South Korea Startup Investment Surges 24.1% in Q1
Quick Look
- South Korea saw a 24.1% year-on-year increase in startup investment in Q1, reaching 3.32 trillion won ($2.21 billion).
- This marks the second-highest Q1 total on record, driven by significant growth in ICT services, biotech, and electric machinery, particularly AI-related semiconductor projects.
AI-generated summary
SEOUL, May 17 (Yonhap) -- South Korea's investment in startups shot up 24.1 percent from a year earlier in the first quarter, government data showed Sunday.
A total of 3.32 trillion won (US$2.21 billion) was invested in venture firms and startups during the January-March period, according to data from the Ministry of SMEs and Startups.
The figure marked the second-highest first-quarter total on record, following 2022, when startup investment boomed amid a global venture boom.
By industry, investment in information and communications technology (ICT) services increased significantly, while funding for biotech and electric machinery and equipment also rose.
Investment in ICT manufacturing jumped 99.5 percent from a year earlier, the fastest growth among sectors, the latest findings showed.
Officials attributed the increase to larger deals in artificial intelligence (AI)-related semiconductor projects.
