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Asian Wireless Brief: Korea's Mobile Commerce Trailblazers

  • ID: 39277
  • Report
  • October 2004
  • Region: Asia, South Korea
  • 21 Pages
  • Datacomm Research Company
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With 70% mobile phone market penetration, South Korea's mobile operators are aggressively pursuing mobile commerce. Through trial and error, operators have learned what works and what doesn't. This report documents Korea's m-commerce successes, failures, and lessons learned. Essential reading for anyone involved in business planning in the mobile phone, banking, credit card, or digital content industries.

How Asia's Mobile Phone Operators are Pioneering Emerging Wireless Markets

Creating win-win relationships between mobile phone operators and financial institutions is vital to the success of mobile commerce, and developing applications ordinary consumers are willing to pay for is critical to the success of location-based services.

Korea's Mobile Commerce Trailblazers explains how Korean mobile phone operators worked with banks, credit card companies, and retailers to develop the right micropayment solutions and business models. Pioneers of Location-based Services: Korea & Japan describes the precise combinations of infrastructure and applications needed to ensure LBS success.

Datacomm Research Company is a leader in tracking, analyzing, and forecasting emerging telecommunication markets.

Asian wireless briefs are based on on-the-spot information gathering and analysis from Asia.
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Executive summary: business implications

1. Introduction

2. Korea's micropayment market: characteristics and trends
2.1 'Phone Bill' payment solution
2.2 Mobile banking payment service
2.2.1 SK Telecom's Nemo
2.2.2 KTF's nPayMagic – K-merce Banking
2.2.3 LG Telecom's Bank On
2.3 Smart card-based payment service: "Mobile Card"
2.4 Payment via short-range wireless
2.4.1 LG Telecom's Zoop
2.4.2 KTF's K-merce
2.4.3 SK Telecom's MONETA

3. Trials and errors, lessons and prospects

Figure 1, Micropayment market positioning
Figure 2, 'Phone Bill' service flow
Figure 3, 'Nemo' service concept
Figure 4, 'Bank On' service concept
Figure 5, 'Mobile Card' concept
Figure 6, MONETA business model
Figure 7, 'IrFM' service flow

Table 1, M-payment services offered by Korean mobile phone operators
Table 2, Micropayment usage limits
Table 3, 'Mobile Card' service roadmap
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South Korea
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Note: Product cover images may vary from those shown