Tag: south korea

SoftBank invests in South Korean mobile commerce firm

| June 8, 2015

SoftBank to invest $1 billion in Coupang

Japanese mobile operator SoftBank has announced that it intends to invest $1 billion into South Korea’s largest mobile commerce firm, Coupang. This would represent the largest Internet investment that has been made in South Korea’s history and will provide Coupang with the financial support it needs to compete with other mobile commerce organizations. SoftBank has not disclosed the size of the interest it will acquire in Coupang and the South Korean company will continue to operate of its own accord.

Company seeks to expand beyond the borders of Japan

In 2013, SoftBank successfully acquired Sprint, which may have been the company’s first step toward expanding beyond Japan. The latest investment may be another step toward this endeavor, with SoftBank beginning to show significant interests in mobile markets in other parts of the world. SoftBank has also increased its stake in Supercell, a Finnish company that develops mobile games. Mobile commerce may be part of why SoftBank is beginning to expand, as this sector represents a significant degree of financial promise.

Mobile commerce could be a promising opportunity for some companies

Softbank - Mobile Commerce DealMobile commerce has grown quickly throughout the world, with this growth being powered by the increasing number of mobile consumers. As more people gain access to smartphones and tablets, they are beginning to shop with these devices, opting to use their devices to purchase products that they are interested in. Companies like SoftBank could have a lot to gain by engaging in the mobile commerce space, but it will have to compete with other companies that want to establish a dominant position in this market.

Coupang will be able to compete more aggressively in the mobile commerce sector thanks to investments

Coupang will continue to play a role in South Korea’s thriving mobile commerce market. The company has already established itself as a leader in this market, but it will have to continue offering favorable services to consumers in order to maintain this position. In the coming years, South Korea, as well as Japan, may become the most prominent mobile commerce markets in the world.

South Korean mobile commerce is growing quickly

| March 6, 2015

Mobile commerce is experiencing strong growth throughout South Korea

Mobile commerce in South Korea is expected to experienced rapid growth in the coming years. The Boston Consulting Group was commissioned by Google Korea to examine the country’s mobile commerce sector. The report produced by this examination shows that South Korea is becoming a prominent market for mobile payments, with more consumers opting to shop for and purchase products online and in physical stores with their smartphones and tablets.

Report predicts that the mobile economy will account for 10% of South Korea’s GDP by 2017

The report shows that South Korea’s mobile Internet economy reached $28 billion in terms of revenue in 2013. This accounts for 2% of the country’s gross domestic product. By 2017, mobile commerce is expected to account for 10% of the country’s gross domestic product, reaching the $40 billion revenue point. There are many factors contributing to this growth, but the mobile application and content industry is expected to help power growth in the mobile commerce space.

Mobile marketing is also on the rise, as more consumers rely on their smartphones and tablets

Mobile Commerce - South KoreaAs mobile commerce continues to grow, many companies are expected to place more focus on mobile marketing. More consumers are beginning to rely on their mobile devices for more than just communication. These consumers are constantly browsing social media sites and consuming content through their devices. This makes them attractive targets for advertisers that want to engage a mobile audience. Mobile marketing can help power the growth of mobile commerce by exposing consumers to products that they may be interested in purchasing online.

Consumers would give up basic luxuries in order to keep their mobile devices and access to the Internet

According to the report from the Boston Consulting Group, some 75% of South Koreans would give up newspapers, chocolates, and fast food in order to continue accessing the mobile Internet. Many people would give up what they consider basic luxuries just to keep their mobile devices. This may be good for mobile commerce, which will continue to grow as consumers become more involved in their mobile devices.