Seoul and South Korea might well be the secret start-up center that (still) nobody discusses.
While frequently overshadowed by the scale and scope of the Chinese start-up market next door , South Korea has actually shown over the last couple of years that it can — and will — get in the top-tier of start-up centers.
Case in point: Baedal Minjok (generally reduced to Baemin), among the nation’ s leading food shipment apps, revealed an acquisition deal by Berlin-based Delivery Hero in a hit $4 billion deal late today, representing possibly among the biggest exits yet for the Korean start-up world.
The deal faces antitrust evaluation prior to closing , given that Delivery Hero owns Baemin’ s biggest rival Yogiyo, and for that reason is conditional on regulative approval. Delivery Hero purchased a bulk stake in Yogiyo method back in 2014.