with May 4 prelim bid
The sale of South Korea’s second-largest food delivery app Yogiyo has kicked off with the sell-side issuing an information memorandum to poten...
Apr 07, 2021 (Gmt+09:00)
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Business & Politics
LG Elec to fold mobile phone business in 26 yrs
LG Electronics Inc. announced on Monday its exit from the loss-making mobile phone business, which has accumulated operating losses of 5 trillion wo...
Apr 05, 2021 (Gmt+09:00)
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