Learning from Korea's world-leading mobile commerce

Given that South Korea has the fastest, most extensive mobile broadband networks and the highest penetration of smartphones in the world, it should come as little surprise that mobile shopping is rising exponentially here. (click on the accompanying graphic to see a full size version)  As noted in a recent report by the McKinsey Group,more than two thirds of South Koreans own a smartphone, "... compared with 47 percent of Americans, 57 percent of Australians, and 52 percent of Britons. South Koreans are also big users of their smartphones, with sales of goods purchased using mobile devices jumping more than fourfold since 2012 to about 10 trillion won, or $9.8 billion."  The mobile commerce market in Korea today represents nearly one third of all web-based sales.  Clearly, mobile commerce is one of many areas where Korea serves as an interesting test-bed for other markets around the world.