Can We Learn from South Korea?

June 3, 2007

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The magazine Monocle  has a reportage with the titel “Korean convergence” in its latest issue (issue 04 volume 01, june 2007).
I had the country not really on my radar yet. Sorry, my fault! They have impressive figures:
Korea became the first place in the world for legally downloaded digital music to outstrip CD sales – in 2003!
Now downloadsales are three times higher than cd sales.
Mobile phone usage: 90 per cent of the population.
Capital city Seoul has a 100 per cent broadband penetration.
Ninety per cent of Koreans pay less than 15€ a month to enjoy lightning-quick internet speeds whether wired, wireless or mobile.

Also very interesting the market position and strategies of the firm SK Telecom.
SK Telecom is the market leading mobile service provider with a market share of 50,5%.
In the last years they bought the country largest record label, an Korean itunes challenger, a myspace competitor named cyworld (90% of the 20somethings in Korea have a Cyworld account) as well as two of the top korean search engines.

The convergence of conduit and content deliverer?
Is Korea something like a future lab?
I should analyse the market in the next weeks a little bit closer.

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