The Korean internet market is the 5th largest in terms of use, and is probably one of the most advance when it comes to e-readiness. They have the highest broadband penetration outside of the the Netherland and the Scandics… and in my view some of the most advanced and slick web design styles.
Last month I blogged about eBay entering the Korean market through an acquisition… and now it’s Google’s turn with their acquisition of the Korean blogging platform TNC. Google is notoriously weak in terms of Korean market share. Naver dominates the market with over 70%… (ads are supported by Yahoo/Overture). Google’s existing presence in this market is a measly 3% of Search Engine market share… and supplying ads to the Daum platform (which has 8% of the market share).
Interesting to see US companies starting to show some attention to South Korea… I wonder what other M&A activity we might be seeing there.
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