South Korea’s 40 most valuable startups
A quarterly ranking of non-listed South Korean startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; our AI estimates it.
National ranking · all sectors
This ranking shows the startups as they stood on 1 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 18 Oct 2026.
Spotted a more recent round? Tell us →First edition: no movements yet.
| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a local partner. Neither is an order nor a commitment to invest. Terms for Backers → |
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| 1 | TossSeoul · founded 2013Viva Republica, HQ Seoul Valuation implied by new shares issued to Ant Group in exchange for its Toss Payments stake. US listing in preparation. Last cash round: Series G, USD 405M, Dec 2022 (Tonic PE). |
Fintech › financial super-app | USD >0.9bn raised Share swap with Ant Group · no cash · Jan 2026 (implied KRW 20.5tn) |
Last known equity round: Series G · USD 405M · Dec 2022 Published valuation: USD 14.1bn (Jan 2026)Method |
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| 2 | YanoljaSeoul · founded 2007HQ Seoul; split into NOL Universe (consumer) and Yanolja Cloud (B2B) Valued at about USD 6.7bn in 2021. A Nasdaq listing targeting USD 9bn was withdrawn in 2024. Net loss in 2025. |
Travel › travel super-app and hospitality cloud | USD ~2bn raised Growth · USD 1.7bn (about half secondary) · Jul 2021 (SoftBank Vision Fund 2) |
Last known equity round: Growth round (primary part) · USD 870M · Jul 2021 (SoftBank Vision Fund 2) Published valuation: USD 6.7bn (Jul 2021)Method |
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| 3 | MusinsaSeoul · founded 2001HQ Seoul Filed for KOSPI preliminary review on 7 Sep 2026, targeting about KRW 8tn; listing expected in H1 2027. Profitable. |
Commerce › fashion e-commerce and retail | USD ~330M raised Series C · USD 190M · Jul 2023 (KKR, Wellington) |
Last known equity round: Series C · USD 190M · Jul 2023 (KKR, Wellington) Published valuation: USD 2.7bn (Jul 2023)Method |
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| 4 | Danggeun (Karrot)Seoul · founded 2015HQ Seoul Profitable from advertising since 2024. No round since 2021. |
Commerce › hyperlocal marketplace | USD ~205M raised Series D · USD 162M · Aug 2021 (DST Global) |
Last known equity round: Series D · USD 162M · Aug 2021 (DST Global) Published valuation: USD 2.7bn (Aug 2021)Method |
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| 5 | RebellionsSeongnam (Pangyo) · founded 2020HQ Seongnam; merged with SK’s Sapeon Korea (2024) Part of the round is public policy money. KOSPI listing now targeted for H1 2027. |
Semiconductors › AI inference chips | USD ~850M raised Pre-IPO · USD 400M · Mar 2026 (Mirae Asset, Korea National Growth Fund) |
Last known equity round: Pre-IPO round · USD 400M · Mar 2026 (Mirae Asset, Korea National Growth Fund) Published valuation: USD 2.3bn (Mar 2026)Method |
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| 6 | DeepXSeongnam (Pangyo) · founded 2018HQ Seongnam Round closing in tranches until end-October 2026; IPO planned for 2027. Valuation up from KRW 700bn at the 2024 Series C. |
Semiconductors › edge AI chips | Undisclosed amount raised Series D (first tranche) · USD ~30M · Aug 2026 (Shinhan Financial); up to KRW 350bn planned |
Last known equity round: Series D first tranche · USD 30M · Aug 2026 (Shinhan Financial) Published valuation: USD 2.2bn (Aug 2026)Method |
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| 7 | IICOMBINED (Gentle Monster)Seoul · founded 2011HQ Seoul; stores worldwide A Jun 2026 secondary sale (ZWC Partners) valued the group at KRW 3.35tn, below Google’s entry. Profitable consumer brand group. |
Consumer › eyewear and lifestyle brands | Undisclosed amount raised Strategic · USD 100M (4%) · Jun 2025 (Google) |
Last known equity round: Strategic round · USD 100M · Jun 2025 (Google) Published valuation: USD 2.2bn (Jun 2026)Method |
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| 8 | FuriosaAISeoul · founded 2017HQ Seoul; US office Round still being paid in, at KRW 3tn pre-money. Turned down a USD 800M takeover offer from Meta in 2025. About half the round comes from public policy funds. Listing targeted for H2 2028. |
Semiconductors › AI inference chips | USD ~800M (estimate) raised Series D (pre-IPO) · up to USD ~600M (KRW 850bn) · from May 2026 (TS Investment; policy funds) |
Last known equity round: Series D · USD 578M · May 2026 (TS Investment; policy funds) Published valuation: USD 2.2bn (May 2026)Method |
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| 9 | AblySeoul · founded 2015Ably Corporation, HQ Seoul The KRW 3tn valuation of the Alibaba deal is disputed: secondary prices were reported below KRW 1tn and the company is fully capital-impaired. |
Commerce › fashion and beauty marketplace | Undisclosed amount raised Strategic · USD ~71M (KRW 100bn, 5%) · Dec 2024 (Alibaba) |
Last known equity round: Strategic round · USD 71.4M · Dec 2024 (Alibaba) Published valuation: USD 2.1bn (Dec 2024)Method |
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| 10 | KurlySeoul · founded 2014HQ Seoul Down round at KRW 2.8tn, against about KRW 4tn in 2021. Record operating profit in Q1 2026; IPO being revived. |
Commerce › online grocery and dawn delivery | Undisclosed amount raised Strategic · USD ~23M (KRW 33bn) · May 2026 (Naver) |
Last known equity round: Strategic round · USD 23M · May 2026 (Naver) Published valuation: USD 1.9bn (May 2026)Method |
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| 11 | Megazone CloudSeoul · founded 2018HQ Seoul; offices in 8 countries Pre-IPO investment from Neowiz Partners in Sep 2026 (amount undisclosed). KOSPI listing in preparation. Revenue of KRW 1.75tn in 2025. |
Business software › cloud services and AI | USD >430M raised Series C · USD 343M (KRW 450bn) · Aug 2022 (MBK Partners, IMM PE) |
Last known equity round: Series C · USD 343M · Aug 2022 (MBK Partners, IMM PE) Published valuation: USD 1.8bn (Aug 2022)Method |
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| 12 | UpstageSeoul · founded 2020HQ Seoul region; US office in San Jose Reported valuation: KRW 1tn to 1.6tn. Acquiring the Daum portal from Kakao through a share swap. Part of the round is public policy money. |
AI › language models and document AI | USD ~500M (KRW ~700bn) raised Series C extension · USD ~405M (KRW 560bn) · Apr 2026 (Korea National Growth Fund, Mirae Asset, SK Networks) |
Last known equity round: Series C extension · USD 405M · Apr 2026 (Korea National Growth Fund, Mirae Asset, SK Networks) Published valuation: USD 1.2bn (Apr 2026)Method |
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| 13 | Bucketplace (Ohouse)Seoul · founded 2014HQ Seoul Valued at KRW 2tn in 2022. Revenue above KRW 300bn in 2025. |
Commerce › home and interior platform | USD ~261M raised Series D · USD 182M · May 2022 (SoftBank Ventures Asia, Bond, KDB) |
Last known equity round: Series D · USD 182M · May 2022 (SoftBank Ventures Asia, Bond, KDB) Published valuation: USD 1.4bn (May 2022)Method |
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| 14 | Wrtn TechnologiesSeoul · founded 2021HQ Seoul; operations in Japan and the US Valued above KRW 1tn. Overseas sales now exceed domestic sales. |
AI › consumer AI apps | USD ~166M (KRW 230bn) raised Series C · USD 72M (KRW 100bn) · Aug 2026 (Coreline Ventures, Goodwater, KDB) |
Last known equity round: Series C · USD 72.2M · Aug 2026 (Coreline Ventures, Goodwater, KDB) Published valuation: USD 722M (Aug 2026)Method |
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| 15 | XCENASeongnam (Pangyo) · founded 2022HQ Seongnam Formerly MetisX. |
Semiconductors › CXL computational memory | USD ~185M raised Series B · USD 135M · May 2026 (Atinum Investment) |
Last known equity round: Series B · USD 135M · May 2026 (Atinum Investment) Published valuation: USD 570M (May 2026)Method |
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| 16 | Holiday RoboticsSeoul · founded 2024HQ Seoul One of the largest Series A rounds in Korea. |
Robotics › humanoid robots for manufacturing | Undisclosed amount raised Series A · USD ~105M (KRW 155bn) · Jul 2026 (KDB, IBK, IMM Investment) |
Last known equity round: Series A · USD 105M · Jul 2026 (KDB, IBK, IMM Investment)Method | Be the first | Back |
| 17 | ZigbangSeoul · founded 2011HQ Seoul Valued at KRW 2.5tn in 2022. The 2025 KRW 60bn from VIG was debt (bonds with warrants), not counted. |
Proptech › property listings and smart home | Undisclosed amount raised Series E · USD ~78M (KRW 100bn) · Jun 2022 (KDB, IMM, Hana) |
Last known equity round: Series E · USD 78M · Jun 2022 (KDB, IMM, Hana) Published valuation: USD 1.9bn (Jun 2022)Method |
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| 18 | FlexSeoul · founded 2019HQ Seoul Valued at KRW 500bn. ARR above KRW 30bn. |
HR tech › HR and payroll software | USD ~58M (KRW 80bn) raised Series B-1 · USD ~7M (KRW 10bn) · Jun 2025 (Han River Partners) |
Last known equity round: Series B-1 · USD 7.3M · Jun 2025 (Han River Partners) Published valuation: USD 366M (Jun 2025)Method |
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| 19 | WadizSeoul · founded 2012HQ Seoul Operating profit since late 2024. KOSDAQ listing targeted. |
Fintech › reward and equity crowdfunding | Undisclosed amount raised Series D · USD 68M · Dec 2021 (Lotte Holdings) |
Last known equity round: Series D · USD 68M · Dec 2021 (Lotte Holdings)Method | Be the first | Back |
| 20 | BOS SemiconductorsSeongnam (Pangyo) · founded 2022HQ Seongnam | Semiconductors › automotive AI chips | Undisclosed amount raised Series A · USD ~60M (KRW 87bn) · Feb 2026 |
Last known equity round: Series A · USD 60.2M · Feb 2026Method | Be the first | Back |
| 21 | Socra AI (ex-Riiid)Seoul · founded 2014HQ Seoul Restructured in 2022, closed its US operations in 2024 and renamed itself Socra AI in Sep 2025. Heavy losses. |
Edtech › AI tutoring and test prep | USD ~250M raised Growth · USD 175M · May 2021 (SoftBank Vision Fund 2) |
Last known equity round: Growth round · USD 175M · May 2021 (SoftBank Vision Fund 2)Method | Be the first | Back |
| 22 | MyrealtripSeoul · founded 2012HQ Seoul Profitable since 2024. Listing targeted for 2027. Debt not counted. |
Travel › online travel and activities | USD ~113M raised Series F · USD 56.7M (KRW 75.6bn) · Jan 2024 (BRV, IMM) |
Last known equity round: Series F · USD 56.7M · Jan 2024 (BRV, IMM)Method | Be the first | Back |
| 23 | Blue ElephantSeoul · founded 2019HQ Seoul Valued at about KRW 400bn. Part of the round is an option exercisable within six months. |
Consumer › eyewear brand | Undisclosed amount raised Series A · USD ~71M (KRW 100bn) · Aug 2026 (Affinity Equity Partners) |
Last known equity round: Series A · USD 71.4M · Aug 2026 (Affinity Equity Partners) Published valuation: USD 286M (Aug 2026)Method |
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| 24 | CarbonSixSeoul · founded 2024HQ Seoul (a US entity is also listed) | Robotics › robot foundation models for manufacturing | USD ~47M (KRW ~66bn) raised Series A · USD ~40M (KRW 60bn) · Jul 2026 (DSC Investment, LB Investment) |
Last known equity round: Series A · USD 40M · Jul 2026 (DSC Investment, LB Investment)Method | Be the first | Back |
| 25 | Seoul RoboticsSeoul · founded 2017HQ Seoul; offices in the US and Germany Valued at KRW 280bn at the bridge round. Last disclosed amount: Series B, USD 25M, Jan 2023. |
Robotics › 3D lidar perception for infrastructure | Undisclosed amount raised Bridge · undisclosed · Dec 2024 (TK Investment) |
Last known equity round: Series B · USD 25M · Jan 2023 Published valuation: USD 200M (Dec 2024)Method |
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| 26 | BanksaladSeoul · founded 2012HQ Seoul Valuation down more than 40% from 2022. KOSDAQ listing in preparation. |
Fintech › personal finance and insurance brokerage | USD ~150M (KRW ~200bn) raised Pre-IPO (underwriter) · USD ~0.4M · Jun 2025 (Mirae Asset Securities) |
Last known equity round: Pre-IPO round · USD 370k · Jun 2025 (Mirae Asset Securities) Published valuation: USD 187M (Jun 2025)Method |
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| 27 | LinerSeoul · founded 2015Dual HQ Seoul and San Francisco | AI › research search engine | USD ~64M raised Series C · USD 36.1M · Aug 2026 (LB Investment, KDB) |
Last known equity round: Series C · USD 36.1M · Aug 2026 (LB Investment, KDB)Method | Be the first | Back |
| 28 | FindaSeoul · founded 2015HQ Seoul | Fintech › loan comparison | USD ~50M (KRW 64.4bn) raised Series C · USD ~36M (KRW 47bn) · Jul 2023 (JB Financial Group, 500 Global) |
Last known equity round: Series C · USD 36M · Jul 2023 (JB Financial Group, 500 Global)Method | Be the first | Back |
| 29 | Scatter LabSeoul · founded 2011HQ Seoul Maker of the Zeta app. |
AI › character chat app | Undisclosed amount raised Series D · USD ~36M (KRW ~50bn) · Jun 2026 (Atinum, SBVA, Mirae Asset Venture) |
Last known equity round: Series D · USD 35.7M · Jun 2026 (Atinum, SBVA, Mirae Asset Venture)Method | Be the first | Back |
| 30 | Prazer TherapeuticsSeoul · founded 2019HQ Seoul KOSDAQ listing targeted. |
Biotech › targeted protein degradation | Undisclosed amount raised Pre-IPO · USD ~34M (KRW 50bn) · Jul 2026 |
Last known equity round: Pre-IPO round · USD 33.8M · Jul 2026Method | Be the first | Back |
| 31 | Autonomous A2ZGyeongsan · founded 2018HQ Gyeongsan Filed for KOSDAQ preliminary review; listing targeted before end-2026. |
Mobility › level-4 autonomous driving | USD ~85M (KRW 122.5bn) raised Pre-IPO · USD ~29M (KRW 40.5bn) · Mar 2026 |
Last known equity round: Pre-IPO round · USD 28.9M · Mar 2026Method | Be the first | Back |
| 32 | RLWRLDSeoul · founded 2024HQ Seoul | Robotics › robot foundation models | USD ~41M raised Seed 2 · USD 26M · Feb 2026 (Headline Asia, Z Venture Capital) |
Last known equity round: Seed 2 · USD 26M · Feb 2026 (Headline Asia, Z Venture Capital)Method | Be the first | Back |
| 33 | UnastellaSeoul · founded 2022HQ Seoul | SpaceTech › small launch vehicles | USD ~44M raised Series B · USD ~24M (KRW 33.5bn) · Jun 2026 (Altos Ventures) |
Last known equity round: Series B · USD 24M · Jun 2026 (Altos Ventures)Method | Be the first | Back |
| 34 | PFCTSeoul · founded 2015PFC Technologies (formerly PeopleFund), HQ Seoul | Fintech › AI credit scoring and online lending | USD ~100M (KRW 125.6bn) raised Series C extension · USD ~19M (KRW 24.7bn) · Jan 2023 (Bain Capital) |
Last known equity round: Series C extension · USD 19M · Jan 2023 (Bain Capital)Method | Be the first | Back |
| 35 | PromediusSeoul · founded 2019HQ Seoul | Healthtech › AI osteoporosis screening | USD >25M (KRW >35bn) raised Series B · USD ~15M (KRW 21.5bn) · Jun 2026 (Daewoong Pharmaceutical, Naver) |
Last known equity round: Series B · USD 15.4M · Jun 2026 (Daewoong Pharmaceutical, Naver)Method | Be the first | Back |
| 36 | wert IntelligenceSeoul · founded 2015HQ Seoul | Business software › patent intelligence | Undisclosed amount raised Series B · USD 10.9M (KRW 16.5bn) · Jul 2026 (Altos Ventures) |
Last known equity round: Series B · USD 10.9M · Jul 2026 (Altos Ventures)Method | Be the first | Back |
| 37 | WireBarleySeoul · founded 2016HQ Seoul No disclosed round since 2020. |
Fintech › cross-border remittance | Undisclosed amount raised Series B · USD ~8.5M (KRW 10bn) · Sep 2020 (Magna Investment, Shinsegae I&C) |
Last known equity round: Series B · USD 8.5M · Sep 2020 (Magna Investment, Shinsegae I&C)Method | Be the first | Back |
| 38 | Channel CorpSeoul · founded 2014HQ Seoul; subsidiaries in Japan and the US A quarter of revenue comes from abroad. |
Business software › AI customer messaging | USD ~39M (KRW ~51bn) raised Series D · USD ~8M (KRW 11bn) · Jan 2025 (Bon Angels, Altos Ventures) |
Last known equity round: Series D · USD 8.4M · Jan 2025 (Bon Angels, Altos Ventures)Method | Be the first | Back |
| 39 | SentBeSeoul · founded 2015HQ Seoul | Fintech › cross-border remittance | USD ~30M (KRW ~40bn) raised Strategic · USD ~3.8M (KRW 5.5bn, 3.4%) · Apr 2026 (Heungkuk Fire & Marine) |
Last known equity round: Strategic round · USD 3.8M · Apr 2026 (Heungkuk Fire & Marine)Method | Be the first | Back |
| 40 | Class101Seoul · founded 2018HQ Seoul Turnaround after a 2023–24 cash crunch. |
Edtech › online creative classes | USD ~57M (KRW 82.5bn) raised Follow-on · USD ~2.4M (KRW 3.5bn) · Feb 2025 (Strong Ventures) |
Last known equity round: Follow-on round · USD 2.4M · Feb 2025 (Strong Ventures)Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a local partner. · Terms
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How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; our AI estimates it.
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Rankings by sector
Four verticals at launch, more when the feasibility test allows.AI & semiconductors
AI chips, language models and consumer AI apps.
Commerce & consumer
Fashion, grocery, marketplaces, travel and brands.
Fintech & crypto
Super-apps, lending, remittance and crowdfunding.
Robotics & deeptech
Humanoids, robot foundation models, space and autonomy.
Introductions made by a local partner, currently being selected
M&A boutique or capital raising adviser licensed by the FSC (Financial Services Commission of Korea), the only party entitled to contact companies and structure deals. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.
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Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Enlighten · Climate tech › rooftop solar for industryProject-level funding · USD ~21M (KRW 30bn) · Jan 2026 (Templeton Hana Asset Management)Back
- Doctornow · Healthtech › telemedicine and e-pharmacySeries B follow-on · undisclosed · late 2025 (Hashed, Mirae Asset); last disclosed: USD ~32M (KRW 40bn), Jun 2022Back
Born in South Korea, based elsewhere
Companies of South Korean origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Moloco · Adtech › machine-learning advertising
Korean founders; HQ Redwood City (US), large Seoul officeSeries C · USD 150M · 2021 (Tiger Global)Back - Twelve Labs · AI › video understanding models
Korean founders; HQ San Francisco, R&D in SeoulSeries B · USD 100M · Jul 2026 (NEA, Naver Ventures)Back - Sendbird · Business software › chat APIs and AI agents
Founded in Korea; HQ San Mateo (US), co-HQ SeoulSeries C · USD 100M · Apr 2021 (Steadfast, SoftBank Vision Fund 2)Back - Point2 Technology · Semiconductors › data-centre interconnect
KAIST spin-off; HQ San Jose (US)Series B extension · Series B total USD 136M · Aug 2026 (LB Investment, Nvidia, Arm)Back - LinqAlpha · Fintech › AI agents for investors
Korean founders; HQ New YorkSeries A · USD 22M · Jul 2026 (Atinum Investment, GFT Ventures)Back - INOCRAS · Healthtech › whole-genome cancer diagnostics
Korean origin; HQ San Diego (US)Series B · USD ~31M (KRW 44.35bn) · Aug 2026 (IMM Investment)Back
Not ranked
- Dunamu (Upbit) · Merger into Naver Financial by share swap pending, now expected at end-2026 (valued about USD 10bn)
- Kakao Mobility · Subsidiary of Kakao (KOSPI), 57%; US listing filed confidentially (Jun 2026)
- Kakao Entertainment · Controlled by Kakao (KOSPI)
- Kakao Style (Zigzag) · Owned by Kakao (KOSPI) since 2021
- Kream · Naver group company (KOSPI)
- Bithumb · Not venture-funded: controlled by a holding company
- Korbit · Acquired by Mirae Asset (Jul 2026)
- TMON · Receivership (Jul 2024), then acquired by Oasis (Jun 2025)
- WeMakePrice · Declared bankrupt by the Seoul Bankruptcy Court (Nov 2025)
The method in South Korea
Calendar. Quarterly ranking, published on the 18th of January, April, July and October. Next edition: October 18, 2026.
Eligibility: at least $1M raised in equity, non-listed company, main operations in South Korea.
Partner sought. M&A boutique or capital raising adviser licensed by the FSC (Financial Services Commission of Korea).
Sources. Korean and international business and technology press (Korea JoongAng Daily, Korea Herald, Yonhap, KED Global, Seoul Economic Daily, Maeil Business, The Bell, Startup Recipe, TechCrunch, Bloomberg), Ministry of SMEs and Startups and THE VC data, company and investor announcements.