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Digital Korea Plus8Star

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Presentation made for CEOs of European publishing companies to discover korea's digital life.

Presentation made for CEOs of European publishing companies to discover korea's digital life.

Published in Business , Technology
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  • 1. Digital Korea Leadership Expedition | European Media CEOs Benjamin Joffe | Plus Eight Star Ltd | January 2008
  • 2. Agenda 0. Introduction 1. Industries under pressure 2. Innovation in Asia? 3. Digital Korea 4. Key players 5. To keep in mind
  • 3. 0. Introduction
  • 4. Benjamin JOFFE 밴자민 저프
  • 5. 4 years 1 year 3 years
  • 6. www.plus8star.com
  • 7. Innovation Arbitrage Mobile & Internet services China | Japan | South Korea
  • 8. The future has already arrived. It is just not evenly distributed yet. William Gibson Science fiction author & father of the cyberpunk genre Coined the term quot;cyberspacequot; in 1982
  • 9. 1. Industries under pressure
  • 10. The 7 Mass Media 1st Media Print 2nd Media Recordings 3rd Media Cinema 4th Media Radio 5th Media TV 6th Media Internet 7th Media Mobile Source: Tomi Ahonen, 2008
  • 11. Transition lessons to Internet Effects will be: • Incredibly rapid cannibalization of content, formats, and audience time • All business models migrating to internet, with new models and formats appearing It will probably also kill some content types. For example: • The daily newspaper • The music CD Very likely other content types will adjust, such as TV debates using YouTube content. Source: Tomi Ahonen upcoming book Mobile is the 7th Mass Media Channel, 2008
  • 12. The 7 Mass Media Music score Print Record, CD Recordings OST Cinema DJ Radio MTV TV iTunes Internet RT, RBT… Mobile
  • 13. CONSULTING News websites Expert blogs White papers …
  • 14. FASHION! Fashion shows Mobile & Internet broadcast Made in [far-distant countries] And fashion publishing…
  • 15. PUBLISHING Free websites (incl. NYT) Ad pages Classifieds
  • 16. JOURNALISTS Low wages Tight deadlines Editorial cut
  • 17. At one point my boss told me “your experience is getting in the way”. Today, as a blogger I can pursue topics I care about and have more influence than when I was with CNN. Former Head of CNN Asia
  • 18. So what can we do?
  • 19. Web 2.0? Consulting 2.0 Fashion 2.0 Publishing 2.0 Journalism 2.0 Media 2.0
  • 20. 2. Innovation in Asia?
  • 21. General assumption #1 Everything from the US is great
  • 22. General assumption #2 Everything from Asia is weird (and sometimes funny)
  • 23. Japanese like texting on mobile Because they have small fingers Anonymous manager at a telecom company in 2000
  • 24. Asians like avatars Because they read mangas and watch animes Anonymous manager at an Internet company in 2005
  • 25. Chinese like ring-back tones Because they go to KTV a lot Anonymous manager at a foreign media company in 2006
  • 26. Giving the wrong explanation to the right question
  • 27. Make fun Stereo Oblivion type The Not-Invented-Here Circle of Oblivion Self- Re- evident invent Adopt CC | +8*
  • 28. C2C?
  • 29. Copy-to-China
  • 30. Why look at Asia?
  • 31. 1 Because some Asian markets are strategically important
  • 32. Official partner of Chinese Web2.0 fundraising since 2005
  • 33. Alexa School of Investment Quiz
  • 34. Crowdsourcing Quiz Which Asian Internet services do you know?
  • 35. Global China Japan South Korea 1 Yahoo! 2 Google 3 YouTube 4 MSN 5 Windows Live 6 MySpace 7 Facebook 8 Wikipedia 9 Hi5 10 Orkut
  • 36. Global China Japan South Korea 1 Yahoo! Yahoo Japan 2 Google Yahoo 3 YouTube Google Japan 4 MSN Google YouTube 5 Windows Live 6 MySpace Google Korea 7 Facebook YouTube 8 Wikipedia Livedoor 9 Hi5 Yahoo Wikipedia 10 Orkut
  • 37. Global China Japan South Korea 1 Yahoo! Yahoo Japan 2 Google Yahoo 3 YouTube Google Japan 4 MSN Google YouTube 5 Windows Live 6 MySpace Google Korea 7 Facebook YouTube 8 Wikipedia Livedoor 9 Hi5 Yahoo Wikipedia 10 Orkut
  • 38. Global China Japan South Korea 1 Yahoo! Baidu Yahoo Japan Naver 2 Google QQ FC2 Yahoo 3 YouTube Sina Google Daum 4 MSN Google YouTube Cyworld 5 Windows Live Netease Mixi Nate 6 MySpace Taobao Rakuten Google 7 Facebook Sohu Nicovideo YouTube 8 Wikipedia Tom Livedoor Empas 9 Hi5 Yahoo Wikipedia Gmarket 10 Orkut 56.com Goo Auction
  • 39. Global China Japan South Korea 1 Yahoo! Baidu Yahoo Japan Naver 2 Google QQ FC2 Yahoo 3 YouTube Sina Google Japan Daum 4 MSN Google YouTube Cyworld 5 Windows Live Netease Mixi Nate 6 MySpace Taobao Rakuten Google 7 Facebook Sohu Nicovideo YouTube 8 Wikipedia Tom Livedoor Empas 9 Hi5 Yahoo Wikipedia Gmarket 10 Orkut 56.com Goo Auction
  • 40. 3. Digital Korea
  • 41. Broadband country France South Korea Japan China Population 61 million 49 million 127 million 1.31 billion GDP (billion €) 1,490 620 3,400 1,020 GDP/Capita PPP 20,800 € 11,500 € 22,900 € 1,600 € Internet users 35 million 35 million 88 million 200 million Broadband subs 15 million 15 million 28 million 52 million Penetration 24% 30% 21% 4% Sources: ARCEP, MIC, TCA, MII, CIA World Fact Book, Internet World Stats
  • 42. The fastest broadband connections are in Korea and Japan. Thanks to fiber optic cables the broadband connections in Japan were up to 10 times faster than the OECD average. Japan also had the lowest relative monthly broadband charges/Mbps OECD Report, July 2007
  • 43. Price/month Households Avg. speed for 1 mbps, Overall # Country subscribing (mbps) fastest tech. Score (USD PPP) 1 Korea 0.90 45.6 0.45 15.73 2 Japan 0.52 61.0 0.27 14.99 3 Iceland 0.83 6.0 4.99 12.14 4 Finland 0.57 21.7 2.77 12.11 5 Netherlands 0.73 8.8 4.31 11.87 6 Sweden 0.49 18.2 0.63 11.54 7 France 0.49 17.6 1.64 11.41 12 US 0.51 4.8 3.33 10.47 Source: OECD, 2007
  • 44. Consequence #1 Internet penetration and speed
  • 45. Consequence #2 Internet literacy
  • 46. Consequence #3 Internet as a retail channel for material, immaterial goods and human intelligence
  • 47. “Ubiquitous” Korea Online services Navigation systems e-Commerce e-Government Intelligent home Intelligent objects (tagged and connected)
  • 48. “Ubiquitous” Korea Convergence & pervasive technologies
  • 49. Quoting „Digital Korea‟ (by Tomi Ahonen, August 2007) 1. Over 50% citizen use Internet banking 2. 63% use mobile phones for payment 3. 25% of all Visa cards are provided by mobile phone 4. m-commerce transactions for non-telecom goods exceeded $1bln in 2006 5. 73.6% filed taxes online as of January 2006 6. Electronic Signature Law and e-Commerce Law
  • 50. And more! Online game market is 57% of the total game market in Korea (5% in US, 2.5% in Japan, shifting to online) Source: Game White Paper 2007
  • 51. Two? Online Newspaper Associations
  • 52. Source: NYT, 2007.11
  • 53. Are we so different? China Takes unique steps to combat web addition (China) USA Today | 2005.7 Internet addiction more serious than OCD (Israel) United Press International | 2007.8 Computer addiction: What is it? (USA) Psychiatric Times | 1998.8
  • 54. “US full of Internet addicts” Study from Stanford Faculty Breitbart.com | 2007.10
  • 55. Rich media demand
  • 56. Ad spending shift
  • 57. Technology trends for 2008 Korea Times | 2008.01.14
  • 58. Global ranking search engines (ComScore, 2007.10) Rank Engine Reach PV #1 Google 750 million 37 #2 Yahoo 750 million 8.6 bln #3 Baidu 200 million 3.3 bln #4 MSN 750 million 2.2 bln #5 Naver 35 million 2.0 bln #6 eBay 750 million 1.3 bln
  • 59. Cyworld Syndrome Transition of Internet icons 1996~1998 1999~2001 2002~2003 2004~2007 FreeChal Cyworld Yahoo Korea Daum Cafe Damoim¹ Naver Text Based Interactive space Personal Resource Planner² Open Community Simple search School Network Multimedia Portal
  • 60. Cyworld Syndrome From Information-centric to Human-centric New model led by 1st generation’s model Cyworld
  • 61. “In a connected age, sharing information is power” Tomi Ahonen
  • 62. 4. Key players
  • 63. Services 18 million users Internet portal Internet portal Instant messaging “Easy to study” Blogging service
  • 64. Services
  • 65. Key figures Market Cap 7.3 billion EUR Employees 2,086 3Q2007 170 million EUR 2007 650 million EUR Operating profit margin >40%
  • 66. Search
  • 67. Display ads
  • 68. E-commerce
  • 69. Online games
  • 70. Services
  • 71. Key figures Market Cap 702 million EUR Employees 1,723 3Q2007 108 million EUR Operating profit margin 7.4%
  • 72. Online and offline life permeate each other
  • 73. New hybrid form Online + Offline = Life
  • 74. Citizen media
  • 75. Web 2.0?
  • 76. How about those concepts? Meta-blogging Content scrapping Social Process Re-engineering Trust-based information sharing Personal Resource Planning (PRP)
  • 77. 5. To keep in mind
  • 78. 1 Are you the target?
  • 79. 2 Look for concepts Adapt the rest
  • 80. Thanks! benjamin@plus8star.com +86 1371 880 3321 Skype: benjamin0123
  • 81. Appendix
  • 82. About +8* About +8* The future has already arrived. It is just not evenly distributed yet. William Gibson Science fiction author & father of the cyberpunk genre Coined the term quot;cyberspacequot; in 1982 The company Our focus • [+8*] (Plus Eight Star Ltd.) is a consulting boutique • „Innovation Arbitrage‟: bridging differences in market operating from Beijing, China maturity worldwide, using Asia as a source • To learn more about our name, please visit our site at •Strategic consulting on best practices in mobile and Internet www.plus8star.com! services in China, Japan and South Korea Our services Local expertise and global perspective • Provide strategic analysis to operators & content providers • Multicultural team covering the 3 markets to anticipate their markets • Hands-on experience with local companies • Bring best practices in business models, service design • Large network of contacts and marketing to Internet and mobile companies to • Cross-market & cross-cultural awareness accelerate their business • Other services range from M&A advisory, market entry, partners identification to negotiation support Co-Founder & Organizer | Mobile Monday Beijing Managing Director | Benjamin Joffe • Leading Information and networking event related to mobile • 8 years in Japan, Korea and China services in China, part of the Mobile Monday global network. • Tel: +86 1371 880 3321 • 17 sessions since March 2006 • Skype: benjamin0123 • 2000+ members, 50+ presentations • Email: benjamin@plus8star.com • www.mobilemonday.cn Mobile & Internet © Copyrights 2008. All rights reserved. www.plus8star.com Innovation Arbitrage
  • 83. “Inside Cyworld” Report | December 2006 • Cyworld is also very relevant to you – A broadband country since the late 90s, South Korea is today enjoying super-high speed broadband and its society has evolved accordingly, making Korea today the most „Internet literate‟ country on the planet and a perfect laboratory for new broadband Internet services. – Among Korea‟s success stories, the online community Cyworld has been the shiniest star: over 30% of South Korea‟s population, and 90% of Korean netizens in their 20s have a personal page on the service. • What you will learn – The critical elements that made Cyworld a success – The money-making services and payment systems generating 200 million USD – Original services that could help differentiate and plan some great innovations! • Content – 190 slides with visual analysis & interviews | PDF License : 2,000 USD Mobile & Internet © Copyrights 2008. All rights reserved. www.plus8star.com Innovation Arbitrage
  • 84. “Inside QQ” Report | January 2008 • First, Tencent is China‟s largest IM service (270 million accounts vs. MSN‟s 250 million) and casual gaming portal. • Second, Tencent‟s revenues will be in excess of 400 million USD in 2007, most of it coming from non-advertising services. – What are those services? – How can they make users pay for Internet services? – What are the successful business models at work to achieve such results? • Third, for numerous Chinese users, QQ is synonymous with Internet – What is the social impact of QQ? – What kind of economy & ecosystem are being created? • Last, Tencent is considered as China‟s greatest Internet success – What are Tencent‟s latest strategic moves? – What is their ambition for overseas markets? • Content – 185 slides with visual analysis & interviews | PDF License: 3,000 USD Mobile & Internet © Copyrights 2008. All rights reserved. www.plus8star.com Innovation Arbitrage