International collaborations & COMEUP 2021

Korean startup First Face wins against U.S. giant Apple over patents, and content startup OGQ could acquire leading stock content company Getty Images. Korea Institute of Startups and Entrepreneurship and Turkish Presidency Investment Office sign MoU to boost investment and enable mutual support for startups. COMEUP 2021 opens pre-registrations for entrepreneurs, investors and visitors. Socar Mobility Malaysia, a unit of Korean car-sharing unicorn startup Socar, is attracting new funding.

South Korean startup wins another case against Apple

Source: Korea Affairs

The Federal Circuit Court of Appeals (CAFC) upheld the Patent Trial and Appeal Board (PTAB) ruling on September 13 that two of First Face’s three patents are valid. First Face filed a patent infringement complaint against Apple against the three patents in July of last year, the PTAB so ruled, and then Apple filed an inter partes review appeal with the CAFC.

First Face is a South Korean startup that has researched and developed user and IT interfaces since 2011. It currently holds approximately 50 registered user authentication and lock screen advertising patents in South Korea, United States, in China, Japan and Europe.

The litigation between First Face and Apple dates back to April 2018, when the first filed a patent infringement action relating to the three patents in the U.S. District Court for the Northern District of California. At that time, First Face claimed that the touch ID technology of iPhone 5S, fifth generation iPad, etc. infringed its US patents. Apple took the case to the PTAB in January 2019.

Korean content platform start-up buys Getty Images unit

Source: The Korea Economic Daily

South Korean content platform startup OGQ Corp. is set to take over the unit of Getty Images Inc., the world’s leading content company, in the country.
OGQ is known to be in talks on the details of the terms of the deal, while working to raise 50 billion won ($ 42.6 million) for the deal, banking industry sources said. investment (IB) on September 12. shareholder of Getty Images Korea, a 50-50 joint venture created in 2017 by Getty Images International and Imazins, a subsidiary of the South Korean IT and finance conglomerate Daou Kiwom Group.

OGQ is expected to use the extensive content owned by Getty Images Korea and improve its financial structure through the acquisition. Getty Images Korea maintained annual operating profit of around 1 billion won and sales of around 10 billion won. Last year, it reported operating profit of $ 1.7 billion with revenues of 13.6 billion won.

Online pre-registrations begin for the Startup Festival ‘Come Up 2021’

Source: Platinum

The Ministry of SMEs and Startups and the Comeup Organizing Committee are launching online pre-registrations for ‘COMEUP 2021’. Entrepreneurs and investors, including those involved in the startup ecosystem, and visitors in general wishing to participate in ‘Come Up’, can apply for a one-month pre-registration from September 16 (Thursday) to October 15 (Fri ).

Online “pre-registration” through the COMEUP website must adhere to the quarantine guidelines for the “advance reservation system” applied to exhibits and exhibitions among the government’s strengthened social distancing quarantine measures. This year’s COMEUP will be held at Dongdaemun Design Plaza (DDP) for three days from 17 (Wednesday) to 19 (sells startups and investors.

Socar Mobility Malaysia obtains new financing

Source: KoreaJoongangDaily

SOCAR

Socar Mobility Malaysia, Malaysia’s No. 1 carsharing company, has attracted 65 billion won of investment to finance its growth in Southeast Asia. Socar Mobility Malaysia, a unit of Korean car-sharing start-up Socar owned at 79% by SK Inc., has secured funding from global private equity fund East Bridge Partners and multinational Sime Darby, SK announced Thursday Inc.

“With the latest investment along with various partnerships, Socar Malaysia is expected to strengthen the competitiveness of its platform,” said Shin Jung-ho, head of SK’s digital investment center. Socar Mobility Malaysia, which launched in 2018, has more than one million subscribers and controls more than 90% of the local market share, according to the company. It launched a service in Indonesia in December 2020 and garnered 100,000 subscribers in six months, the company said.

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