901 Tower Drive • Suite 420 •
Troy, Michigan 48098
• P: 248.269.1122 •
E: bianchipr@bianchipr.com
901 Tower Drive • Suite 420 •
Troy, Michigan 48098
• P: 248.269.1122 •
E: bianchipr@bianchipr.com
The information in this post originally appeared on Public Relations Global Network’s blog.
We are pleased to share the next post in a series of in-depth profiles of key international markets written by one of our PRGN partners.
Faces and Markets of PRGN is a series of blog posts in 2024 that puts Public Relations Global Network (PRGN) member agencies and their markets in the spotlight.
In this next blog post in the series, Grace Haekyung Son of PR House, describes the business and communications environment in South Korea and offers advice on navigating her home market.
Business environment in South Korea
Korea is the world’s 13th largest economy. It is a business hub of innovation and economic vitality, with several thriving sectors such as technology, consumers products, luxury goods, K-contents, travelling, and many more.
1. Korea is a hi-tech economy: Korea is a world leader in electronics manufacturing, shipbuilding, steel, and automotive.
The industries targeted by the Korean Government include healthcare, industrial chemicals, information technology (IT) components, semiconductor manufacturing, aerospace and defense, energy, environmental technology, and transportation.
2. High demand for luxury goods: The high demand for luxury goods in Korea is driven by an increase in purchasing power as well as a youth-inspired culture that emphasizes external appearance and personal grooming.
3. A cultural powerhouse: Over the years, Korea has become a cultural powerhouse and a source of K-pop, K-drama, K-movie and many more new genres.
4. Gen-Z: Many South Koreans in their 20s and 30s have travelled internationally and have substantial disposable income.
Communications, media and PR market in South Korea
While digital media is prevalent, traditional media still holds influence in Korea. Building relationships with local journalists, understanding the media landscape, and crafting tailored press releases can help secure media coverage.
In South Korea, like other countries, social media has come into the spotlight. Naver is an influential local search engine, similar to Google in the global market. Its market share reaches more than 80% of the Korean population. Blogs on Naver, YouTube and Instagram are popular social media channels communicators better watch.
South Korea is also intensely loyal to homegrown Korean social media sites such as KakaoTalk (a free mobile instant messaging app), KakaoStory (a social network platform launched by Kakao, a South Korean internet company) and Naver Band (a private group sharing app).
94.2% of South Korean internet users are active on KaKaoTalk, which is one of the top social media platforms by the number of active users.
Key expertise of PR House in South Korea
Top 3 advice for foreign companies navigating the communications environment in South Korea
1. Cultural Sensitivity: Korea has its own unique cultural norms and values. It’s crucial for foreign companies to be culturally sensitive and understand the local customs, etiquette, and business practices.
2. Language: While English is widely used in business, especially in larger companies, using Korean can enhance communication and build stronger relationships. Translating marketing materials, websites, and communications into Korean demonstrates a commitment to engaging with the local audience.
3. Social Media Presence: Leverage popular local social media platforms such as KakaoTalk, Naver, and local blogging sites. Engaging with the audience on these platforms can enhance visibility and credibility. Consider creating content that aligns with local trends and interests.
Most influential media for consumer communication in South Korea
Most influential media for corporate communications in South Korea
Most popular social media channels in South Korea
Kakao: About 47.8 million South Koreans are active users of KakaoTalk. 90% of South Koreans use Kakao. The number of active users of KakaoTalk stayed consistent. https://www.kakaocorp.com/page/
YouTube: YouTube has 45.5 million South Korean users. YouTube is one of the beloved apps in Korea, now dominates domestic shopping and music markets.
Instagram: There are about 21.2 million Instagram users in South Korea. Male users account for about 45.18% and female users for about 54.8%.
Facebook: The number of Facebook users has decreased and dropped recently to about 20.6 million. It continues to lose popularity year-by-year.
X (formerly Twitter): Twitter has 7.2 million users in South Korea.
LinkedIn: LinkedIn has 3.5 million users in South Korea.
Most important international events in South Korea
March: Summit for Democracy
The third Summit for Democracy is scheduled to take place in March 2024 in Seoul. The theme will be ‘Democracy for Future Generations’. The three-day Summit will feature a range of activities, including a Cohorts, Civil Society and Youth Engagement Day.
May: AI EXPO KOREA 2024
AI EXPO KOREA is the best fit B2B marketing solutions expo for enterprises. Visitors can experience the AI ecosystem of Korea in one place.
September: WSCE2024 (World Smart City Expo)
The World Smart City Expo is a platform for technology exchange that brings together smart city leaders from around the globe to create better cities.
October: 2024 World Volunteer Conference
Since 1970, IAVE has worked with local partners to organize more than two dozen international volunteer conferences across the globe. Volunteers, nonprofits, corporations, and government agencies all come together to strengthen relationships, learn from thought leaders, share best practices, and be energized by how volunteer efforts are improving communities around the world.
For more statistics on South Korea and to download the author’s full bio and market report, click here.
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901 Tower Drive • Suite 420 •
Troy, Michigan 48098
• P: 248.269.1122 •
E: bianchipr@bianchipr.com
