Korean Startups Rapid Growth… Tridge and 2 Others Included in Asia-Pacific Top 100 Growing Companies

[Asia Economy Reporter Ji Yeon-jin] Recently, as funding support for venture companies in South Korea has significantly increased, the number of giant startups with a corporate value exceeding 5 trillion won has greatly expanded. Three domestic startups were included in the top 100 growth companies in the Asia-Pacific region.

According to the 'Asia-Pacific Emerging Giants Trends and Outlook' survey conducted jointly by accounting firm KPMG and global investment bank HSBC on the 18th, the number of unicorn companies in South Korea, which was only three in 2017, increased to 12 as of last April.

The report surveyed 6,472 technology-focused startup companies valued at up to 500 million dollars across 12 major markets in the Asia-Pacific region, including South Korea, China, India, Japan, Australia, Singapore, Hong Kong (SAR), Malaysia, Indonesia, Vietnam, Taiwan, and Thailand.

In the Asia-Pacific region, 'giant startups' were most numerous in China (32.8%) and India (30.1%), followed by Japan (12.7%), Australia (8.7%), Singapore (3.8%), South Korea (2.4%), and Hong Kong (SAR) (1.2%).

The report also revealed the top 100 promising growth companies in the Asia-Pacific region. Among Korean startups, the agricultural and marine products trading platform Tridge (10th), autonomous driving traffic system startup 42dot (49th), and industrial robot manufacturer Doosan Robotics (79th) were listed among the top 100 emerging giants in the Asia-Pacific region.

The report pointed out South Korea's massive investment in digital service research and development, highlighting that Korea is emerging as a startup hub. In fact, South Korea's R&D investment in 2020 reached 83 billion dollars, accounting for 4.6% of GDP, ranking fifth worldwide. The report analyzed, "75% of R&D investment was funded by private companies, creating a virtuous cycle that generates industrial opportunities in various fields."

Korea's unicorn companies are concentrated in platform industries such as Viva Republica, Musinsa, and Market Kurly, and have begun to turn their eyes to the global market, centered on the entertainment industry. Kim Yi-dong, head of the Startup Support Center at Samjong KPMG, said, "Global interest in Korean popular culture has opened overseas markets for Korea's major webtoon platform companies."

This content was produced with the assistance of AI translation services.