Korea plays such a significant role in the cryptocurrency market in the world that fluctuations of cryptocurrency in Korea have effects even on overseas trading platforms. In addition, the rate of investment in platform-based Altcoin tends to be higher than that in other countries, and Korean investors that highly likely to make aggressive investments are proactively taking part in new ICOs (Initial Coin Offerings).
Despite the fact that the government prohibited ICOs, many investors are still aspiring to deepen their understanding about the cryptocurrency and ICOs and make investments, thus the Korean market is very appealing at the moment giving overseas ICO companies a chance to advance into the market.
Then, how does one successfully make inroads into the Korean market? This article aims to briefly introduce how.
1. Select a dedicated and specialized company
Prior to establishment of a subsidiary in earnest, which requires large costs and a big decision, it is important to accurately understand the Korean market and customers more than anything else. Accordingly, it is significant to choose a company that can provide data for thorough market analyses based on in-depth understanding about the Korean market and that can take charge of conducting specialized public relations. It is one of many ways to access advancement into new markets by phase and gain the maximum benefits against costs and earn a precious reliable partner in Korea.
2. Conduct reliable media PR
As for startups, especially blockchain or cryptocurrency companies, public trust and how to gain confidence from investors and the general public through media public relations are critical. More than anything else, related areas are new unexplored fields, and terminologies are used, so material needs be established based on accurate understanding in order to be distributed to the media. Furthermore, it is essential to familiarize oneself with policies and laws in advance before responding to the media in an appropriate way so that positive responses can be drawn from the media based on pre-preparations, enterprising spirit and interest with regard to advance into the Korean market.
3. Gain trust from customers through offline events
As offline events make it possible to meet real customers and potential clients at the same time in Korea, companies can get accurate understanding about and insights into customers. In addition, customers are highly likely to develop into sponsors or investors in the future based on their confidence in the companies.
4. Discuss future strategies and the direction of progress based on analytical results
Discussions are conducted on the future direction of progress and strategies based on analytical results on activities offered by companies instead of stopping at executing. Accordingly, it is important to proceed with doing business with partners that can provide guidelines for the future direction of progress and strategies.
The Korean market appeals to overseas ICO companies. If it is possible to strategically access the market along with a reliable partner supporting corporate vision, chances of success will become that much higher.