Top Up and Coming Startup Companies From South Korea to Watch, Part 02
South Korea’s tragic past is cloaked with fear and not one individual would have the guts to go back to that path. The country’s well-known rag to riches story has been a venerated tale which continues to inspire other Asian nations. But thanks to the brilliant thinkers, innovators, and entrepreneurs of this East Asian territory, the country managed to avoid repeating history. With so many prominent CEOs in the country, South Korea is back on its feet and and it sure is ready to announce with pride the string of successes of startups within its borders.
Despite other businesses in which GDPs are facing detrimental issues and possibilities of being forced into bankruptcy, some companies have proven that stars shine the brightest in pitch black night. In a recent article, we featured five South Korean successful businesses which included the likes of a mobile application developer, entertainment provider, and even cosmetic brands. We continue our exploration of South Korea's flourishing industry by showcasing five more of the country’s successful startups that have treated the South Korean economy with extreme delight.
Withinnovation
Traveling alone or with peers can be pretty fascinating when you know what places or tourist spots you will be visiting. Places filled with abundant history and beaches scented with sun-kissed skin and salty air are two things out of so many delightful elements that make tourists want to visit a particular region of a country. Although the prospect of travel sounds exciting, booking tickets and looking for promotions may take some time which could delay some personal engagements. If you’re looking for an application that keeps you updated with travel promotions packaged with accommodations, then Withinnovation’s mobile application may fully satisfy your spirit of adventure and discovery.
The development of mobile applications pertaining to travel have been very astounding thanks to the innovative creators of the 21st century. Yeogieottae, which is translated as ‘how about here’, tops the Google Play charts under the category of travel apps. The convenience of this app has spread like wildfire to other mobile users, and as a result, the company had earned roughly US$188 million in 2016. Countless accommodations are made by almost 2 million active users in a month with last year’s record as basis.
As of 2017, the startup company is planning to install this application together with the highly developed technologies like IoTs, VRIs, and AIs. Convenience of boarding flights will be redefined once the experiment announces the success of their app updates.
SEWorks
Life today probably wouldn't be the same if it weren't for the many mobile applications developed by some of the brightest minds working tirelessly to push the boundaries of innovation. Gone are the days when things like contacting a relative or a friend in a different region, keeping yourself up to date with various social events, or maybe getting yourself a cab when each one is already hired. Luckily enough, app developers have created what they create best which have been multi-beneficial.
Although tedious and risky, app developers have to force their way in a fight every time they attempt to create a new application from scratch. One the many struggles of the developers face are the common practices of hackers like app piracy, vulnerability identification, malware injection, and many others. That being said, developers always try their hardest to close a loop that welcomes malicious activities against any app.
South Korean Minpyo Hong, the chief executive officer of SEWorks, heads his team of white-hat hackers to develop a protection for applications that will benefit both businesses and consumers. Appsolid was launched in the first quarter of 2016, and we can all assume that we heard the sigh of relief from various app developers. New features were added such as AppSolid Plugin for Unity and AppSolid for Multidex for the benefit Android users and gamers. With two erected offices located in Seoul and San Francisco, the company has earned an estimated US$10 million which is close to being similar to the earnings of prominent establishments such as Samsung Venture.
Minds Lab
Almost everyone is guilty of dreaming a future where robots play a significant role in our mundane activities. The benefit would be so over the top, and yet not one individual is not willing enough to complain about futuristic inventions. The development of artificial intelligence in such a short time is astonishing and the dreamy future that we want to live in has just started.
In the field of AI, one of South Korea’s youngest startups, Minds Lab, has invented a wide variety of projects that have raised the standards of health care, quality education, and fancy living. Rivaling Amazon’s Echo, the startup has invented a speaker named Ascar. The smart device edges Echo with its usage in a car’s setting, although Echo has been improvised some time this year and this feature was added.
The business has only been around for three years, and it is already earning an income of US$2.1 million annually. An investment of US$5 million backs the company and considering the amount earned in a year, the company will surely get the money back in a short period and will likely top the ranks in the coming years.
Zikto
A trendy juvenile lifestyle have greatly impacted many young teens’ health. Splurging their money on alcohol and club hopping with the presence of heavy nicotine in the air has become an alarming trend that definitely needs an intervention. If activities such as this becomes routine, then you may want to start checking on your health every now and then, and make sure if it’s deteriorating or not.
Engaging in regular exercise can effectively remove the toxins stuck in the body in the form of sweat. Now you maight wonder how many hours of exercise would it take to fully purge all those unhealthy substances from your body. The same query applies if you would want to keep track of your calorie intake since excess caloric consumption damages the progress of healthy living.
A fresh South Korean company called Zikto has developed a device that monitors your daily activities like sitting and walking posture, and even helps you correct them by sending a signal in a form of vibration. The device is called Arki and it is designed to look fashionable so that it goes well with the disccerning sartorial trends of South Korea. The device hit the market and gave the company a healthy profit in 2014. Zikto also received a Design for Asia Award in 2015 with the release of Arki. Many people are in dire need of receiving updates about future inventions, especially hospitals and health officials knowing that a company like Zitko can help them improve the lives of many people.
Dot
Companies have been focusing on the improvement of existing high-tech devices, and such changes might be very costly depending on the gadget and of course, the brand of the product itself. In the fast-paced competition of device improvements, some devices are left underdeveloped. Some of these are devices are even designed for people with disabilities like those who are visually impaired. Individuals who have problems with their vision have it tough knowing the devices created for them are bulky, shockingly expensive, and may be insufficient in acquiring information.
Dot has created a device which helps people with eye problems in the best way possible. Instead of them getting cut off in a community that prospers in the means of communication, the company has invented a smart watch which connects them back to the community. The device isn't just used as a tool for navigation, but it also provides a wide array of functions such as receiving and replying to text messages, image to text translation, and keeping them notified about the latest updates in social media. Best of all, it only costs US$290. As a startup company, Dot will be developing its technology and creating kindness that focuses on developing regions of the globe.
