AI chip startups in Korea are attracting big tech engineers due to potential competition.

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Samsung Electronics, the world’s top memory chipmaker, paid no performance bonuses for its chip business employees last year after posting huge losses in its semiconductor business.“Many people sought jobs at large companies for a big salary and some turned their eyes to startups for a vision and growth potential.

FuriosaAI raised 80 billion won ($60 million) in its latest fundraising from venture capitalists in the second half of 2023 while MangoBoost raised 72.7 billion won in a Series A investment round last September.“The venture capital market is still going through tough times, but AI semiconductor companies with great growth potential are an exception,” said a venture capitalist in Seoul.

According to industry officials on Wednesday, Korean fabless AI chip design startup Rebellions Inc.recently put up a hiring notice, which attracted more than 500 applicants, mostly from large domestic companies such as Samsung Electronics Co., SK Hynix Inc., LG Electronics Inc., Naver Corp.and Netmarble Corp.as well as foreign firms, including AMD and ASML.

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Article Details

Category: Economy

Markets: South Korea

Topics: Chip Venture Korean Startups Semiconductor Large Companies Startup Samsung Engineers 2023

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-20 @ 13:43:58 (1 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 729 words

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Copyright Owner: © Korea Economic Daily

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