Geek Meets Chic

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[Re-post] 5 tips for S’poreans to get employed in Korea: Student Edition

Originally written for The Mothership.sg

Landing a job in Korea is no easy feat, but it is definitely not impossible.

The golden question I most often get asked is: “How do I get a job in Korea?”

Here are 5 tips for Singaporean students looking to secure direct employment in Korea.

Tip 1: Plan ahead

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Sounds commonsensical?

You’ll be surprised how many people have not taken steps to be employable as a foreigner even though they claim they are dreaming of moving there.

By the way, being able to name all the members of Girls Generation does not constitute preparedness.

As a start, ask the following:

What are the industries or companies I am looking to enter?

Industries are particularly important because while conglomerates in the tech industry are open to hiring foreigners to assist with global expansion for example, other more conventional industries like pharmaceuticals or healthcare are not as penetrable for foreigners.

You don’t want to waste your time banging your head against a wall.

Am I flexible with the job options extended to me?

You need to be aware of your expectations – are you open to taking a lower-paying job despite your skill-set or a job that is not aligned with your career aspirations?

Depending on your expectations, the opportunities that you seek may not come so easy. It is tough to secure jobs in Korea fresh out of school and without work experience.

To know which steps to take to achieve your goal, you need to do your research to ascertain potential routes.

Do you need an internship, an advanced degree in Korea or need time to brush up your Korean?

Clearly, these cannot be done overnight – meticulous planning is essential.

Tip 2: Train your “Korean-ness”

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To appeal to recruiters in Korea, you need to be seemingly “Korean” while demonstrating that you can bring local knowledge of your region to the table.

While “diversity” is slowly being accepted, Koreans appreciate it when non-Koreans exhibit the ability to adapt and assimilate to the Korean culture.

There are 2 things you can do to accentuate “Korean-ness”:

1. Mastery of the Korean language and its nuances

The former is a no-brainer. Many Singaporeans studying or working in Korea are masters of the “Test of Proficiency in Korean”. To distinguish yourself, pick up business Korean as well.

Most importantly, with fluent Korean, you leave a more lasting impression.

Due to the Korean Wave, many people who are well-versed in Korean from around the world seek employment opportunities in Korea. Your competition is global.

If you are aiming for office transfers to headquarters in Korea, fluency in Korean exhibits a sense of readiness too.

2. Expand knowledge of Korea beyond popular culture

Having a keen awareness of Korean sociology, politics and economy will set you apart.

With many Korean news outlets offering English equivalents, it is easy to develop an understanding of numerous aspects of Korea aside from entertainment.

Your familiarity with current affairs in Korea will be very useful in helping you partake in conversations with older Korean folks, at networking sessions or even during interviews.

Tip 3: Network AND keep in touch

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Korean exchange students in your school the best people to practice your sub-standard Korean with, pick up idiosyncrasies about the Korean culture and train your tolerance to soju.

One sub-tip: Once you befriend a couple of Korean students in your school, it is easy to meet the rest of the exchange delegation.

Korean students living in foreign countries usually form a tight network so by tapping on one, you can cultivate a new group of “chingus”!

Having Korean friends keep you in the loop about employment trends and opportunities.

I got my internship with SK Telecom in Korea because my Korean friends alerted me to the recruitment, without which I would not have known about the opportunity.

While networking is easy, keeping in touch and continuing the connection is the difficult part.

Koreans celebrate holidays like Seolnal (the lunar New Year), Chuseok (Korean thanksgiving) or even Christmas – drop a note filled with warm greetings via Kakao or email.

The key to building lasting relationships with Koreans is embedded within the word “jeong” (the closest English equivalent being “affection”).

The greater the “jeong” in a relationship, the higher the likelihood of a Korean friend going out on a limb for you.

TIP 4: Work for a Korean company in Singapore

While this is a strategy that requires time, patience and effective networking within the organisation, it is one of the ways some Singaporeans have managed to transfer to headquarters in Korea.

In my case, I got scouted to work in Korea by a former partner with whom I was on a project with back in Singapore.

After he was invited to lead a team in another Korean company, he recruited me to join the company.

Korean conglomerates are also known to send employees in regional offices to headquarters for extended periods of time for training or projects – a form of “employee exchange programme”.

This is also a plausible strategy if you are not sure whether to take the plunge and move to Korea for work or if the Korean corporate culture suits you.

Nonetheless, working for a Korean company gives you a foot in the door to seize internal transfer opportunities that are not unknown otherwise.

Most importantly, always give your best – Koreans can be the harshest critics.

TIP 5: Don’t give up

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Securing an opportunity to work abroad requires patience, dedication and optimism.

It took me 3 years studying Korean to secure my first internship stints with Korean organisations, followed by a year in Korea as an exchange student.

And 5 years before I got my first full-time job with a Korean conglomerate.

It was my 7th year of obsession with Korea when I got headhunted to work in the land of the morning calm and fulfilled my goal.

[canaryellen]

[Re-post] A S’porean lady explains how going to work in Korea was an act of defiance that paid off

Originally written for The Mothership.sg

It all started with Winter Sonata.

Many people consider leaving Singapore to work overseas to be a major decision. And all big, difficult decisions are usually sparked off by something dramatic, right?

Well, it was certainly not the case for me.

I left Singapore in 2010 and relocated to Korea to work. I haven’t looked back since.

1. You don’t need an existential crisis to move out of Singapore

My first experience with Korea and its popular culture was 14 years ago. Autumn in my Heart was broadcasted on Singapore’s Channel U in 2000.

The life-changing moment, however, was when Winter Sonata and the Bae Yong Joon craze swept through our tiny little island, igniting the “ahjumma” (“auntie” in Korean) in me.

This fuelled a desire to understand the intricacies of Korea beyond kimchi consumption and union demonstrations. Secretly, I also really wanted to know how the ladies look so good all the time.

With Bae Yong Jun of Winter Sonata fame

The deeper I dwelt, the greater the bond I formed with Korea.

It was as simple as that. To learn about the country, I took Korean lessons and mastered the language. While I was in university, I made friends with Korean students, which expanded my knowledge of Korea beyond melodramatic plots in dramas. I got interested in the Korean economy and politics, and became well-versed in the Korean culture.

During my student exchange programme to Korea University, I had the opportunity to intern at two Korean tech organisations. With my interest in the tech industry, and Korea as an emerging tech superpower (think LG, Samsung, Nexon, Kakao), I was certain that Korea was to be the platform to get my career off the ground.

Volunteer work as an intern with SK Telecom in South Korea

I had the good fortune to embark on a corporate adventure with one of the largest technology companies in Korea. It was a transformational experience, to say the least.

2. Moving to Korea was an act of defiance

One of the most frequent questions I get asked as a foreigner working in Korea is “Why Korea?” Though I am usually too embarrassed to reveal that it REALLY started with Winter Sonata, there are a couple of good reasons to explain my chosen path.

I am a natural procrastinator, but surprisingly, learning the Korean language was one of the easiest and fastest decisions I ever made and acted upon. It was as though it was second nature.

Family and friends assumed that my Korean drama obsession was getting the better of me. My parents even dissuaded me from learning Korean. They wanted me to learn Japanese instead.

Friends were skeptical when I told them I wanted to move to Korea eventually.

“Will the companies hire you? You’re not Korean,” they said.

My parents and extended family thought that heading alone to Korea as a girl was just unacceptable. Korean men, in particular, were regarded to be chauvinistic and they anticipated glass ceilings that I would face.

But it was these signs of disapproval that stirred up the rebel in me. I was made even more determined to achieve my goal.

Ironically, It is a different scenario when I return home today, with aunts coming up to me remarking, “I was watching that Korean drama that day. Woah, the actress so pretty leh! You know any good place to do eye lift/ botox/ skin pigmentation removal in Korea or not?”

My relentless pursuit to take the path less trodden has paid off. And I think my parents are secretly proud of me.

3. Being Singaporean has its advantages

I live by the adage “Growth and comfort do not coexist”, taken from one of my role models, Ginni Rometty, CEO of IBM.

The idea of working in Korea, a country that had her own distinctive language and culture, was exhilarating.

While it was daunting knowing that I could potentially be ostracised in a relatively homogenous society, I anticipated opportunities for a unique career progression and personal growth. To fulfil my aspirations, I strived towards gaining employment in a tech company in Korea (a journey to be shared in detail in a future post).

And I knew my strengths.

Being Singaporean, I was effectively bilingual in English and Mandarin Chinese. And given my ahjumma inclinations and appetite for Korean dramas, I became naturally proficient in Korean. Though it was unexpected, my ability to speak different languages positioned me to be the liaison between the headquarters in Korea and our global offices in the United States, China and even India.

Plus, coming from a multi-racial country like Singapore, it was also easier for me than my Korean colleagues to effectively communicate, interact and empathise with colleagues of different ethnicities from around the world.

After work ramen with colleagues in Silicon Valley

I’ve been given access to the complex inner workings of a global conglomerate. From witnessing the assembly of mobile phones to negotiating with global partners and executing large-scale marketing events, I was in awe.

Speaking to friends back home in Singapore, it has become evident that the exposure that I’ve have been given was extremely valuable.

But that said, I had to endure late nights, crazy and sometimes lonely international travel and never-ending project deadlines.

Would I trade this experience for anything else? No way.

Where’re the doughnuts? Posing with NYPD on a business trip in New York City

I’ve since left this organisation, but once in a while when I am greeted with an advertisement of its latest product on a billboard, I can’t help but smile as I recall all the life-defining moments there.

Ex-colleagues have become mentors and friends, and many will continue to be part of my life as I embark on my next adventure. My time in Korea, reminiscent of the many Korean dramas that have kept me at the edge of my seat, has been exciting, sometimes melodramatic but always with a tinge of nostalgia and romance.

[canaryellen]

[Re-post] Synrgic – the Next Xiaomi of Asia?

Originally written for Startup Tree

I peered through the busy crowd and spied a young lad dressed in a checkered shirt and jeans. Coupled with a backpack and a mobile phone in one hand, he would not have looked out of place at a university.

Meet Suan Jin Cheo, the fast-talking 26-year-old founder and CEO of Synrgic, a Singapore-based startup that was established back in 2009. The company started with manufacturing tablets; today, it has joined the competitive, bloodthirsty arena of creating possibly the hottest consumer product this century – mobile phones. Suan Jin is no stranger to Korea since Synrgic’s latest offering, the Uno is produced here. Yet, in true Korean hospitality, I was obliged to feed him with galbi (grilled beef) so that I could also grill (pun intended) him with endless questions about his entrepreneurial journey.

Synrgic CEO & Founder – Suan Jin Cheo (Source: TechieLobang)

The Synrgic Uno

At the end of April this year, Synrgic kick-started its foray into mobile phones again with the Synrgic Uno. “Uno”, basically meaning “one” in Spanish is a 4.7-inch smartphone with HD IPS Gorilla glass display running on the Android Ice-Cream Sandwich operating platform. What is interesting is that Synrgic did not follow the conventional route of using chipsets from dominant makers typically associated with OEMs, but instead chose TI’s (Texas Instruments) dual-core 1.5GHz OMAP 4470 processors (including 1GB DDR2 RAM and SGX 544 graphics chip) to power the phone. It also went against the grain by maintaining the native Android user interface for a “pure Android experience”, claiming that this will keep the smartphone free of bloatware and unnecessary apps.

The Synrgic Uno (Source: Synrgic)

Priced at USD $320, the Uno is positioned as a mid-tier phone and according to Suan Jin “targeted at young professionals in emerging markets in Asia”. Unlike other manufacturers of mid-tier to lower-end phones with the propensity to choose China as their production base, Synrgic strives to associate the brand and product with high quality, which led to its choice of outsourcing manufacturing to a partner facility in Korea.

Citing Xiaomi, a manufacturer from China that produces iPhone look-alikes as its inspiration, Synrgic is closely observing the rapid ascent of one of China’s most valuable technology companies, now valued at $4 billion (June 2012). Suan Jin believes that by applying key lessons taken from counterparts like Xiaomi, Synrgic is able to ride consumer demand in Southeast Asia for value-led smartphones with optimized quality and features. This addresses the huge market potential made up of individuals aspiring to premium brands like Samsung and Apple, but who simply cannot afford it. Therefore, he is confident that Synrgic will succeed because of Synrgic’s focus on a distinct value advantage over its competitors.

“We are targeting prospective buyers of the Samsung S3 who recognize value, and don’t necessarily want to pay a premium, or people who need a very good second phone for example. Those customers are attracted to quality products like the Uno willing to get the Uno, because you get the same specs for 60% of the price. Typically, our partners are savvy – they know good devices when they see them”

Currently, Synrgic’s business model to compete on price may be compelling; however, it will be interesting to see how the market responds especially with Samsung and Apple pumping out mini versions of their high-end phones. While some consumers look for a bargain, purchasing brands with equivalent specifications at a lower price like the Uno, there is still a large majority who prefer going for a prominent brand even if they are paying a premium for lower-tier specifications. Hence, it is easy to guess that the next critical step for Synrgic is to build up brand equity and awareness.

The Synrgic Uno has been launched in Singapore, Malaysia, Thailand, Indonesia and China. For those in Korea or other countries who would like to get their hands on what CNET Asia deems as a “geek phone”, it is available for purchase online through Synrgic’s website with free international shipping (limited time only) and a “1-for-1 exchange warranty upgrade”.

Technically, the Uno will be able to work in Korea but registration with a telecom operator is necessary for the phone to gain access to the networks. Suan Jin told StartupTree that Synrgic is in talks with one of the major Korean telecom operators to explore collaboration opportunities in the near future. It is also planning for an LTE model for release in the near future, which would be an apt move especially for LTE markets like Korea.

From School to Synrgic

I was extremely curious to know about Suan Jin’s decision to venture into the OEM business, especially as a first-time entrepreneur with no operating experience. Young entrepreneurs (out of Silicon Valley and around Asia) are usually inclined to create startups building software-related or service-oriented businesses but rarely do we see those with the guts to pursue hardware-based companies, where profit margins are volatile and slim. Moreover, startups involving the manufacturing of hardware also require substantially significantly more investment in raw materials, machinery and labor.

Suan Jin, who hails from a well-established family, credits his pursuit to establish Synrgic to his passion for and interest in technology, as well as unparalled support from his father (an entrepreneur as well). Regardless, building Synrgic right after graduating from the University of Southern California as a major in business and finance was still no easy feat. Without a formal engineering background, he had to devote extra time and effort to learning about the technical aspects of smartphones, while receiving financial backing from family also meant that there was high pressure for accountability. As Suan Jin explained,

“It is easy to believe that I casually went to my Dad and said “Oh, give me money to do this…”. This is not a casual investment. I presented all the cases and models and even had to convince skeptics and stakeholders. This led to Synrgic’s growth in 5 countries and our team of almost a hundred people across the region.”

Yet, he openly attributes his achievements to help from his father, whom he works closely with on the conceptualization of the product to human resources where he had to tap into his father’s network to recruit talent. One of the largest challenges he faced as he was on the mission to search for “the correct people for the job”. On the operations side, one major difficulty is managing the supply chain.

“The supply chain is so important in the smartphone business – a smartphone has 300 over different parts so it is a nightmare to coordinate everything. And if one thing goes wrong, everything else is affected.”

Describing his current experience as an entrepreneur “exciting yet infuriating at times”, Suan Jin turns to his family and friends for support when the going gets tough. He emphasizes that he has never regretted pursuing his path as an entrepreneur, and like many techies out there, he is inspired by Steve Jobs whom he regards as the “man behind the smartphone revolution”.

My favorite part of any interview with founders of startups is getting them to provide the 3 most important qualities they believe entrepreneurs need to succeed. Here are the 3 qualities singled out by Suan Jin:

1. Initiative and Drive

“The drive and initiative to get things done. A startup is not as structured as a large company. It is even more unstable and has lots of ups and downs. (The founder) must have the optimism and motivation to continue on and not give up.”

2. Courage and confidence

“The confidence to know that your path is correct. There will be many naysayers and people who say this and that but there is always more than one way to the goal. What is not ok on the other hand is trying to please everyone and getting nothing done in the end.”

3. Interest and knowledge

“(An entrepreneur) must really know the industry and continually read up in order to chart and formulate the best course of action.”

StartupTree wishes him and Synrgic all the best, and we hope to see more smartphones rolling off the conveyor belt soon! Maybe a Synrgic Duos?

For Synrgic Uno product reviews in more detail, visit:

- CNET Asia

- Engadget

- Techgoodu

[canaryellen]

[Re-post] Startup Battle Korea 2013: Memebox and Malang Studio Take Home Top Prizes

Originally written for Startup Tree

Being invited to Startup Battle Korea 2013 was even more exciting than receiving a present on my birthday (and that’s not an over-exaggeration). Thanks to friends at Seoul Space/Boom Media, I found myself in the Allegro ballroom of the Intercontinental Hotel Coex last Tuesday, enveloped in a crowd of nerves, excitement, anticipation and hope. It was my first-ever startup pitching competition, and I watched in wonder as representatives of 10 startups took to the stage to work their magic on the judges who well, held the power to change the destinies of their companies.

Hosted by the Korean Ministry of Science, ICT and Future Planning, Ministry of Trade, Industry and Energy (MOTIE) and Korea Trade-Investment Promotion Agency (KOTRA), this is the second year for Startup Battle Korea, an inaugural event sponsored by Seoul Space (and Unity this year), and brought to life by Boom Media. The team put together an impressive line-up of judges, many of whom are venture capitalists armed with entrepreneurial prowess and operating experience in tech giants. Luminaries who flew in from Silicon Valley include Enrico Beltramini (Fashion Tech Accelerator), Patrick Chung (Naxuri Capital), Kevin Hale (Y-Combinator) and Ron Hose (Innovation Endeavors), lending to the rising influence of Startup Battle Korea. Founders of leading Korean incubators, Richard Min (Seoul Space) and Bernard Moon (Spark Labs) were also present as judges for the event.

Startup Battle Korea 2013 kicked off promptly with A&T Holdings opening the pitching session, followed by CheezLab, DevClan, JJSMedia, Malang Studio, Memebox, SinglePet, SixClick Inc., Soso Co. Ltd and Xrisp. From among the 10, solutions ranged from photo management, photo mobile printing and mobile marketing platforms to a pet care system, a game company and a SNS (social network service) that promises to help bring concerts to reality through crowdfunding. However, the startups who wowed the judges and snagged the top 2 prizes – Memebox (grand prize) and Malang Studio (gold prize), were undoubtedly outstanding. I was not surprised at the outcome, since I witnessed the pitching session. Representatives (Memebox’s Dino Ha and Malang Studio’s Violet Kim) from both startups were confident, poised and authentic in their delivery; but more importantly, they had the ability to communicate compelling value propositions of their businesses. What really stood out was also the passion they exhibited for their respective companies and products.

Grand Prize Winner - Memebox

Memebox

Memebox’s vision to “Offer the Most Exciting Beauty Experience” is fulfilled through a beauty subscription commerce (and e-commerce) business model. At 16,500 won (USD 16.50), a subscriber to its service in Korea would receive sample packs of 5-6 beauty products from global brands once a month in his or her mailbox. Satisfied customers who wish to purchase the full size beauty product upon sampling can then do so through Memeshop.

South Korea, known as a nation that takes beauty seriously (both men and women) and have no qualms in investing in beauty products to enhance their looks, is also possibly home to the city with the highest density of cosmetic stores. According to Arirang News, Myeongdong, a popular shopping complex for both Koreans and foreigners in Seoul, has about 80 cosmetic stores alone in the area. However, what distinguishes Korean cosmetic companies from their foreign counterparts would be their extensive (and usually excessive) use of samples as part of their marketing and promotional efforts. It is not a rare sight to see shoppers in Myeongdong carrying bags of samples as opposed to actual products purchased.

Memebox refines this marketing approach and takes it a notch higher by helping beauty companies monetize what would usually be deemed as “wastage” into products with potential economic value. Adventurous (or fickle-minded) customers who enjoy using different products simultaneously or who like changing regimes at a whim are given a convenient and affordable outlet to do so. With its focus on incorporating foreign brands in the early stages of Memebox, the company gave customers access to premium cosmetic products without having to incur holes in their pockets. This is especially true for a customer with sensitive skin (like my mother), and more importantly, for a person (me) who usually purchases her cosmetics for her. This is an attractive proposition as it reduces the risks of sunk costs in cosmetics that will never be used if the skin reacts badly to them.

Despite its early success, Memebox is not resting on its laurels and looks to raise funds to innovate business processes and content creation. I asked Dino Ha, CEO of Memebox about winning Startup Battle Korea 2013 and his future plans for the company.

“Thank you very much for the prize but it is not what is important and it is not what keeps us going. We are on step 1 out of 100. We have a lot of problems to solve internally and externally. We want to build a company that will impact the future of beauty industry and that is our only goal: to make the world more beautiful.”

As a woman, and a conscientious user of beauty products, I am glad to see a solution like Memebox and I wish it all the best in its future endeavors!

Malang Studio

Malang Studio walked away with the second top prize with their product – “AlarmMon”. Based on the words “Alarm” and “Monster”, AlarmMon is, as the company describes “a new alarm clock application that gamifies your morning wake-up call with games and characters”. Launched in 2012, it has become the most popular alarm application with over 4 million downloads to date, successfully embedding itself into the daily ritual of people’s most intimate (and frustrating) moment – getting out of bed! It has also demonstrated potential and attractiveness in global markets, with 60,000 downloads in just 24 hours among users in China.

Malang Studio designs its own characters that users can select to use as his or her morning butler, and with each character comes different missions that the user has to complete before the alarm turns itself off. It is a simple concept but has received rave reviews from users who are not only thankful for this wake-up call (literally) but who over time, bond with the cute characterspainstakingly crafted by the company’s designers. Just barely a month ago, Malang Studio welcomed a new addition to its family, a turtle with a flower growing out of its head called Dooby. It joins Black Cat, Henny Penny (a hen), Bready (a piece of toast), Floppy Fish and Lengtoo (a pink rabbit from China). For those interested in the creative process of this character, check out the interview with Violet Kim, a character designer with the company.

Malang Studio is riding on the popularity of its characters and enabling monetization through character licensing for emoticons or stickers, plush toys, widgets and smartphone cases. On top of that, it also relies on built-in advertising as a form of revenue generation. Here is what Violet Kim, the representative who presented on behalf of Malang Studio at Startup Battle Korea had to say about the company’s success and development,

“We would like to first give our thanks for the unconditional support we have received during our journey. This distinction means so much more as we earned it as a team! The fact that this recognition comes from a panel with judges from different cultural backgrounds made it all the more meaningful. Malang Studio is a group of eccentric individuals who came together with the idea of creating fun things. Starting with the AlarmMon app, Malang Studio will change the lives of individuals all across the globe – one morning at a time!”

Personally, I have not used Alarm Mon before, but have downloaded the app in Google Play and chosen Bready as my character. Stay tuned for updates on my experience!

Although it has only been a week, I am already looking forward to next year’s Startup Battle Korea!

[canaryellen]

[Re-post] “Everybody’s Marble” Overtakes “Anipang” to Top Mobile Game Rankings

Originally written for Startup Tree

It seems Korean mobile game players are getting tired of lining up chicks, monkeys and rabbits in one of Korea’s most popular apps “Anipang” and moving to a more social game designed with the feel and look of good old Monopoly – “Everybody’s Marble”.

Last week, ET News published their weekly update on app ranking heralding the emergence of the game; this week The Korea Economic Daily ran an article on it as well. Essentially, both publications were astounded by the phenomenal success of the game, evident in its DAU (Daily Active Users) figures. According to ET News, the DAU of “Everybody’s Marble for Kakao” now stands at 4.25 million, compared to Anipang’s at 2.58 million and its predecessor, “Cookie Run” at 1.7 million. The article also emphasized that a combined DAU for both Anipang and Cookie Run would still place it lower than Everybody’s Marble.

Amount of Time Spent on Anipang vs. Everybody’s Marble

The Korea Economic Daily provided a more in-depth analysis with graphs from AppRanker, which exhibited that not only is the DAU of Everybody’s Marble twice that of Anipang’s, but also the amount of time spent playing the game. The time measured in the second week of June was 1 hour and 6 minutes for Everybody’s Marble compared to 33 minutes for Anipang. However, just over two weeks, the difference has started narrowing with the amount of game-playing time for Everybody’s Marble which has dropped by 16 minutes to 50 minutes of engagement. On the other hand, the amount of time spent on Anipang has remained consistent albeit decreasing only slightly. Therefore, it is probable that Everybody’s Marble is experiencing a temporary hike in both DAU and game-playing time; it would be interesting to monitor the developments in terms of growth of these game apps.

Everybody’s Marble Thailand

The success of Everybody’s Marble rides on nostalgia and users’ familiarity with the interface modeled after Monopoly, as well as the enablement of real-time play among friends. The game, produced by Taipei based-JoyBomb Entertainment Technology Co., is also available in Thai. To date, it has amassed close to 600,000 likes on its Facebook page and a dedicated website built underNetmarble, a subsidiary of Joybomb’s parent company, CJ Entertainment. In September last year, Korea’s CJ Entertainment and Taiwan’s Cayenne Entertainment Technology Co. came together to establish Joybomb, with the former contributing $4 million, 60 percent of the initial capital invested.

Yet, what is more interesting is the channel or platform through which these games are being played. Based on the top 10 game rankings in Google Play alone, 7 out of 10 games played are hosted on Kakao, with developers building casual games on the mobile messaging application platform and integrating them with users’ contact lists. This results in an enhanced gaming experience involving interaction with real friends, as opposed to “in-game friends”. Given the growing popularity of these games, it is evident that people enjoy gaming with a familiar group of people; whether this preference translates to more hardcore games however, remains to be seen.

It is expected that this phenomenon will continue to grow, as social messaging platforms like Kakao acquires more users (currently at 100 million). This in turn, provides huge potential for exposure to mobile game developers, not to mention monetization opportunities as they build in features that enable new ‘word of mouth’ marketing with users being encouraged to invite, recommend and gift game items to friends. In an interview conducted by the Wall Street Journal with Sirgoo Lee, Kakao’s co-chief executive officer last year, the success of game titles like Anipang, Dragonflight and now Everybody’s Marble “was a total surprise”. This pleasant surprise nonetheless calls for a review of Kakao’s strategy, and how it is able to leverage on its recent success to strengthen its hold over users with the rise of other social messaging applications like NHN’s Line and Tencent’s WeChat. This is good news for users as we can expect higher quality games seamlessly embedded within the different social messaging applications; or even access to the same game across different messaging platforms in the future.

[canaryellen]

[Re-post] Uber’s Premium On-Demand Car Service Debuts in Seoul

Originally written for Startup Tree

My first brush with Uber was outside the Moscone Center in San Francisco, when I was faced with the task of getting my boss down to San Jose for an unexpected executive meeting to be held in 2 hours. And for most who have been to the Moscone Center for one of their never-ending conventions, it is common knowledge that getting a cab is nerve-wrecking; and even more so for myself, a non-SF native visiting from Seoul.

Since our company car had been dispatched for other tasks, I was put on a mission to get a car (but not just any car) – and fast. I pinged my local colleague with an SOS message and she replied with two words, “Download Uber”. 15 minutes later, through Uber’s app, I managed to secure a car for the boss after getting myself an account, entering my payment details and setting the pick-up and drop-off locations. Easy-peasy! Although we ended up cancelling the request (and incurring a USD$10 cancellation fee), I was nonetheless blown away by the convenience and ease of the service.

So, imagine my excitement when I learnt that Uber had arrived in Seoul! The premium on-demand car service selected the city as its second Asian launching pad (the first being Singapore) to expand its presence in the region (just two days after its launch in Seoul, Uber has also commenced services in Taipei, Taiwan). In Seoul, It is currently conducting customer trials for app-testing and has taken quite a fancy approach to its launch, by having locally renowned footballer and Olympic medalist Koo Ja-cheol to be its first passenger. Given its premium service, suited drivers and fancy cars, Seoul’s exclusive Gangnam district was no doubt, the prime candidate to showcase its services.

According to TechCrunch, the base fare for Uber in Seoul starts at 6,000 KRW, which is more than twice the 2,400 KRW charged by taxis in Seoul. The per kilometer rate is 1,700 KRW, compared to 1,100 KRW for most Seoul taxis. It could be considered exhorbitant for the single travelling customers but might be appealing to executives on the move or groups of Seoulites out for a night of fun and drinks (think bar/club-hopping!). Moreover, if you compare Uber with the current “mobeum” (deluxe) taxis with a base fare of 4,500 KRW, the difference in cost is reduced dramatically. Uber currently covers Seoul and trips from Incheon airport into the city.

Uber is one of numerous app-based on-demand car services that have emerged alongside Lyft, Sidecar and Hailo in the United States. Its closest competitor in Korea is Rocket Internet’s Easy Taxi which launched its services in December last year and now serves a greater coverage area including the Gyeonggi province. It also has a dedicated Facebook page in Korean. According to MK News (in Korean), it seems Easy Taxi is gaining traction in Korea, with 20,000 users of the app in May, 6 months after its launch. This would place the average number of users at approximately 3,300 users per month; on Easy Taxi’s website. It also released Easy Taxi 2.0, an upgraded app encompassing more features and an improvised user interface. For example, users can now store information of previous rides, such as the driver’s name, contact number and car number so that they can track and retrieve lost items.

Credit: MK News

It will be interesting to see how Uber performs in the extremely competitive Seoul market, against current taxi operators and service providers like Easy Taxi; and especially if shared car-riding services like Lyft and Sidecar enter the market in the future as well.

Moreover, it remains to be seen if there will be any backlash from local transportation authorities who perceive Uber as a threat to public safety and fair competition in the marketplace. In its home country, it has encountered its fair share of regulatory obstacles, with the New York’s Taxi & Limousine Commission (TLC) refusal to authorize its launch in the Big Apple in September last year. On the West coast, it was also recently issued cease-and-desist letters from the Los Angeles Department of Transportation. Similar accusations of transportation violations have also been filed in other cities including San Francisco, D.C., Miami and Denver. Over in Asia however, Uber seems to be in good standing with transportation authorities. In Singapore for example, a spokesperson from the Singapore Transportation Authority told the Wall Street Journal that it was aware of Uber’s services and “there is no restriction on private commercial arrangements between limousine operators and third-party service providers, such as Uber, to promote such services”. The same applies to Korea where it has been operating pretty much without controversy.

Yet, the potential and innovation that Uber brings to transform transportation is apparent and recognized. In June this year, the Federal Trade Commission issued written comments to the D.C Taxicab Commission warning them that their rules to curb services like Uber may be overly restrictive and therefore could stifle competition and harm consumers. There might still be a long way to go as Uber works its way through regulatory hurdles but in the meantime, users (like me) are not complaining!

[canaryellen]

[Re-post] “Planning Incubators” – A new business model?

Originally translated for Startup Tree

“Planning incubator, holding company incubator, company builder, venture builder, startup holding company…” – Many terms are used to describe the way an incubator conducts itself but ultimately, there is only one business model. When a venture capital firm or accelerator evaluates a potential start-up and decides to invest, it usually engages in the product planning process and even actively searches for a CEO-like figure to lead the initiative. One of the strategies undertaken is also introducing already successful IT business models into other countries and propelling their growth in their respective new markets. The rate of failure for startups is much higher than the rate of success and till date, entrepreneurs in Korea are often subjected to negative perceptions by people around them. They also inevitably face numerous internal and external obstacles that they have to overcome. The planning incubator extends a helping hand to these individuals engaged in a lonely battle (to build their businesses).

In 2010, Rocket Internet Korea established itself as Korea’s first planning-type incubator, operating out of Seoul for 3 years. At that time, the company selected this city as the destination for its Asian headquarters; but despite a successful launch, it is now currently headed to Southeast Asia. Rocket Internet replicates services of companies with tremendous progress in the United States and introduces them into markets within Europe or Asia where these companies do not have presence or are unable to penetrate. The company then gains success through the sale of start-ups offering these duplicated services.

In May last year, Korea witnessed a new entrant into the market – Team Europe. Investing in 15 companies across 10 different countries including Europe, the United States and Australia, Team Europe has become a mid to large size accelerator with numerous subsidiaries. According to branch manager Ludolf Ebner-Chung, Team Europe’s point of distinction is its ability to provide startups with guidance even before the start of the business to the formation of the venture team as well as imparting experience of achieving success overseas. He also added that Team Europe is different from competitors, as it focuses on launching successful business models in the United States in other markets. Through which, its business naturally expands, and subsequently a group of entrepreneurs is formed.

However, the problem is these incubators are not free to operate amongst the controversy of “copycats (imitations)”. Earlier this year, Business Insider ran an exclusive on Rocket Internet and Team Europe, naming the article “The trap of cloning (duplication)”. The discussion revolved around the fact that these two entities could replicate “hot businesses” and re-sell them to their original companies without raising legal implications. Startups often find it difficult to gain protection through patents for their business models; moreover, they do not possess adequate financial resources to engage in lengthy legal disputes and battles that span over years. In the event that startups do not manage or perform up to expectations, incubators exert changes over their management teams or suspend the business with efficiency. The strength of incubators lie in the speed to which these processes are executed but at the same time, is a flaw, considering the disruption they cause to the venture ecosystem.

However, even if the copycat business is being criticized, Rocket Internet’s business performance is outstanding. For example, Zalora, a clone of Zappos, which was acquired by Amazon achieved a staggering valuation of £2.8 billion. As for Citydeals, it was acquired by the very same company that it copied – Groupon, for $0.13 billion. This propelled a 1 trillion won valuation of the shares held by Rocket Internet’s Samwer brothers, and in turn, placing the company among Europe’s top 10 IT companies in terms of stock evaluation criteria. Recently, rumors about the company preparing for an IPO are also brewing.

The competitiveness of incubators lies in their speed. Once an item is decided upon, products launches are simultaneously executed in numerous markets where experienced professionals with MBAs or backgrounds in investment banking, or consulting etc. are recruited for enablement. More often than not, the specs of personnel working in firms like Rocket Internet differ from those in a typical company. This can be attributed to the incubators employing skilled personnel with operating experience for the purpose of rigorous, indices-driven management. Hence, the dismissal of management teams and introduction of services within startups are swiftly and objectively achieved. For example, with the entry of Pinterest into the Korean market, the services of Pinspire, its clone, were suspended within 6 months after its launch.

Why are firms like Team Europe and Rocket Internet once again gaining attention? This is largely due to their acquisition of weak and unattractive startups, and transformation they subject these businesses through via methods used in private equity. For example, there was a time when the youngest and hottest startup in Silicon Valley was losing users due to a misguided tweak in its UI / features. Last year, Rocket Internet jumped in to acquire this failing social news service – Digg. It paid $0.5 million for the brand and website and promptly integrated it with its own launched service, News.me. Within 6 years, the new team re-worked and released a new design, and started to enjoy the fruits of their labor almost immediately when users doubled less than 6 months after. Recently, when Google announced that it would terminate its RSS reader service, the Digg reader service was launched, with Rocket Internet expanding its reach once again.

Other than Rocket Internet and Team Europe, another rising star is no doubt, Betaworks. This incubator recently acquired Instapaper and is therefore, the “start-up’s holding company”. In 2007, as an early-stage startup venture capital firm, it exhibited its potential with the launch of renowned services such as Chartbeat, Bitly, Social Flow etc. A more current example would be the sale of Summly’s by a 17-year-old high school student to Yahoo. Betaworks’ strategy for success is clearly defining its scope and focusing on its portfolio, which these days, is mostly real-time analytics and related services. Moreover, instead of merely copying existing services, Betaworks engages in the construction of new ideas, which results in high risk but enables it to develop fundamental core competencies to expand further into relevant areas on the forefront.

Jimmy Rim, CEO of KCube Ventures advises that replicating features from overseas services will not make entrepreneurs successful in Korea and further emphasizes that even overseas services had to undergo countless trials and errors before succeeding, and it is through this process that cultivates endurance and know-how that play a huge role in success. Therefore, he reminds us that it is necessary to consider if this know-how generated can be directly applied to Korea, especially since infrastructures, cultures as well as user behaviors vary from country to country.

This article was translated from an article by Jung-yoon Hur at ET News, a partner of VentureSquare.

For more information on the incubators covered in this article, visit:

- Team Europe

- Rocket Internet

- Betaworks