Korean is spoken by about 70 million people, making it the 13th most spoken language in the world (source: http://www.vistawide.com/languages/top_30_languages.htm).
For most companies, Korean is not a first priority. At present North Korea doesn’t have much potential but things could change. Basketball diplomacy has already started as you can see in the video below.
However South Korea has a very highly developed hi tech industry which makes it attractive to many B2B companies.
Unfortunately, the major Korean search engine – Naver – does not do a good job of showing foreign companies in their SERPS. And Google has an extremely small market share in Korea. For hi tech B2B searches it no doubt, does somewhat better. Nevertheless, appearing in Naver can give companies an extra edge over the competition.
Naver SERPS are very interesting and only a small portion is devoted to traditional organic results. For a B2B niche product, Naver ads may be the easiest strategy. Especially if the keywords have double meanings and there is a lot of competition.
In a future post I will go over the Naver SERPS in more detail.