Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child

    Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
  2. 2

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser

    Trump picks ex-N. Korea policy official as his principal deputy national security adviser
  3. 3

    First snow to fall in Seoul on Wednesday

    First snow to fall in Seoul on Wednesday
  4. 4

    Wealthy parents ditch Korean passports to get kids into international school

    Wealthy parents ditch Korean passports to get kids into international school
  5. 5

    S. Korea not to attend Sado mine memorial: foreign ministry

    S. Korea not to attend Sado mine memorial: foreign ministry
  1. 6

    Man convicted after binge eating to avoid military service

    Man convicted after binge eating to avoid military service
  2. 7

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms

    Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
  3. 8

    [Weekender] Korea's traditional sauce culture gains global recognition

    [Weekender] Korea's traditional sauce culture gains global recognition
  4. 9

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'

    BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
  5. 10

    Korea to hold own memorial for forced labor victims, boycotting Japan’s

    Korea to hold own memorial for forced labor victims, boycotting Japan’s
피터빈트

Qualcomm to pump W100b into Korean tech start-ups

By 이지윤

Published : July 1, 2015 - 17:34

    • Link copied

Qualcomm, the U.S. chipmaker, said Wednesday it would invest up to 100 billion won ($90 million) in Korean technology start-ups in a move to help foster innovation and entrepreneurship in the Korean economy.

The announcement was made when executive chairman Paul Jacobs visited Korea this week to celebrate the company’s 30th anniversary and 25 years of strong relations with Korea.

The company said it intends to expand its involvement in the Korean start-up scene with both direct and indirect investments.

Of the new investment, Qualcomm teamed up with Growth Ladder Fund, a fund raised by financial corporations under the Korean government’s start-up support plan, to create a new 50 billion won fund by the end of the year. 

Qualcomm executive chairman Paul Jacobs (right) and Kim Young-deok, chairman of the advisory committee for the Growth Ladder Fund, shake hands after signing an MOU on supporting Korean start-ups in Samseong-dong, southern Seoul, Wednesday. (Qualcomm Korea) Qualcomm executive chairman Paul Jacobs (right) and Kim Young-deok, chairman of the advisory committee for the Growth Ladder Fund, shake hands after signing an MOU on supporting Korean start-ups in Samseong-dong, southern Seoul, Wednesday. (Qualcomm Korea)

The company also plans to invest in several funds dedicated to fostering the mobile ecosystem in the country.

“Korea is a vibrant country with a community of ambitious and talented entrepreneurs, and we will enable their visions with our partnerships, our technologies and our funds,” said the Qualcomm chief.

Qualcomm has a history of investments in Korea. Over the past four years, Qualcomm has made 12 investments across various sectors including components, enterprise software, mobile applications and services, and gaming.

Recently, Qualcomm’s investments in the region have accelerated, with Qualcomm Ventures investing almost 10 billion won in three companies -― Dunamu, a mobile-first security, social-trading platform; Job Planet, a company review and job placement service; and MangoPlate, a big-data-driven, personalized restaurant recommendation service -― during the first half of 2015 alone.

By Lee Ji-yoon (jylee@heraldcorp.com)

More from Headlines