South Korea, a nation with a rich history of innovation and entrepreneurship, has witnessed an incredible surge in the number of unicorns – privately held start-up companies valued at over $1 billion – in recent years. With the rapid growth of the South Korea economy and the rise of disruptive technologies, these 17 unicorn companies have become the driving force behind the nation’s rise as a global powerhouse.
So without any delay, let’s get started and discover the world of South Korea’s unicorn companies!
List of 17 Unicorns in South Korea
1. Toss
A South Korean financial technology company that provides mobile banking services and a financial super app for customers.
Company Details:
- Valuation: $7.40B
- Investors Name: Bessemer Venture Partners, Qualcomm Ventures, Kleiner Perkins Caufield & Byers
- City: Seoul
- Industry: Fintech
- Total Funding Raised: $844.2M
- Founded Year: 2013
- Joined Unicorn Club: 12/9/2018
- Total Investors:
- Total Deal Terms: 6
- Website: https://toss.im/
2. Yello Mobile
A South Korean mobile internet company that provides mobile advertising and commerce solutions for businesses.
Company Details:
- Valuation: $4B
- Investors Name: Formation 8
- City: Seoul
- Industry: Mobile & telecommunications
- Total Funding Raised: $216.07M
- Founded Year: 2012
- Joined Unicorn Club: 11/11/2014
- Total Investors:
- Total Deal Terms: 6
- Website: http://www.yellomobile.com/
3. Kurly
A South Korean online grocery platform that provides grocery delivery solutions and services for customers.
Company Details:
- Valuation: $3.30B
- Investors Name: Sequoia Capital China, DST Global, DST Global
- City: Seoul
- Industry: Supply chain, logistics, & delivery
- Total Funding Raised: $769.86M
- Founded Year: 2014
- Joined Unicorn Club: 7/9/2021
- Total Investors:
- Total Deal Terms: 6
- Website: https://www.kurly.com/
4. Tridge
A global sourcing and trading platform connecting buyers and suppliers
Company Details:
- Valuation: $2.70 B
- Investors Name: Forest Partners, Softbank Ventures Asia
- City: Seoul
- Industry: Internet software & services
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 8/24/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.tridge.com/
5. WEMAKEPRICE
WEMAKEPRICE is a South Korean e-commerce company that offers various products and services, including daily deals, coupons, travel packages, and more.
Company Details:
- Valuation: $2.34B
- Investors Name: IMM Investment, NXC
- City: Seoul
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: $486.65M
- Founded Year: 2009
- Joined Unicorn Club: 9/9/2015
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.wemakeprice.com/main
6. MUSINSA
MUSINSA is a Korean online fashion platform that offers a wide range of products from local and international brands.
Company Details:
- Valuation: $2.20B
- Investors Name: Sequoia Capital
- City: Seoul
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: $286.36M
- Founded Year: 2001
- Joined Unicorn Club: 11/11/2019
- Total Investors:
- Total Deal Terms: 2
- Website: https://www.musinsa.com/
7. ZigBang
ZigBang is a Korean real estate platform that provides information on properties, apartments, and more.
Company Details:
- Valuation: $1.93 B
- Investors Name: Black Pearl Ventures, Stonebridge Ventures, Yuanta Investment Korea
- City: Seoul
- Industry: Mobile & telecommunications
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 6/7/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.zigbang.com/
8. MEGAZONE
MEGAZONE is a South Korean cloud computing and managed services provider.
Company Details:
- Valuation: $1.83 B
- Investors Name: Salesforce Ventures, ATP Investment, kt investment
- City: Seoul
- Industry: Internet software & services
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 8/16/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.cloudpia.co.kr/
9. Bucketplace
Bucketplace is a South Korean online shopping platform that offers a wide range of products, including fashion, beauty, and home goods.
Company Details:
- Valuation: $1.40 B
- Investors Name: IMM Investment, Mirae Asset Capital, BOND
- City: Seoul
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 5/9/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.bucketplace.co.kr/
10. RIDI
RIDI is a South Korean e-book service provider that offers a vast selection of e-books and webtoons.
Company Details:
- Valuation: $1.33B
- Investors Name: Atinum Investment, Company K Partners, GIC
- City: Seoul
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: $331.23M
- Founded Year: 2008
- Joined Unicorn Club: 2/28/2022
- Total Investors:
- Total Deal Terms: 5
- Website: https://www.ridibooks.com/
11. GPclub
GPclub is a South Korean e-commerce company that offers a wide range of products, including electronics, home appliances, and more.
Company Details:
- Valuation: $1.32B
- Investors Name: Goldman Sachs
- City: Seoul
- Industry: Other
- Total Funding Raised: $66.16M
- Founded Year: 2003
- Joined Unicorn Club: 10/22/2018
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.gpshop.co.kr/
12. L&P Cosmetic
L&P Cosmetic is a Korean cosmetics company that offers various skincare and beauty products.
Company Details:
- Valuation: $1.19B
- Investors Name: CDIB Capital
- City: Seoul
- Industry: Consumer & retail
- Total Funding Raised: $118.64M
- Founded Year: 2009
- Joined Unicorn Club: 1/1/2016
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.lpcosmetic.com/
13. Aprogen
Aprogen is a South Korean biotech company that specializes in developing and producing biosimilar products.
Company Details:
- Valuation: $1.04B
- Investors Name: Lindeman Asia Investment, Nichi-Iko Pharmaceutical
- City: Seongnam-Si
- Industry: Health
- Total Funding Raised: $62.12M
- Founded Year: 2000
- Joined Unicorn Club: 5/31/2019
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.aprogen.com/
14. IGAWorks
IGAWorks is a South Korean mobile marketing company that offers various mobile marketing services, including user acquisition, retention, and analytics.
Company Details:
- Valuation: $1.00 B
- Investors Name: Korea Investment Private Equity, Atinum Investment, Korea Investment Partners
- City: Seoul
- Industry: Internet software & services
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 11/8/2021
- Total Investors:
- Total Deal Terms: –
- Website: https://www.igaworks.com/
15. Dunamu
Korean fintech firm that operates the cryptocurrency exchange Upbit
Company Details:
- Valuation: $1B
- Investors Name: Qualcomm Ventures, Woori Investment, Hanwha Investment & Securities
- City: Seoul
- Industry: Fintech
- Total Funding Raised: $72.44M
- Founded Year: 2012
- Joined Unicorn Club: 7/22/2021
- Total Investors:
- Total Deal Terms: 2
- Website: https://www.dunamu.com/
16. Socar
South Korean car-sharing platform that provides a range of transportation options
Company Details:
- Valuation: $1B
- Investors Name: Bain Capital, Altos Ventures, Songhyun Investment
- City: Jeju-do
- Industry: Auto & transportation
- Total Funding Raised: $100M
- Founded Year: 2011
- Joined Unicorn Club: 10/16/2020
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.socar.kr/
17. Yanolja
South Korean travel and leisure platform that offers booking services for accommodations, restaurants, and activities
Company Details:
- Valuation: $1B
- Investors Name: SBI Investment Korea, Partners Investment, GIC
- City: Seoul
- Industry: Travel
- Total Funding Raised: $2.036B
- Founded Year: 2005
- Joined Unicorn Club: 6/10/2019
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.yanolja.com/
Conclusion
In conclusion, South Korea’s top 17 unicorns showcase the nation’s innovative power and economic growth. These companies are making a global impact and reshaping industries. Keep an eye on these trailblazers, as they continue to redefine success in the ever-evolving world of innovation.