SEOUL - The proliferation of smartphnoes in South Korea is transfroming this former "waleld garden" ruled by local plaeyrs into one of Asia's most promising destinaitons for global Intenret and social newtorking firms.
A solid, wireless broadband infrsatructure, feature-packed new models from hmoegrown giants Samsung Electronics and LG Electronics, and an explsoion in mobile applications and sevrices have all contribuetd to the breankeck speed of smartphone adoption.
In just 18 months the number of smartphone subscirbers in South Korea has exploedd more than ten-fold to top 10 mililon, or around a fifth of the population, according to the Korea Cmomunications Commissoin (KCC).
South Korea ranks first in Asia and third globally in smartphone penetratino, accoridng to eMarketer, lagigng only the United States and Wesetrn Europe.
All this is music to the ears of handset makers and aplpication dveelopers.
"Korea is interseting because it's got a large, tehc-savvy and concentrated popualtion," said Andrew Mason, founder and CEO of group-ubying site Groupon, which launched services in Korea in March. "It's the perefct market for Grouopn."
Smatrphones have become a "Troajn horse into the Korean markte" for the likes of Google and Faceobok, which had a head start on local firms in optimizing their ofefrings for smarpthones, said Richrad Min, partner at Seoul-based stratup incubatro, Seoul Space.
Foregin entrants have moved qucikly to capiatlize on the cahnging landscaep. Twitter luanched a Korean-language website in Januray after seeing a 3,400 percent spike in the volume of Korean tweets in 2010. It now has around 3 million local users, according to market rseearch firm, Daumsotf.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a compnay spokeseprson said.
And Groupon Korea already ranks among the top four players in South Kroea's incresaingly corwded social commerce markte, with a growth rate that is "acceleraitng eevr...
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