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Asia's Tech News in May 2024
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Cyber attacks in Asia-Pacific in Q1 2024

May 2024: South Korea

Tech news from South Korea in May of 2024 captured headline coverage of items including: $7.3 billion government investment in developing South Korea’s semiconductor industry; Seoul-Dubai tech and startup agreements; Hyundai-Baidu collaboration on smart car technologies; Alibaba’s billion-dollar investments in South Korea, in spite of antitrust enquiry; and more.

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LG Battery Challenge 2024

LG Energy Solution: LG Battery Challenge 2024

  • South Korea: $7.3 billion support program unveiled to boost semiconductor-related facility investment and R&D / read it here
  • South Korea: An overview of the Artificial Intelligence Industry Cluster Agency, a key part of the country’s bid for global AI innovation hub status / read it here
  • South Korea: Financial Services Commission unveils comprehensive $11.36BN plan to boost support for early-stage companies / read it here
  • A brief look at the recent Korea-Japan Venture & Startup Investment Summit 2024, and the new joint venture fund in which the two governments participate / read it here
  • South Korea: Gov’t unveils $7.3BN program aimed at boosting facility investment and R&D across all semiconductor-related fields, including packaging / read it here
  • South Korea: NextRise 2024 Seoul tech and startup event is set for June, this year including Japan as inaugural ‘guest country’ with company and startup showcase / read it here
KPMG Venture Pulse Q1 2024

KPMG Venture Pulse Q1 2024

  • ICYMI: In February, Korea Int’l Trade Assoc’n inaugurates Special Committee on ROK-Japan Cooperation to boost economic and trade collaboration between the two in the private sector / read it here
  • Seoul Metro Gov’t and Dubai Future Foundation ink collaboration agreements, looking at mutual tech and startup exchange benefits / read it here
  • China’s Alibaba to invest $1.1BN in South Korea with $200M for logistics centre, $100M for SME onboarding – and $75M to address antitrust concerns / read it here
  • K-Startup Grand Challenge 2024 applications are now open, seeking tech startups looking for a base in South Korea to explore the wider SEA region / read it here
  • South Korea: Ministry of SMEs & Startups unveils strategy and initiatives to foster 3K companies, targeting exports of $1M each by 2027 / read it here
  • South Korea’s Perigee Aerospace, a small space launch vehicles startup, partners Swedish Space Corporation to expand operations in Europe / read it here
Critical technology in May 2024

Critical technologies, globally, in May 2024

  • South Korea: Seoul’s Gangnam-gu district rolls out 2 startup initiatives, one to boost entrepreneurship, the other targeting global expansion / read it here
  • South Korea’s KB Kookmin Card credit card issuer partnered by Int’l Finance Corp to boost financial access for Indonesia’s small businesses, and to lift digital inclusion in Thailand / read it here
  • South Korea’s Hyundai Motor Group inks MoU with China’s Baidu Group for collaboration in smart car connected vehicle services in China / read it here
  • South Korea: Government’s Youth StartUp Association and Korea CreataChain Ass’n ink MoU to grow blockchain-based startups, and to boost youth entrepreneurship / read it here
  • North Korea & social media: “The world has long feared he [Kim Jong Un] would strike with nuclear missiles — but his latest launch is a catchy pop song.” / read it here
Stormwall: Q1 2024 in Review - DDoS cyber attacks report

Stormwall: Q1 2024 in Review – DDoS cyber attacks report

  • South Korea’s COMEUP 2024 tech and startup conference is set for December, aiming to attract new participants, global corporations, and SMEs / read it here
  • South Korea and AUKUS grouping recently discussed the country’s possible participation in technologies-focused Pillar 2 activities / read it here
  • An overview of the issues surrounding the Line messaging app data leak, given its 50-50 ownership by Japanese and South Korean firms / read it here
  • Samsung to boost annual Vietnam investments to $1BN to increase the number of Vietnamese firms in the Samsung Electronics supply chain / read it here
  • South Korea’s K-Startup Center opens in Tokyo to help Korean firms expand via partnerships with Japanese firms, adding to KSC presence in Singapore, Vietnam, France and the US / read it here
  • Vietnam: SKC, chemicals arm of South Korean SK Group conglomerate, breaks ground on biodegradable plastics plant in Vietnam, expected to be the largest in the world / read it here
WEF Global Risks Report 2024

World Economic Forum Global Risks Report 2024

Asia’s tech news: Other editions

Our other tech news editions and formats span the range from daily to quarterly, and are available on a range of platforms so as to provide readers with the widest array of reading options.

Daily on LinkedIn

Daily on X/Twitter

Daily on Facebook

Venture Pulse Asia Q1 2024

KPMG Venture Pulse Q1 2024 – Asia findings

Weekly LinkedIn newsletter

Weekly Substack newsletter

Monthly summaries, online

Quarterly collections, online

Critical technologies in May 2024

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