Now, there are a growing number of mixed-signal IC companies in Korea, many of which are focusing on the power management space. One of the new emerging startups is Silicon Mitus Inc. (Seoul), which has recently completed a new round of funding.

The company has recently received $6 million in funding from Walden International and ePlanet Ventures. This brings the total capitalization for the startup to $12 million.

Founded in 2007, the company is focusing on power management devices for LCDs, mobile and other products. Youm Huh is president and CEO of the chip maker. He was formerly the top executive at Korea's MagnaChip Semiconductor Ltd.

For the most part, Silicon Mitus develops custom chips for power management applications, said Joon Rhee, vice president of the company, at the 11th International Semiconductor 2009 (i-Sedex) trade show here.

The goal is to devise products faster than its competitors, Rhee said. Competitors include Maxim, STMicroelectronics and TI. Fabless Silicon Mitus has its products made on a foundry basis by South Korean foundry vendor Dongbu HiTek.