South Korea strengthens its economic ties with the US as President Moon Jae-in meets the US president Joe Biden in Washington DC. Both countries make promises to invest in various businesses and share joint goals. Blockchain startup Firmachain updates its features for more developers to experience blockchain technology and Samsung announces support for four startups, part of its C-Lab (Creative Lab) in-house program. Mobility startup BeMyCar distributes business as part of strategy to attain ‘unicorn’ status faster.
Biden Announces Investment in Korean Companies, “Thank You, Thank You, Thank You”
Source: Seoul Economic Daily
I was honored to host H.E. Moon Jae-in, President of the Republic of Korea. The alliance between our two nations is stronger than ever and the linchpin of peace, security, and prosperity for Northeast Asia, the Indo-Pacific, and the world. pic.twitter.com/J7fdqgoQQn
— President Biden (@POTUS) May 22, 2021
US President Joe Biden announced the results of the first summit meeting with President Moon Jae-in on May 21st (local time). President Biden said “Thank you” several times, referring to Korean companies’ investment plans in the United States.
Prior to the press conference, President Biden gave an applause for revealing the investment plans of Korean companies while explaining the results of the meeting.
Earlier in the morning, at the Korea-US business roundtable event, domestic companies such as Samsung Electronics and Hyundai Motors announced a total investment amount of $ 39.4 billion (about 44 trillion won).
FirmaChain releases ‘Library and Wallet’ update
Source: Firmachain
Firmachain, leading Korean developer of blockchain-based electronic contract platform DONUE, announced recently that it has updated its open source library and wallet. FirmaChain has updated the JavaScript based SDK on the open source sharing platform npm. Outside developers can now test FirmaChain’s blockchain network functions through the SDK (Software Development Kit) and can even apply them to other services.
The updates can be checked at ‘@firmachain/firma-js’ within the npm platform. Currently the platform only provides the integration on its testnet although once the updates become stable it will be available on its mainnet as well.
With the addition of the NFT function the testnet the network updated wallet can be downloaded from the FirmaChain website. Also, the addition of the NFT function allows users and developers to experience blockchain technology that is one step closer to mass adoptions.
FirmaChain seeks to replace all written contracts governing social and legal issues by using an electronic contract platform based on FirmaChain’s data blockchain.
Samsung’s C-Lab Program Showcases Four Innovative Spinoff Startups
Source : KoreaTechToday
Samsung Electronics Co. announced that it would back up new startups that have spun off its C-Lab (Creative Lab) in-house program. In 2012, Samsung launched the C-Lab program to foster participants and their original ideas while integrating a creativity-centric corporate culture. Starting from 2015, C-Lab has promoted projects that show solid market potential. Since this program’s launch, Samsung has facilitated numerous startups’ growth in all business areas
At present, Samsung plans to support multiple new startups that have spun off from the C-Lab venture program. In particular, the C-Lab spinoff project would provide startups necessary assistance, including ample funding and all-inclusive consulting. The C-Lab program would also offer a five-year window. During this period, the startups’ employees could go back to their previous jobs if their ventures fail to take off.
Samsung’s C-Lab Program Showcases Four Innovative Spinoff Startups https://t.co/nJGPoOOQNn #KoreanConglomerate #OpenInnovation #KoreaStartup #KoreaTechToday
— KoreaTechToday (@Koreatechtoday) May 21, 2021
Pre-Unicorn BeMyCar ‘speed’ to the growth of unicorn company
Source: Financial News
The smart mobility platform, BeMyCar, is dividing the company to grow into a unicorn company. The division’s missions are IMS Mobility and BMC Mobility. BeMyCar announced on the May 20 that it will split the company to operate the two major business headquarters, such as IMS Mobility and BMC Mobility, for sustainable growth, as a result of its selection as a preliminary unicorn company last year by the Ministry of Small and Medium Ventures.
The IMS business provides vehicles in real-time optimal conditions based on IMS, a vehicle clouding platform, to operators who want to conduct various on-demand mobility projects using vehicles. It is to supply software and hardware so that it can be done.
BMC Mobility provides services related to vehicle rental such as VIP protocol and test drive/vehicle parking based on the general/accident loan business based on 21 branches nationwide. In addition, as an official broker with BMB Financial, it provides vehicle finance that meets the diverse needs of corporate and individual customers.
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