The Worldwide E-commerce Boom – Spotlight on the South Korean market

Tap into the third largest e-commerce market in Asia and generate sales success with a Korean website

Following on from our successful Economic Powerhouses series, we’re now looking at how current digital trends are sparking a worldwide ecommerce boom. The popularity of buying on-line is at an all-time high, and businesses must now adapt and develop new methods to maximise the opportunities. As a global channel bursting with potential, when it comes to targeting customers overseas through your website, language shouldn’t be a barrier.

We’ll reveal the latest internet trends in the South Korean market and discover why translating your website into Korean could increase your chance of winning new business fourfold.

Key digital trends in the South Korean market

  • 38.1 million South Koreans (82.5% of the population) will be online by end of 2013
  • Among the fastest internet connections in the world – average speed of 14 Mbps
  • Over 90% of households have broadband access (2010)
  • 75% of South Korean population owns a smartphone

A smart generation of mobile internet users

South Koreans are living in the smart generation. 75% of the countries’ population (27 million people) access the internet via a smartphone, easily besting the average smartphone penetration for developed countries worldwide (currently around 50%).

Make Facebook the focus on your online marketing efforts

In early 2012, South Korea’s original social networking site, Cyworld, was finally overtaken by global juggernaut Facebook. By the end of 2013, it’s predicted that 17% of social media users (6.4 million people!) will have a Facebook account. The site has also caught fire in the business world – 87% of South Korean companies were actively promoting their products and services online.

Take a slice of South Korea’s $1 trillion e-commerce market

South Korea’s e-commerce market, the 3rd largest in the Asia-Pacific region and 10th largest worldwide, grew by 14.5% in 2012 and was worth more than $1 trillion by the end of the year. With over 50% of South Korean internet users regularly purchasing products online, UK business looking to target new markets overseas may just be on to a winner.

Why are the South Koreans 4 x more likely to buy from your website?

Effective communication online is paramount and research shows that internet users are 4x more likely to purchase from a website in their own language (Forrester Research). Targeting the booming South Korean market with a fully localised website may be just the spark your global expansion plans need.

Translation is more than just words

Website translation involves not only adapting your existing website to suit a new language, but also taking local cultures and values into consideration to ensure that your messages are conveyed appropriately. You’ll also need to consider translating and localising your keywords for search engine optimisation (SEO) purposes, and determining the most effective terms for your target market requires a degree of cultural research.

Quite a task indeed, but Comtec is here to support you every step of the way. Check out our top tips to see how we can make the website localisation process go even smoother!

If you have any further questions on how to approach translating your website for new markets, or would like a free translation quote, please get in touch on + 44 (0) 1926 335 681 or email info@comtectranslations.com.

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