The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMay 2020
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South Korea is one of the top countries in terms of digital connectivity, with internet users accounting for more than 95% of the population and 100% of mobile phones with internet access, which makes the country one of the most important digital consumer markets in the world. Internet infrastructure and broadband penetration in South Korea are already well developed and mature.
Fixed broadband penetration is also very high in South Korea such that smart appliances are becoming more popular and easier to be installed compared to other countries. The two largest consumer appliance manufacturers in South Korea are investing more in smart appliances such as smart air purifiers and air conditioners which can automatically detect and control the quality and temperature of the air.
South Korean consumers heavily use mobile devices in their daily lives supported by well-developed mobile connectivity infrastructure. It is very common for South Koreans to use their smartphones everywhere and whenever they have spare time, as many public places such as public transportation, government entities and private institutions including banks and retail stores provide free Wi-Fi zones.
Since 5G launched in April 2019, the number of users is rapidly increasing, as Samsung’s 5G mobile phones such Galaxy S10 and S20 have proved popular and telecommunication companies have actively introduced 5G plan packages. As Apple is also expected to introduce a 5G mobile phone later in 2020, the number of users is expected to increase further.
While SK Telecom, KT and LG UPlus are the three largest telecommunication companies in South Korea, smaller companies with budget plans are entering the market to target budget consumers in South Korea. Not only those businesses under the large companies such as KT M and SK 7, but also various players are taking to the field.
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Overview
Discover the market trends as it relates to the Digital Landscape in South Korea with research from Euromonitor’s team of in-country analysts.
Explore the digital readiness of consumers in South Korea in order to strengthen your strategies for this tech-first era.
If you are in consumer-facing industries, our research will save you time and money by empowering you to make informed, strategic and profitable business decisions.
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This report originates from our Digital Consumer market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.