Korean unicorn companies are readjusting their growth strategy to prioritize profitability.

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CYBERSECURITY EXCHANGESThe slowdown in the cybersecurity market in 2023 put a dent on Korean unicorns in the sector.Dunamu Inc., the operator of South Korea's top cryptocurrency exchange Upbit, chalked up a 19% drop to 1.0 trillion won in sales in 2023 compared to the year prior, with operating profit down 21% to 640.9 billion won.

Kurly, Korea’s dawn delivery pioneer of fresh produce, narrowed operating losses by 40% to 143.6 billion won in 2023 from a year before, while sales edged up 2% to its highest-ever 2.08 trillion won.

Travel platform Yanolja suffered an 88% plunge to 1.7 billion in operating loss in 2023 versus 2022, weighed by losses from Interpark Triple Corp., the travel service unit it acquired in 2022.

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Category: Economy

Markets: South KoreaSingaporeVietnam

Topics: Sales 2023 Billion Advertising Year Korean Unicorns Growth Losses 2022 Operating

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-17 @ 14:21:55 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 867 words

Reading Time: 5 minutes read

Sentences: 41 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 20710661

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About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

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News Last Updated: 58 minutes ago

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