Korean startups, investors, and companies look forward to one of the leading startup events of 2021 – Next Rise 2021. As per “Global Wealth Report 2021”, Korea gets more millionaires as local stock index KOSPI gets the new high record. The unicorn startup Viva Republica on a shopping spree as it invests in the e-commerce platform ‘Six Shop.’
About 110 companies, 40 investors, and 600 startups will meet in Seoul. ‘Next Rise 2021, Seoul’ opens on June 28th. NextRise 2021, Seoul, co-hosted by the Korea International Trade Association and KDB Development Bank, will be held at COEX in Samseong-dong. ‘NextRise’, which started in 2019 and celebrated its 3rd anniversary this year, is home to domestic and foreign startups and companies. It was created to connect investors and seek cooperation. It can be seen as the largest startup event in Korea.
This year, more than 110 companies including Disney Pax, Coca-Cola, Hyundai Motor, Naver, and LS Group, 40 investment companies such as Goldman Sachs, Zhongguancun Innoway, KB Invest, and Kakao Ventures, and 600 startups will participate in the event.
In this event, startup fairs and recruitment briefing sessions are actively held for two days at about 270 booths. There are also business meetings and 108 conferences between domestic and foreign companies, investors, and startups.
Source: The Korea Herald
Despite the economic fallout of COVID-19, the number of South Korean millionaires sharply increased, largely due to an overheating phenomenon in asset markets following the government’s pandemic-era stimulus measures, a report showed on June 23.
According to the “Global Wealth Report 2021,” released by Swiss banking giant Credit Suisse, the number of people with financial assets worth more than $1 million, or nearly 1.1 billion won, rose by 140,000 on-year to 1.05 million in 2020, which accounts for 2 percent of the worldwide total. Last year, nearly 5.2 million people around the world became millionaires, raising the total to 56.1 million. They made up 1 percent of the world’s adult population for the first time, the report said.
The KOSPI broke 3,300 for the first time on Friday, climbing 16.74 points, or 0.51 percent, to close at 3,302.84. The record close was the second this week, coming just one day after the KOSPI last set a new record at 3,286.1 on Thursday.
This year has been a good year for the Korean stock market, which started the year by breaking the 3,000 threshold for the first time just seven days into 2021. Since then, a new all-time high has been set 14 times.
— KoreaTechToday (@Koreatechtoday) June 24, 2021
Viva Republica’s 8 billion won investment in e-commerce solution ‘Six Shop’
‘Six Shop’, which provides an all-in-one e-commerce platform for novice entrepreneurs, has attracted an investment of 8 billion won from Viva Republica, the operator of ‘Toss’.
After introducing a shopping mall service that can be created with simple drag and drop among existing shopping mall services that require expensive outsourcing or complex coding. Six Shop has attracted more than 13,000 brands so far, and based on this, it has attracted 200 billion won as of last year.