COVID-19 has created a slump in employment everywhere in the world and even in South Korea. However, the slowdown has not deterred young Koreans, as they choose entrepreneurship amidst a sluggish job market, says data. Also, the Korean government and corporates are introducing a number of startup incubation programs. The Venture Capital fund influx is also on the rise for startups in the country. More in the news is Musinsa; the fashion unicorn startup, has signed all agreements for the acquisition of Styleshare and 29CM.
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