The South Korean online market is one of the largest e-commerce markets in the world. According to eMarketer report, South Korea is ranked 7th in the world in the e-Commerce market in terms of transactions volume, more than Canada, Russia or Brazil. The 2016 South Korea Ecommerce Market totaled nearly $38 billion last year and is expected to surpass $50 billion by 2018. As the most popular mobile country in the world, 90% of South Koreans own a smartphone, with mobile sales increasing at an impressive rate.
There are advantages and disadvantages of online distribution. The strength of online distribution is easy access to both buyers and sellers, and is not limited by time and space. Another important advantage is the fast availability of the information. The buyers and sellers can easily get information, by navigating the internet, about the products that they wish to purchase, and besides that, they can check the information at any-time of the day.
However, this online distribution also has disadvantages. Due to the low barriers to market entry, many online retailers have entered continually and it caused a very intense competition. In order to survive in this intense competition, online distributers are making an attempt diversely. For example, the distributer to expand sales channels through easy to access social network service (SNS), to secure a more convenient settlement system using online virtual currency, and analyzing buyer’s patterns through big data.
Larva Korea, a company in South Korea, is an online distribution business, which continually achieves good results in the online market. They distribute approximately one hundred domestic and foreign products and deal with home appliances as main items. Larva Korea’s President Seung-Hwan Pyeon’s goal is to sell good products at reasonable prices. In addition, he will create his own sales site and register it in the existing open-market, thereby reducing the burden of the sales commission and becoming a more competitive distributor. He is also preparing to manufacture and sell his own brand products through the research of excellent products.
In the online distribution market, buyers are often damaged by irrelevant information, false advertising, exaggerative advertising, and limited information.In this indiscriminate online distribution market, Larva Korea is establishing confidence with buyers as an honest company with accurate information and excellent products. President Pyeon believes that everything is based on trust and that he is establishing the trust between sellers and buyers or between sellers and sellers, even if it’s an online distribution market where there is less direct contact with buyers.
▲  LARVA KOREA CO., LTD.
▲  Brand Name: Lavako
▲  CEO : Seung-Hwan, Pyeon (Peter Pyeon)
▲  T : +82-31-427-4490
▲  E-mail : : larvakorea@naver.com
▲   www.lavako.co.kr
Dean Lee and Irene Kim
K-Herald Korea
(Los Angeles Times Advertising Supplement)
