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  From Editor  
 

Korea, your Deja Vu ¡¦¡¦ whether it is bright or not.

One of my close friends, who work in TMT sector and also non Korean, once made an interesting comment on Korean TMT sector. He told me Korean TMT market is either advanced or abnormal. At that point, I started laughing with his interesting metaphor but later realized that his observation to Korean market was more than perfect.

Yes, I am living in the heart of Digital Capital of the World, Seoul and whenever I travel outside of Korea for my business I always agree to my friend¡¯s comment; Seoul is either advanced or abnormal.

If you are in this sector you can some what understand what I want to say. For many years Korea has been portrayed to the World, alongside with Japan, as a weird or different market. Things happening in Seoul were not the things I can easily find out side of Seoul. (I was quite annoyed when I traveled to London where found that my mobile was not working in the Tube.)

Mobile TV, Social Networking Services, Ring back Tone, MMORPG (Massive Multiple Online Role Playing Game), MP 3 Players and many more things started in Seoul. Some went smoothly but many of them actually failed (Yes we fail more than you think). And in Korea, still at this moment, there are many more things being experimented and explored. As Eric Schmitt, CEO of Google, mentioned last year that Korea is the Digital Laboratory of the World, here comes the reason why I am starting this News Letter ¡®Korean Insight ' which will endeavor to reveal the real stories of Korean Digital Landscape bi weekly¡¯.

Firstly I want to let the readers to know the major/noticeable developments in Korean TMT market. So far it was really hard for many foreigners to catch up the Korean TMT market as there was lack of sufficient English sources.

But what I really want to provide you through this News Letter is to help you make better business decisions by knowing what does work or not. We Koreans are very aggressive and trying to do something very bold. And consequently we make many trials and errors. I do hope you to get some implications from our experiences. For instance, Mobile TV, WIBRO (Mobile WIMAX) and IPTV are some key areas you should definitely watch Korean market carefully.

I am always open to your feedback and will work hard to make this News Letter as your Window to Korean TMT sector and more. Feel free to contact me.

Yours Yunho Chung
Managing Partner, Veyond Partners

 
   
  Topic of the Week  
 

WiBro - Will it work as promised?
Tuesday, Nov 25th, 2008

 
 
 
 

WiBro is the Korean version of Mobile WiMax. There are two WiBro carriers, KT and SK Telecom, and their WiBro service brands are KT WiBro and T Login respectively.

The WiBro adoption rate in Korea has been vey slow due to the operators¡¯ low motivation and low interest of customer. WiBro subscribers were, by the end of August 2008, 188 thousand for KT and 3 thousand for SK Telecom. The penetration rate at that time was only 0.4% and ARPU was only 10 US dollars.

>>Read more

 
   
  Trend and Issue  
 

What Koreans are doing on the Net?
November 21st, 2008

On Wednesday I posted that I went to the KNP (Korea Netizen Profile) seminar, and here are some statistics from the 2008 KNP Research.The following chart shows what Koreans use their internet for (To see in detail click the image).

>>Read more

Can ¡°OZ¡± become the Successful Case of MNOs¡¯ Next Killer Application?
November 20th, 2008

On April, I posted that LG Telecom realeased the mobile full browsing service called OZ. OZ is a mobile internet service that offers full browsing and it costs 6,000 won (about 5 dollars) per month for 1 GB traffic (2,000~4,000 web page views).

>>Read more

 

Mobile banking users have increased by 90% over the last 12 months
November 10th, 2008

Internet banking is very common in Korea. According to the Bank of Korea, the number of registered user in financial institution for internet banking is currently more than 50 million.

>>Read more

  Business in Korea  
 

EA found the Perfect Business Partner in Korea
November 14th, 2008

I am not a huge fan of game though, Korea is famous for its advanced game market, especially in online game. Pearl Research, American consulting firm, forecasts the online games market in Korea will exceed $1.7 billion by 2009, driven by new releases and a fervent gaming culture.

>>Read more

 
   
  More Information  
 

Veyond Partners are always open to your queries, comments or further discussions regarding Korean and global TMT market. If you wouold like to contact to us, please click here.

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