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Catius is an innovative edtech startup that specializes in developing AI chatbot solutions tailored for children aged 2-5, known as 'Cati'. The company has successfully attracted investment from Singapore's Farquhar VC (FVC), with the amount of the investment remaining undisclosed. Earlier this year, Catius garnered pre-A funding from notable investors including Smilegate Investment, STIC Ventures, and the KOSMES (Korea SMEs and Startups Agency). Founded in 2020, Catius utilizes advanced AI technology to recognize the unique speech patterns of young learners. Cati not only engages children with personalized dialogues but also plays fairy tales and songs, offering an interactive discussion feature that enhances storytelling. Catius gained international acclaim at CES 2023, where it won an innovation award, highlighting its technological prowess and market potential. FVC, established in 2020, focuses on cross-border early-stage investments and aims to support startups from ideation to IPO. This investment marks FVC's second foray into the Korean startup ecosystem, following its investment in SicPama. Jason Su, FVC Partner and Chief Investment Officer, emphasized their commitment to aiding Korean startups in global expansion through financial backing and acceleration programs. He highlighted the success of FVC's international portfolio companies, including Tictag, MyFirst and Spark Systems, in establishing their businesses in Korea, thanks to collaborations with institutions such as HYU Holdings, IRIS Lab, Twin Ventures, GIPA and Infobank. Looking ahead, FVC plans to continue its investment strategy through the Green Future Fund, targeting high-growth Korean startups to foster innovation and expansion in the global market. Source: Platum #Edtech #CrossBorderInvestment #EarlyStageStartups #AIChatbot #KStartup #GlobalExpansion #VentureCollaboration #VentureCapital

Announced at SEMICON Taiwan 2024, Samsung Electronics is teaming up with Taiwan's TSMC, a leading competitor in the semiconductor foundry business, to jointly develop high-bandwidth memory (HBM) technology and services. This strategic partnership aims to accelerate the development of HBM4, the sixth generation of HBM technology, which is slated for mass production in the second half of 2025. By combining Samsung's expertise in memory manufacturing with TSMC's foundry capabilities, the two companies seek to create a more comprehensive and flexible HBM solution. This collaboration will enable them to meet the growing demand for high-performance memory, particularly from large customers like NVIDIA and Google. Key Highlights: * Joint HBM4 Development: Samsung and TSMC will collaborate on developing buffer-less HBM4, a technology that promises to improve power efficiency by 40% and reduce latency by 10%. * Custom HBM Solutions: The partnership will focus on creating custom HBM solutions tailored to specific customer needs, addressing the limitations of existing memory processes. * Turnkey Solutions: Samsung aims to offer a turnkey solution, encompassing DRAM production, logic die manufacturing, and advanced packaging, to provide a comprehensive HBM offering. * Foundry Diversification: Samsung's collaboration with TSMC is part of its strategy to diversify its foundry partners and ensure a reliable supply chain. This partnership marks a significant step forward for both Samsung and TSMC in the HBM market. By leveraging their combined strengths, the two companies hope to solidify their leadership positions and meet the increasing demand for high-performance memory solutions. Source: The Korea Economic Daily #HBM4 #Semiconductors #Chips #TechPartnership #MemoryTechnology #Foundry #SamsungTSMC #MemorySolution

VUS, a leading waste collection and transportation solutions provider, has announced the successful acquisition of ₩2.8 billion ($2.1 million) in pre-Series A funding, bringing its total investment to ₩3.25 billion ($2.4 million) This round was spearheaded by Daekyo Investment, with new contributions from Korea Investment Partners and the Korea Credit Guarantee Fund. Existing investor Korea Investment Accelerator also participated once again following its initial seed investment. Founded in 2021, VUS has developed "Mango," an innovative solution designed to optimize routing and vehicle management while integrating operational systems for waste management. Recently, VUS partnered with Ecorbit, South Korea's top waste treatment company, which was acquired for ₩2.7 trillion ($2 billion), to create a medical waste collection and transportation solution. Currently, VUS is gearing up for the commercialization of Mango with mid-sized companies, while also exploring opportunities for overseas expansion with major domestic waste treatment firms. The fresh capital will be directed towards accelerating the expansion and technological enhancement of the Mango platform. VUS CEO Hwang Yoon-ik emphasized the immense potential of the domestic waste industry, stating, "We are transitioning from a traditional downstream structure to an IT-driven upstream model focusing on recycling and reuse." He further noted the critical importance of data acquisition in the waste collection sector, asserting that integrating a data-driven management system across all stages—from generation to treatment—is key to future growth. Kim Beom-jun from Daekyo Investment expressed confidence in VUS’s capabilities, anticipating its continued growth as a representative solution provider in the waste industry. Source: Money Today #WasteManagement #Funding #Innovation #Environment #TechInWaste #EcoFriendly #InvestmentOpportunity

Casino-related stocks are experiencing a notable resurgence, driven by recent regulatory changes and increasing sales figures. On September 5, Kangwon Land closed at ₩17,730, marking a 7.85% increase from the previous day. During trading, the stock peaked at ₩18,610, setting a new 52-week high. As the only casino in South Korea accessible to domestic visitors, Kangwon Land has faced significant challenges due to a decline in local patronage favoring foreign casinos. A key catalyst for this rebound was the Ministry of Culture, Sports and Tourism's announcement granting approval to expand the casino's area by 5,748 square meters and increase the number of gaming devices by 300. This regulatory easing allows for a substantial increase in betting limits within foreigner-only gaming zones, from ₩300,000 to ₩300 million ($225 to $224,961), raising expectations for improved financial performance. Investor optimism extends beyond Kangwon Land. Grand Korea Leisure (GKL), which operates foreigner-only casinos, also saw a positive response, closing at ₩12,070, up 4.41%. After hitting a 52-week low of ₩10,650 last month, GKL has rebounded significantly, reporting ₩41.3 billion ($31 million) in revenue from its three Seven Luck foreigner-only casino locations in August, more than doubling from the previous month. Lotte Tour Development joined the upward trend, rising 1.60% to close at ₩9,520. This stock had previously dipped to a 52-week low of ₩8,090, but has since recovered, achieving over ₩30 billion ($22 million) in net sales for the first time since its opening. As regulatory changes reshape the landscape, investor confidence in the casino sector is on the rise. Source: Maeil Business Newspaper #CasinoStocks #KangwonLand #StockNews #MarketUpdate #FinancialNews #RegulatoryChange #KoreaEconomy

Last month, South Korea's consumer price inflation rate fell to 2.0%, the lowest level in 3 years and 5 months. This significant drop is attributed to a decrease in international oil prices and stabilization in agricultural costs. Since May 2022, when inflation peaked at 5.3%, the rate has now reached the government's target after over two years. According to Statistics Korea, the consumer price index stood at 114.54 (2020=100), marking a 2.0% increase compared to the previous year. In July, inflation had risen to 2.6%, but August saw a return to the 2.0% target. Meanwhile, the core inflation rate, excluding food and energy, decreased to 2.1% from 2.2% the previous month. The living price index, which focuses on essential items, rose by 2.1% year-on-year, while the fresh food index increased by 3.2%, down from 7.7% the previous month. The Ministry of Economy and Finance predicts that inflation will stabilize in the low 2% range, barring any unexpected shocks. An official commented on Korea’s relatively rapid achievement of the 2% target compared to other OECD countries, indicating that the government might consider revising its annual inflation target of 2.6% downward. Bank of Korea Governor Lee Chang-yong stated that it is now a suitable time to contemplate lowering the base interest rate. However, there are concerns about previously missed opportunities for cuts, as the Bank has kept rates unchanged for 13 consecutive meetings. Market analysts predict a potential rate cut in the upcoming monetary policy meeting, responding to growing calls for measures to stimulate domestic demand amid a sluggish economic recovery. As the economy seeks recovery, the government views interest rate adjustments as a crucial tool for revitalization. Source: The Korea Economic Daily #Economy #Inflation #SouthKoreaEconomy #BankofKorea #MonetaryPolicy #EconomicStability #InterestRates #MarketTrends

SBVA, led by CEO Lee Jun-pyo, has announced its leadership in the pre-IPO funding round for Baropharm, a comprehensive pharmacy management platform. This round attracted new investor KDB Capital, alongside existing backers Mirae Asset Capital, Mirae Asset Venture Investment, and Company K Partners, totaling an impressive ₩15 billion ($11 million) in investments. Baropharm's cumulative funding has now reached ₩35 billion ($26 million) as it prepares for its IPO, having appointed Mirae Asset Securities as its lead manager in March. Founded in July 2021 by practicing pharmacists Kim Seul-ki and Shin Kyung-do, Baropharm has rapidly grown, now serving over 20,000 pharmacies—80% of the national market—and achieving a cumulative order volume of ₩3 trillion. The platform enhances pharmacy operations by providing integrated pharmaceutical ordering, restocking alerts for out-of-stock items, returns management, and community features, significantly improving customer convenience. Jung Ji-woo, Executive Director of SBVA, remarked, "Since its inception, Baropharm has swiftly attracted customers and proven the competitiveness of its pharmaceutical ordering platform through remarkable growth. We look forward to future expansions into health management commerce and a range of B2B services leveraging data." Kim Seul-ki emphasized that this investment marks a pivotal step in accelerating Baropharm's growth and building a robust ecosystem as a pharmaceutical platform through innovative solutions. Source: ZDNET #PharmacyManagement #PreIPO #StartupInvestment #HealthcareInnovation #KoreanStartups #KoreaBusiness

POSCO Group has announced a strategic partnership with Australian mining company Black Rock Mining to develop the Mahenge graphite mine in Tanzania, marking a vital step in diversifying its graphite supply sources that have been heavily dependent on China. This agreement involves a $40 million equity investment, granting POSCO International a 19.9% stake in the mine, which is recognized for possessing the second-largest natural graphite reserves globally, estimated at 6 million tons. This collaboration aims to secure an annual supply of 60,000 tons of graphite by 2028. Initially, POSCO International participated in the mine's first phase, securing 30,000 tons annually for 25 years, totaling 750,000 tons. The new investment establishes a long-term "investment alliance" with Black Rock Mining, paving the way for further development phases. The Mahenge project is part of POSCO's broader strategy to reduce reliance on Chinese graphite, particularly as the U.S. plans to eliminate subsidies for batteries containing Chinese materials under the Inflation Reduction Act (IRA) starting in 2027. POSCO aims to cut its dependence on China to near zero and anticipates a demand for about 150,000 tons of graphite for battery anodes by 2027. Chairman Jang In-hwa highlighted the company's dedication to boosting the global competitiveness of South Korea's key industries, particularly in battery materials, while also strengthening national security through effective supply chain management. POSCO's proactive strategy in Africa reflects its ambition to harness the continent's abundant resource potential. The company plans to actively engage in the development of natural graphite across Africa, specifically targeting nations like Mozambique and Madagascar. Source: The Korea Economic Daily #POSCO #Graphite #Sustainability #Mining #Investment #Tanzania #BatteryMaterials #SupplyChain #GreenEnergy

Recent analysis highlights that foreign workers in South Korea may have surpassed their Korean counterparts in actual wages, primarily due to separately provided accommodation and meal allowances. Industry insiders explain that while domestic workers have these allowances included in their minimum wage, foreign workers receive them separately, impacting overall compensation. According to the Korea Federation of Small and Medium Business, the average monthly labor cost for E-9 (Employment Permit System) foreign workers was ₩2.647 million ($1,984.91) last year, about ₩200,000 ($150) lower than the average wage for domestic workers at ₩2.86 million ($2,144.63) in 2022. However, when factoring in additional allowances of around ₩500,000 ($375) for accommodation and meals, foreign workers' total compensation can exceed that of Koreans. Employers are not legally required to provide separate allowances, leading to a reliance on these payments to attract foreign talent, especially amid ongoing labor shortages. A small business owner noted that without these additional payments, foreign workers often refuse job offers. From an HR perspective, concerns arise regarding the productivity of foreign workers. Some companies report that foreign employees are aware of the overtime pay structures, which can be 1.5 to 2 times the regular rate. This awareness has led to instances where foreign workers may prioritize overtime at the expense of regular job performance, resulting in excessive overtime and creating productivity challenges. Furthermore, a significant portion of foreign workers—67.7%—believes their wages are comparable to those of Koreans, while only 16.2% feel they earn slightly less. In the part-time sector, 93.3% of employers reported paying foreign workers the same hourly rates as their Korean counterparts. As the labor market continues to evolve, the disparity in compensation practices highlights ongoing challenges in ensuring fair employment standards for all workers in South Korea. Source: The Korea Economic Daily #ForeignWorkers #WageDisparity #LaborMarket #SouthKorea #Employment #HRChallenges #MinimumWage #ProductivityIssues

Eco-friendly marine mobility solutions company VINSSEN has successfully raised ₩20 billion ($15 million) in investments during its Series C funding round, which commenced last December. Following an initial investment from GS Ventures, a corporate venture capital firm under the GS Group, VINSSEN welcomed Kyobo Securities as a new investor. In addition, the company secured an additional ₩3.5 billion ($2.6 million). VINSSEN aims to leverage this funding to expand facilities and enhance R&D for its hydrogen fuel cell technology in marine applications. Founded in 2017 at the Jeonnam Technopark, VINSSEN established a 4,300㎡ factory in the Daebul National Industrial Complex in 2021. The company focuses on developing fuel cell systems and eco-friendly propulsion systems for vessels. Notably, VINSSEN's marine battery systems have received type approval from the Korea Maritime Transportation Safety Authority (KOMSA) and the Korean Register (KR), affirming their technological excellence. VINSSEN's innovations have seen commercial success, with the 'Garden Dream,' Korea's first fully electric passenger ship, was delivered for the 2023 Suncheonman International Garden Expo, operating effectively with stable performance and passing KOMSA's safety inspection this year. Additionally, VINSSEN has successfully collaborated with global energy companies in Singapore to implement hydrogen fuel cell systems in ships as part of the Hydrogen as Marine Fuel Project. VINSSEN will participate in Gastech 2024 from September 17-20 in Houston, US, promoting its transition from fossil fuels to zero-carbon marine propulsion systems. The company will also analyze energy export and import trends and competitiveness among countries to explore new market entry strategies and opportunities, while seeking partnerships through business networking with global companies. Looking ahead, VINSSEN plans to pursue IPO procedures by 2026, solidifying its position as a leader in the eco-friendly marine mobility sector. Source: Energy Economic News, VINSSEN #ElectricVessel #GreenTechnology #SustainableShipping #HydrogenFuel #MarineInnovation #EcoFriendly

Akio Toyoda, chairman of Japan's Toyota Group, is set to visit South Korea from October 24-26, marking his first visit in 12 years. During this trip, he will meet with Hyundai Motor Group Chairman Chung Eui-sun. This convergence of two industry giants could prove to be a catalyst for significant advancements in the global hydrogen ecosystem. The two industry giants share a common interest in hydrogen vehicles, with Hyundai committing ₩11.1 trillion ($8.3 billion) to hydrogen development by 2030. Hyundai's CEO, Chang Jae-hoon, recently became chair of the Hydrogen Council, emphasizing their commitment to this sector. Meanwhile, Toyota has formed a "hydrogen alliance" with BMW, showcasing its growing interest. Industry experts anticipate that the meeting will explore avenues for collaboration. Potential areas of cooperation include joint research and development, infrastructure development, and supply chain integration. By pooling their resources and expertise, these companies could accelerate the development and deployment of hydrogen fuel cell vehicles and associated technologies. A strategic alliance between Toyota and Hyundai could have far-reaching implications for the hydrogen industry. By combining their market influence, technological capabilities, and global reach, they could drive down costs, enhance consumer acceptance, and foster a more robust hydrogen infrastructure. Despite a 34.1% decrease in global hydrogen vehicle sales this year, both companies remain committed to this market. Their collaboration is likely to focus on developing infrastructure, aided by a recent Korea-Japan agreement on hydrogen supply chains. Toyota projects that 70% of the market will consist of hybrids and hydrogen vehicles, while Hyundai emphasizes the importance of transitioning to hydrogen energy for future generations in CES 2024 . This landmark meeting is expected to shape the future of the automotive industry significantly. Source: The Korea Economic Daily #HydrogenEcosystem #FutureMobility #Sustainability #AutomotiveIndustry #CleanEnergy #GreenTech #GlobalAutomotive #HydrogenFuelCell