Kate Park

The Latest from Kate Park

6 investors explain why they are bullish about Japan’s startup scene despite an uncertain economy

Thinking of Japan often evokes notions of bleeding-edge tech mixed with deep tradition and culture. The country’s startups, however, haven’t seen the sort of growth that upstart tech companies in

Profitability over growth: 5 investors explain their mantra for South Korean startups

Five investors talk about the uniqueness of South Korean startups, how they've fared in a post-pandemic world and their investment thesis.

Montenegro court overturns Terraform founder Do Kwon’s bail 

A high court in Montenegro overrode a lower court’s previous decision that would have released Terraform Labs founder Do Kwon on bail. Bloomberg first reported on the news. Kwon will remain in j

Sequoia India’s Surge backs AI-powered video creation platform Gan.ai in $5.2M funding

As many as 91% of consumers want to see more videos from brands, according to a recent survey by the startup Wyzowl, which says it surveyed more than 500 respondents. Google meanwhile reported in 201

Micron to invest $3.6B in Japan for next-gen memory chips

Micron Technology said it will invest up to 500 billion yen ($3.6 billion) in Japan for the next few years with support from the Japanese government to up its game in next-generation memory chips. 

Japanese construction tech Aldagram nails down backing from Panasonic

Aldagram, a startup out of Japan developing project management software for construction companies, has picked up a new strategic backer to help it build out its footprint across Asia and the Middle E

Terraform’s Do Kwon pleads not guilty to fake travel documents charges

Terraform Labs co-founder Do Kwon pleaded not guilty in a Montenegrin court on Thursday to a charge of forging his passport and travel documents. Kwon’s hearing comes a month after Kwon and Chan

Samsung bans use of generative AI tools like ChatGPT after April internal data leak

A month after internal, sensitive data from Samsung was accidentally leaked to ChatGPT, Samsung is cracking down on usage of the generative AI service. The electronics giant is temporarily restricting

Korean fintech Kakao Pay to acquire majority stake in US brokerage firm Siebert

Kakao Pay, the online payment service of South Korean messaging and internet giant Kakao, announced that it has acquired a stake in Siebert Financial, a brokerage firm based in New York. Kakao spent $

Luup raises $30M ahead of Japan’s new micromobility rules

Japanese shared micromobility startup Luup has raised $30 million (4.5 billion yen) in a Series D financing round, which consists of 3.8 billion yen in equity and 700 million yen in debt. Luup has now

Netflix earmarks $2.5B for original content in South Korea

After the stunning success of “Squid Game” in 2021, Netflix is doubling down on South Korea in hopes of another home run out of the country’s entertainment industry. The U.S. streami

AI-powered retina scanning startup Mediwhale raises $9M

Mediwhale co-founder and CEO Kevin Choi discovered that he had lost vision in nearly half of one of his eyes from glaucoma when he was 24, which is rare in young people. “I was devastated and co

As tech slumps, SoftBank sells VC unit to Singapore-based firm led by Masayoshi Son’s brother

SoftBank is selling one of its venture capital arms, South Korea-based SoftBank Ventures Asia (SBVA), to The Edgeof, a Singaporean investment firm, according to the two companies.   The deal’s

South Korea fines Google $32M for blocking developers from releasing games on rival’s platform  

South Korea’s Fair Trade Commission (KFTC) has fined Alphabet’s Google 42.1 billion won (~ $32 million) for blocking developers from releasing mobile video games on a Korean competitor platform ca

Samsung cuts memory chip production as it hits worst quarterly profit since 2009 

Samsung Electronics plans to cut back memory chip production as its operating profit in the first quarter of 2023 is expected to plummet about 96% from the previous year. This will be the lowest profi

Blockchain builder Ava Labs partners with Korea’s SK Planet to expand Asia footprint

Ava Labs, a company that launched the layer-1 blockchain Avalanche, has partnered with SK Planet, a data management and marketing platform unit of South Korean company SK Square. SK Planet will launch

China probes Micron for cybersecurity risks, urges Japan to stay out of US chip export curbs 

The U.S. and China chip battle continues to escalate. In China, the country’s cybersecurity watchdog has initiated a probe into U.S. memory chip maker Micron Technology, according to a statement

Green Labs secures $38.4M in debt financing about a month after conducting layoff

Green Labs, a Seoul-based agritech startup, has secured $38.4 million (50 billion won) in debt financing from existing investors BRV Capital Management and Skylake Incuvest. The new funding comes j

Neubility plans to roll out 400 lidar-free delivery and security robots by year-end

Last-mile robotics startup Neubility — which makes autonomous delivery robots that work without lidar — says that it plans bump its fleet up to 400  by the end of this year, up from the 5

US, South Korea both seek Do Kwon’s extradition to face charges

A spokesperson for South Korean prosecutors told TechCrunch that they are discussing Kwon's extradition with "related parties."
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