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The Korean market context
Dense, urban and wired
Korea ideal for local internet commerce
High population density and internet penetration
Source: CNN, http://www.citymayor...
US vs. Korean urban markets
Rank City 2005 pop
1 Seoul 10,183,705
2 Busan 3,655,349
3 Incheon 2,590,863
4 Daegu 2,520,679
...
The Korean market opportunity
Revenue projections for top 10 cities
City 2005 pop Online Active emails Total deals per mo ...
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Korean market context - Primary Venture Partners

Korean Internet Market

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Korean market context - Primary Venture Partners

  1. 1. The Korean market context Dense, urban and wired
  2. 2. Korea ideal for local internet commerce High population density and internet penetration Source: CNN, http://www.citymayors.com/statistics/largest-cities-density-125.html; 2006 Point Topic survey (US is 20th); AC Nielson research Population • 48 million • Korea is the 22nd most densely populated country in the world • 47% of population (23 million) lives in Seoul’s metropolitan area • Seoul sixth most densely populated city in the world, New York 114th Internet usage • Fastest internet connection in the world (4 x US) • Highest broadband penetration in the world (83%) • 80% of households connect to the internet at least once a week (59% in US) • 88% of households have a PC (77% in the US)
  3. 3. US vs. Korean urban markets Rank City 2005 pop 1 Seoul 10,183,705 2 Busan 3,655,349 3 Incheon 2,590,863 4 Daegu 2,520,679 5 Daejeon 1,451,792 6 Gwangju 1,402,446 7 Ulsan 1,084,882 8 Suwon 1,034,735 9 Seongnam 984,260 10 Goyang 893,372 Rank City 2008 pop 1 New York 8,363,710 2 Los Angeles 3,833,995 3 Chicago 2,853,114 4 Houston 2,242,193 5 Phoenix 1,567,924 6 Philadelphia 1,540,351 7 San Antonio 1,351,305 8 Dallas 1,279,910 9 San Diego 1,279,329 10 San Jose 948,279 Top 40 cities: 38,237,837 Cities >500k: 19 Pop in >500k: 31,400,573 Top 40 cities: 43,633,592 Cities >500k: 34 Pop in >500k: 40,847,632 US market Korean market Source: 2008 US Census Bureau estimates; 2005 Korean government estimates
  4. 4. The Korean market opportunity Revenue projections for top 10 cities City 2005 pop Online Active emails Total deals per mo Monthly revenue Seoul 10,183,705 8,146,964 651,757 13,035,142 $ 1,042,811 Busan 3,655,349 2,924,279 233,942 4,678,847 $ 374,308 Incheon 2,590,863 2,072,690 165,815 3,316,305 $ 265,304 Daegu 2,520,679 2,016,543 161,323 3,226,469 $ 258,118 Daejeon 1,451,792 1,161,434 92,915 1,858,294 $ 148,664 Gwangju 1,402,446 1,121,957 89,757 1,795,131 $ 143,610 Ulsan 1,084,882 867,906 69,432 1,388,649 $ 111,092 Suwon 1,034,735 827,788 66,223 1,324,461 $ 105,957 Seongnam 984,260 787,408 62,993 1,259,853 $ 100,788 Goyang 893,372 714,698 57,176 1,143,516 $ 91,481 Total 25,802,083 20,641,666 1,651,333 33,026,666 $ 2,642,133 24 mo run-rate revenue $ 31,705,600 Assumptions Population online: 80% Market penetration: 8% Deals per month: 20 eCPM: $80 24 month run-rate revenue projections for top 10 cities in Korea

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