[Korean Startup Weekly News #55] Naver Achieves Record Sales, First Korean Internet Company to Hit 10 Trillion KRW Milestone

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Catch up on last week’s top stories from the startup ecosystem in the Korean Startup Weekly News.

Headline

Naver Achieves Record Sales, First Korean Internet Company to Hit 10 Trillion KRW Milestone Achieving an industry-first, NHN集团 's annual sales exceed 10 trillion KRW, reflecting its dominance in Korea's internet sector and strong year-over-year growth.

Korean Government News

New 'AI Core Fields' Project Unveiled to Boost High-Growth AI Startups in Korea South Korea's MSS has launched an AI startup development project, aiming to create new markets by nurturing startups in AI core fields.

Latest Funding News

Check out the latest funding news for Korean startups

CINEV Developer Cinamon Raises $8.2M to Transform AI Video Production Cinamon raised $8.2M to expand CINEV, its AI-driven 3D video solution. The funding, led by Altos Ventures and Saehan Venture Capital, will support global expansion and service launch.?

Korea’s Selta Square Raises KRW 9.2 Billion to Enhance Full-Cycle Drug Monitoring with AI SELTA SQUARE ????? , a Korean AI drug monitoring firm, raised $6.8M in Series A funding. Plans global expansion, AI-driven solutions for pharma, and digital transformation in drug monitoring.

Macovill Secures Series A2 Investment for Cross-Media Content IP Development Korean startup ??? (Macovill) secured a $3.4 million Series A2 investment led by HYBE IM and Laguna Investment. This investment will fuel their position as a comprehensive media IP company.?

Athler Secures $3M Series A Funding to Revolutionize Middle-aged Men’s Fashion in Korea Athler, a fashion platform for middle-aged men, has raised $3.08M in Series A to enhance shopping experience and expand product lines.?

Class101 Secures $2.6M Investment to Expand Creator Content Platform CLASS101 secured $2.6M from Strong Ventures to enhance its creator platform, focusing on Creator Home services, content expansion, and corporate subscriptions. The platform aims to support global creators and strengthen its market position.?

StudioLab Secures $2.5 Million in Pre-Series A Funding for AI-Powered E-Commerce Solution StudioLab raised $2.5 million to expand its AI-powered e-commerce solution, GENCY, which generates optimized product pages in seconds. StudioLab plans to grow globally and diversify into sectors like jewelry.?

Furiosa AI Secures $1.5M to Expand AI Chip Development and Global Market Reach FuriosaAI secured a $1.5 million investment from CRIT Ventures to enhance its AI semiconductor technology, expand global market reach, and compete with top players in the AI chip industry.?

Outcode by Powertask Raises Pre-Series A to Drive Business Automation Growth Powertask secured a Pre-Series A investment led by Strong Ventures. Its platform, Outcode, streamlines business automation. The company plans to enhance AI-driven workflow automation with this funding.?

AI Patent Startup WAND Gains Springcamp Investment and TIPS Selection WAND, a South Korean AI-powered patent search startup, secured seed funding from Springcamp and was selected for TIPS. CEO Sangho Han aims to revolutionize patent work with AI-driven solutions.

AI Tax Agent Developer Solomon Labs Secures Seed Investment from BASS Ventures New York-based Solomon Labs secured seed funding from BASS Ventures . Led by graduates from top universities with big tech experience, the company offers AI agents for tax research and filing optimization.

ABR Secures Seed Funding to Enhance Eco-Friendly Battery Recycling ABR, an innovative Korean battery recycling firm, receives seed investment to advance its eco-friendly technology and plans a 200-ton facility.

Bridgeworks Secures Seed Funding to Expand Cashmore, Its Offline Cashback App Bridgeworks secured seed funding to expand Cashmore, its offline store cashback app, enhancing service, growing store partnerships, and targeting broader retail sectors by 2026.?

Pickle, AI Lip-Syncing Pioneer, Joins Y Combinator and Secures NFX Funding After joining Y Combinator , Pickle (YC W25) raised crucial pre-seed funds from NFX to expand innovative AI tech.?

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] SpeedFloor, ‘Transforming Logistics Operation with Smart Conveyor Technology’ Startup SpeedFloor automates loading/unloading with AI-driven optimization, cutting costs and inefficiencies for SMEs. Their dual business model and innovative solutions drive global expansion and industry innovation.

[Korean Startup Interview] Crest: Revolutionizing Battery Systems with Intelligent BMS Technology Crest is a Korean secondary battery system manufacturing company that has successfully developed an intelligent battery management system. With these achievements, Crest is now seeking investment.

[Korean Startup Interview] Fighting Counterfeits: QUAZAR’s Data-Driven Authentication Tech As counterfeit concerns grow, demand for luxury authentication rises. QUAZAR uses vision AI and extensive data to verify authenticity, enhancing credibility, driving revenue growth, and attracting investor interest.

Others

Kakao and OpenAI Form Strategic Partnership to Advance AI Services Kakao Corp and OpenAI announced a strategic partnership to enhance AI services, integrating OpenAI’s technology into Kakao’s platforms and co-developing products. The collaboration aims to popularize AI services and deliver innovative user experiences.

SEC Prepares for KOSDAQ IPO, Strengthening Global Reach in Inspection Equipment SEC, a South Korean electron beam-based inspection equipment specialist, passed the KOSDAQ review and plans an IPO to expand semiconductor, battery, and defense X-ray inspection technology globally.