Korean e-commerce leader Coupang hires Alberto Fornaro as its new chief financial officer

Korean e-commerce leader Coupang hires Alberto Fornaro as its new chief financial officer

Korean e-commerce giant Coupang has a new chief financial officer. The company announced today that it has hired Alberto Fornaro, who previously served the same role at International Gaming Technology (IGT PLC), the multinational gaming machine company. Fornaro succeeds Richard Song, who joined Coupang in 2011 and is retiring. Coupang Read more…

Justice Dept. says it’s taken down ‘one of the world’s largest’ child exploitation sites on the dark web

Justice Dept. says it’s taken down ‘one of the world’s largest’ child exploitation sites on the dark web

The Justice Department says it’s dismantled one of the largest child exploitation sites on the dark web. With the help of international partners in the U.K. and South Korea, U.S. prosecutors have brought charges against a South Korean citizen, Jong Woo Son, for conspiracy to advertise, product, and distribute child Read more…

South Korea-based Mathpresso, developer of tutoring app Qanda, raises $14.5 million Series B

South Korea-based Mathpresso, developer of tutoring app Qanda, raises $14.5 million Series B

Seoul-based education technology startup Mathpresso announced today that it has raised $14.5 million in Series B funding. The company’s flagship app is Qanda, which provides students with math and science help and tutoring. Participants in the round include Legend Capital, InterVest, NP Investments and Mirae Asset Venture Investment. This brings Read more…

Gogoro launches its electric scooters for businesses in South Korea

Gogoro launches its electric scooters for businesses in South Korea

Gogoro, the Taiwanese electric vehicle and mobility platform company, announced today that it has partnered with motorcycle company TIC Corporation to bring its B2B-focused electric scooters to South Korea. Gogoro 2 Utility, a version of the company’s Smartscooters created for logistics and delivery fleets, will be available for purchase through Read more…

Samsung posts 55.6% drop in second-quarter profit as it copes with weak demand and a trade dispute

Samsung posts 55.6% drop in second-quarter profit as it copes with weak demand and a trade dispute

As it forecast earlier this month, Samsung reported a steep drop in its second-quarter earnings due to lower market demand for chips and smartphones. The company said its second-quarter operating profit fell 55.6% year-over-year to 6.6 trillion won (about $5.6 billion), on consolidated revenue of 56.13 trillion won, slightly above Read more…

White Star Capital eyes Asia growth with new Hong Kong office

White Star Capital eyes Asia growth with new Hong Kong office

For western startups looking to enter Asia and Asian startups expanding globally, more funding has become available as investors are increasingly looking to export local tech solutions to overseas markets. Globally based venture capital firm White Star Capital has set up a new office in Hong Kong this month to Read more…