Korean e-commerce startup funding sharply drops since 2022

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Korean e-commerce startup funding sharply drops since 2022 - Korea Economic Daily

Quick Summary:

Series A funding in Korean e-commerce platforms from Feb.7 to Aug.6 of this year reached 38.9 billion won ($28.3 million), down 27.4% from the same period of last year, according to local venture capital data provider The VC on Tuesday.

The number of invested companies in series A funding in the six-month period fell from 33 in 2022, 14 in 2023 to eight this year.“Negative outlook to e-commerce platforms has increased since the payment delays at TMON Inc.and WeMakePrice.

SHRINKING JOBS IN STARTUPS The net hires of entire Korean startups for a half-year period turned negative for the first time this year since the authorities began to collect relevant data in 2016, according to National Pension Service (NPS) and The VC.