PR Coverage

Navigating the complex but valuable South Korean search market

In an article for Econsultancy, EVP International Hannes Ben provides an overview of what makes the Korean search market so unique and the many ways in which it is attractive to Western brands and retailers.

South Korea is the third largest ecommerce market in APAC. However, the potential value of the market is much greater than this ranking suggests, especially to Western brands and retailers looking to develop in the region.

Last year, online sales from foreign ecommerce sites operating in South Korea drove more than £550m (1 trillion Korean won) in sales. This £550m represents approximately 3% of total ecommerce revenue in the country which suggests there is a large opportunity for foreign ecommerce sites.

The country boasts an impressive internet penetration rate of 84%, higher than any other APAC country and only just behind the UK and Canada. This is down to South Korea’s highly developed mobile landscape that has a penetration rate of around 70%.