15 Korean Startups Selected in 'Forbes Asia 100 Promising Companies'

Backpacker, Saenghwal Yeonguso, Ward, Kmong, etc.
Selected as the third largest number of companies after 19 in Singapore and 16 in Hong Kong

Yong Tae-sun, CEO of Ward (left), and Yeon Hyun-joo, CEO of the Life Research Institute

[Asia Economy Reporter Kim Cheol-hyun] Fifteen Korean startups have been selected in the '2022 Forbes Asia 100 Promising Companies' announced by Forbes Asia.

According to industry sources on the 31st, the list of the top 100 promising companies by Forbes Asia includes Idus (Backpacker), Cheongso Research Institute (Saenghwal Research Institute), Catch Table (Ward), Kmong, AI4Pet, Apartmentary, Dr. Now, Mobidou, Encode, Payhere, PeopleFund, Flask, Quadminer, Seoul Robotics, and Jandi (Toss Lab).

Forbes Asia received recommendations for over 650 companies from universities, venture capitalists, and investors across the Asian region and conducted evaluations considering capabilities such as creativity, resilience, and adaptability. Korea ranked third with 15 companies selected, following Singapore with 19 and Hong Kong with 16. Notably, only four startups were selected last year, but this time the number increased by 11. This is interpreted as a sign that the innovative capabilities of domestic startups that have grown over the past year are being recognized globally.

Looking at the selected companies, Catch Table provides information on over 3,000 domestic restaurants and operates a real-time reservation service. Cheongso Research Institute is a housekeeping cleaning service with 70,000 registered managers. Backpacker operates the handmade marketplace 'Idus' and the crowdfunding platform 'Tumblbug,' growing rapidly. Kmong is a platform providing a place for domestic freelancers and has been leading the 'gig economy' sector for 10 years this year.

Yong Tae-soon, CEO of Ward, said, "It seems that Catch Table was highly evaluated for establishing a mature gourmet culture in Korea," adding, "Beyond K-content, we are focusing on upgrading systems for an integrated dining solution to facilitate convenient use of K-gourmet services, and we will strive to become a service recognized globally for its technological capabilities."

Yeon Hyun-joo, CEO of Saenghwal Research Institute, said, "Cheongso Research Institute is focusing on developing a convenient matching system between users through digital transformation, following global movements to establish a fair compensation system for domestic labor," adding, "Through this selection, we hope that the professionalism of cleaning managers and the system providing compensation for their work will be recognized in Korea and known in the global market as well."