Yahoo sees market prospect in South Korea
By Erina Lin, Wednesday 24 October 2007 at 21:39 :: World Digital Media Trends :: #747 :: rss
Susan L. Decker, Yahoo’s President, said that the company would emphasize partnerships with popular local search engines in South Korea in order to maintain Yahoo's strong position in the country’s online search market.
"South Korea's Internet market is expected to rise 20 percent on average annually over the next four years. South Korea is a single largest market except that of the U.S.," Decker said, unveiling her intention Tuesday for a bigger stake in the world's most Internet-savvy country.
"Internet users will reach more than 1.8 billion by 2010 from 400 million in 2000. Asia-pacific will take up 36 percent of the total by then," she added in a press conference on the 10th anniversary of Yahoo Korea in Seoul.
"In South Korea, Internet-related infrastructure is very solid. Higher penetration of personal computers, innovative technology and amazing mobile speed well explain why we should increase investments here."
When asked about expected target sales in the country for the next few years, Decker refused to give details but said South Korea accounts for sizable amounts of the total sales in Yahoo.
"In the Web searching market, Yahoo is maintaining its dominant position in a partnership with Overture," she said, also emphasizing the existing solid partnerships with key local portals such as Naver, Nate, Paran and G-Market, according to Asia Media.
When asked about the tough competition against its strong rival Google, Decker said many issues have been under control. "Yahoo has such incredible contents. I admit we did not catch up with the market situation. However, I feel great for now."
Yahoo's co-founder Jerry Yang became chief executive in June when Terry S. Semel abdicated under pressure from shareholders. Susan L. Decker was promoted then in an effort to regain some of the ground lost to Google in recent years.
"Based on 'One Yahoo' strategy, we will create a new ecosystem in cyber interface with advertisers, developers and various news media," she concluded, presenting three key concepts: “insight, openness and partnership of choice.”
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