1-903, 18 Eonju-ro 146-gil,
Gangnam-gu, Seoul, Korea
Welcome to the 25th issue of Inquivix Insights! In this edition, we take a look at some key trends that are likely to shape the market over the next few months. We also explore the impact of these trends on various industries and provide insights on how businesses can capitalize on them. As always, we hope you find this information useful and insightful. Enjoy!
The Travel Industry Is Getting a Boost as Overseas Travel Inquiries Increase with Quarantine Exemptions
The demand for international travel has seen a gradual increase in recent weeks as the South Korean government has decided to waive the obligation of self-isolation for people who have been vaccinated. The traffic influx of the company’s website increased by 120% from March 11th to 14th, according to Yellow Balloon Tour Co., Ltd. The number of reservations with the travel agency has increased by 85%. The company said that as subscribers have increased by 50%, the number of travel package inquiries has also gone up.
Coupang Denounces Accusations of False Product Reviews
In our most recent Inquivix Insights post, we told you about allegations of product review tampering against Coupang. Nonetheless, Coupang denied these claims made by civic organizations such as the Solidarity for Participatory Democracy, stating they were “falsified”. Coupang stated that all product reviews are always transparent and that it has always made it clear who wrote the reviews if they were submitted by its workers.
IG Works Launches Integrated Marketing Cloud
IG WORKS, a big data platform firm, announced the introduction of an “integrated marketing cloud” service that helps businesses in their digital transformation. The firm said that the integrated marketing cloud is a data-driven marketing tool. It would allow customers to use platforms and data in real-time without having to build their own platforms.
The Content Industry Has Gotten into “Blockchain/NFT”
In the content sector, NFTs and Metaverses are becoming a trend based on intellectual property rights, which is driven by blockchain technology. CJ ENM, a multimedia and retail corporation, has declared its intention to focus on the blockchain sector more seriously. CJ ENM’s articles of association will include blockchain-based cryptographic assets, including NFTs, as well as content planning, production, distribution, brokerage, marketing, and advertising agencies.
Launch of AddTune, an Outdoor Advertising Trading Platform
Ad-Tech firm AddTune, Inc. launched ‘AddTune,’ an outdoor advertising platform based on big data and AI. AddTune is a transaction platform for outdoor advertising that allows customers to buy advertising accounts. Based on the floating population’s big data, advertising expenses are estimated based on traffic, residence, residency duration, ad exposure period, and advertisement medium exposure quantity.
Today’s House Is Hosting a “How to Eat Well and Live Well” Event with Baemin
Woowa Brothers, a prominent delivery company that operates the Baemin app, has announced that it will organize a “How to Eat Well and Live Well” session with Bucket Place, the operator of Today’s House. The Baemin app at 11 a.m. every day during the event period will issue a 10% off discount code for Today’s House on a first-come, first-served basis. The discount code is valid for seven days after the payment date.
South Korea is slowly coming back to life after the COVID-19 pandemic. International travel is picking up. And a new round of accusations has come up against Coupang for product review tampering. However, Coupang isn’t taking these accusations lying down. The content industry is also shifting to Blockchain technology, which could help reduce online fraud and improve trust between consumers and businesses. We’ll be keeping an eye on these developments in South Korea, so follow us for more insights from this fascinating country.