The winner-takes-it-all accelerates in Korean web service market
Web 2.0 | 2007/10/31 00:32 | Web 2.0 Asia
(Via Chosun Ilbo) One of the current trends of the web is what's called "de-portalization", with widgets and other technologies enabling "edge" activities. But recently, Korean web is becoming more "portalized", meaning internet services are fast becoming commoditized with very clear top 3 players and few breakthrough new services aiming to upend the incumbents.
Mr Yoo, the CEO of Korean Click (a leading web stats company in Korea), recently gave a presentation about this trend. Mr Yoo said that the emergence of game-changing new web services have more or less ceased over the last three years. After Daum email (1997), Daum cafe (a web BBS) (1999), Cyworld (2001), Naver Knowledge iN (Q&A service) (2002), Naver Blog (2003), there have not been other "smash-hit" services with over 50% reach.
So this means that three years ago most Koreans used Daum cafe, Cyworld, Naver Knowledge iN, etc. ; Today most Koreans still use Daum cafe, Cyworld, Naver Knowledge iN, etc.
So which service will be the rainmaker to end this 3-year drought of massive web innovation in Korea? Naver-ization leads to monoculture, which isn't necessarily good. Whichever service the rainmaker might be, I'm sure it will rise on the fertile ground of entrepreneurship.
Mr Yoo, the CEO of Korean Click (a leading web stats company in Korea), recently gave a presentation about this trend. Mr Yoo said that the emergence of game-changing new web services have more or less ceased over the last three years. After Daum email (1997), Daum cafe (a web BBS) (1999), Cyworld (2001), Naver Knowledge iN (Q&A service) (2002), Naver Blog (2003), there have not been other "smash-hit" services with over 50% reach.
So this means that three years ago most Koreans used Daum cafe, Cyworld, Naver Knowledge iN, etc. ; Today most Koreans still use Daum cafe, Cyworld, Naver Knowledge iN, etc.
So which service will be the rainmaker to end this 3-year drought of massive web innovation in Korea? Naver-ization leads to monoculture, which isn't necessarily good. Whichever service the rainmaker might be, I'm sure it will rise on the fertile ground of entrepreneurship.
