"Missionaries of K-Pop" Google+, E-bay, Facebook Create Services Related to Hallyu!

A variety of websites including those that are dedicated to social networking are creating services specifically related to K-Pop in order to increase their quality and value after realizing the sudden rise of Hallyu.

Internet sites like Google+, Facebook and E-bay are few of the well-known websites that have created services directly related to K-Pop. Ironically, the largest demand of K-Pop products is from international fans.

Within Google+, a "K-Pop Hub" was created that allows fans located anywhere in the world to communicate with each other through video conference to discuss the latest news regarding their favorite K-Pop stars.

Also, a YG Entertainment internet shopping mall within the E-bay Korea website was created early in June that is completely dedicated to products related to K-Pop. YG Entertainment is the first entertainment agency from Korea to open an official online shopping mall on E-bay.

When the first day's sales records of over 1,000 online shopping malls were compared, the "YG Store" had set a new record with the most number of sales on their first day of opening. On their very first day, the "YG Store" alone pulled in approximately $12,000 USD from selling items like Big Bang's and 2NE1's CDs as well as a variety of different T-shirts.

After the careful analysis of the sales report, representatives of E-bay proposed a request for an official establishment of a specific section of E-bay dedicated to K-Pop only.

Currently, there is an unstoppable wave of "K-Commerce" sweeping through the online market globally. The term "K-Commerce" was created by combining the terms "eCommerce" and "Korea." The idea behind the term "K-Commerce" is creating a market system based on the characteristics of Korean work/service ethics designed to specifically provide products related to Hallyu.

For example, the emphasis will be placed on updating up-to-date information of new products as well as significantly increasing the speed of delivery, which is predicted to increase the value of the products leading to the eventual increase in the quality and value of the company itself.

In 2008, the profit of all the Korean shopping malls established as part of E-bay Korea combined was reported to be approximately $17 million USD just from international sales. In addition, analysis showed that the profit consistently increased by 60% to 100% each year. This year alone, the total sum of profit made from international sales alone has been estimated to be over $250 million USD.

Lim Ji Hyun, the department head of CBT team of E-bay, created to guide Korean sellers in making international deals, stated, "Korean sellers have always received positive feedback for their detailed explanation of products as well as the quality of their service."

Tags
YG Store
K-Pop
google
E-bay
Facebook

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