News in Brief from South Korea: Startups, business, economy, technology – koreatechdesk


As the Lunar New Year starts and Asian countries celebrate the year of the ox, koreatechdesk.com brings you a rewind of some important business news that happened in last fortnight.

The Ministry of SMEs and Enterprises operates the ‘Hope Return Package’ to support re-starting of small businesses

 Source: Chozun Biz

In good news for small businesses, the Korean Ministry of SMEs and Startups announced on the 9th February that it will operate the ‘2021 Hope Return Package project,’ which helps small businesses recover. The Hope Return Package is a project that supports small business owners who are scheduled to close or close their business due to worsening business conditions, from business reorganization to employment and re-startup education. The Ministry of SMEs  will  provide support for store demolition costs (up to 2 million won), job information search training and job change incentives (up to 1 million won).

The program will expand the café employment and re-startup programs for small businesses in their 40s or older, and support private incubation and rental fees for eco-friendly small business owners through access to shared kitchens. A new project cost (12 billion won, up to 10 million won for 50% of the private burden) was newly established.

NCSOFT 2020 net income up 63.3% on popularity of major mobile titles

Source : The Korea Times

The Gaming company NCSOFT said its net profit soared 63.3 per cent in 2020 from a year earlier thanks to the continued popularity of its major mobile titles. It’s net profit stood at 586.6 billion won ($522 million) last year, compared with 359.3 billion won a year earlier, NCSOFT said in a regulatory filing. Operating profit came to 824.8 billion won for the year, compared with 479 billion won the previous year.

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Ncsoft game.

Annual sales rose 42 percent on-year to 2.41 trillion won. NCSOFT credited its performance to the continued popularity of its major games, such as “Lineage M,” a mobile version of its major online PC game, and demand for its new mobile game “Lineage 2M.”

 

Resume Builder AI-platform Rezi adds new feature AI Writer with GPT-3

Source: Asiatechdaily.com

Korean startup Rezi, a resume builder software platform, has added a new feature, Rezi AI Writer, which will help you write the perfect resume with the help of text generation AI and billions of data points.

Rezi

Rezi, focuses on writing resumes based on the best practices of ATS (Applicant Tracking System) used by all large global companies, utilizing AI-based features such as AI keyword targeting and AI Writer. This is a representative resume software that guides you through the format and writing method of your resume. As a job seeker, you can either import your Linkedin profile to create a resume in Rezi, use their ATS-approved resume templates to get it started or create a resume from scratch with a few clicks.

February anticipated to be blockbuster month for IPOs

Source: The Korea Herald

February this year is expected to be another busy month for the South Korean stock market as a large number of companies seek to launch initial public offerings on retail investors’ strong appetite for direct investments, according to the investment banking sources.

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Vuno announcement (Source:The Korea Herald

This month alone, 12 firms are scheduled to float their shares on the stock market or hold retail subscriptions. The IPO subscriptions of five newcomers such as semiconductor equipment manufacturer Auros Technology and medical artificial intelligence firm Vuno are set to take place after the Lunar New Year holiday.

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