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S. Korea says 5 new startups win unicorn status

Startups 14:32 July 21, 2022

SEOUL, July 21 (Yonhap) -- Five South Korean startups made it to the list of unicorns in the first half this year, bringing the total to 23, the Ministry of SMEs and Startups said Thursday.

A unicorn refers to an unlisted startup with a valuation of more than US$1 billion.

The five new companies that have reached unicorn status are GC Co., the operator of ticket booking platform Yeogi Eottae; Megazone Cloud, a cloud service operator; Shift Up, developer of Destiny Child mobile game; IGAWorks, a big data platform provider; and Oasis, operator of the Oasis online market.

South Korea was ranked 10th in the number of unicorns, according to U.S. data company CB Insights.

The United States had the largest number of unicorns with 628, followed by China with 174 and India with 68.


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