Skip to main content

10 Reasons Why Korea is One of the World's Top 3 MLM Markets

Why is Korea Strong in Direct Selling?

Why is Korea Strong in Direct Selling?

Korea is the third-largest MLM market in the world, following the United States and China. Despite having a population of only 50 million, direct selling has become a common distribution method in Korea, and the MLM market, in particular, continues to grow steadily.

10 Reasons Why Korea is One of the World's Top 3 MLM Markets

  • High Educational Levels: The high level of education in Korea supports effective seminars and training programs, which are crucial for success in network marketing.
  • Strong Social Networks: Korea is a society with robust social networks, including regular gatherings among relatives, friends, colleagues, alumni, and religious groups, which are conducive to MLM activities.
  • Proactive Business Culture: Koreans are highly proactive and passionate about business, with a strong desire for success, which drives their enthusiasm and commitment to MLM ventures.
  • Product Innovation and Quality: Korea develops and produces a diverse range of high-quality products, including competitive health supplements, skincare, and household items, thanks to advanced technology.
  • Opportunity for Older Adults: As a super-aged society, Korea offers network marketing opportunities, particularly for individuals over 50, who may face a shortage of quality job opportunities.
  • Efficient Transportation: The small geographic size of Korea and its well-developed public transportation system allow for quick and easy travel, saving time and costs for MLM activities.
  • Cultural Acceptance: MLM is culturally accepted in Korea as a legitimate business model, with many viewing it as a viable way to earn income.
  • Regulatory Environment: The structured regulatory framework provided by the Korean government ensures consumer protection and prevents fraudulent practices, instilling confidence in participants.
  • Economic Factors: The competitive economic landscape in Korea encourages individuals to seek additional income streams, making MLM an attractive option.
  • High Participation Rates: A significant portion of the population is involved in MLM, contributing to high sales volumes and market activity.
  • High Internet Penetration and Speed: Korea boasts high internet penetration and fast connection speeds. Even older adults are adept at using social media, allowing for efficient recruiting and team management, thereby enhancing the effectiveness of MLM business operations.
Labels:

Comments

Post a Comment

Popular posts from this blog

Top 100, Korea MLM Companies As of December 31, 2020, the number of legally licensed MLM companies in Korea is 122, and the total sales of 122 operators in 2020 is USD 4.29 B, compared to USD 4.55 B in 2019, which is USD 0.21 B (-4.65%). ) has decreased. The biggest reason for the decrease can be seen as a contraction in sales activity due to the corona virus. Due to the government's strong social distancing policy, the lack of seminars, training, and promotional tours was a major cause of the decrease in sales. In 2020, there was a company that could not even start business even though it was issued a new MLM license. In addition, there have been cases in which global MLM companies continue to delay their entry into Korea. What is positive despite the corona crisis and non-face-to-face era is that the decrease in sales was within the single digit 5% is a very positive sign. Leaders of companies and groups have shifted their business practices to non-face-to-fa...
Post a Comment
Read more

How to obtain MLM license in Korea

How to Get MLM License in Korea In order to establish and operate an MLM company in Korea, The company must have an MLM License. The period for which the MLM license is issued within 30 days at the earliest and 60 days at the latest after application. In order for a company to obtain an MLM license, it must conclude a Mutual Aid Contract with MACCO (Mutual Aid Cooperative Consumer). Mutual Aid Contract Procedure for MLM License Concerning indemnification for consumer damage, MLM companies are required to provide a deposit and mutual aid fee based on the rate set by the mutual aid regulations of the mutual aid cooperative on the sales amount subject to mutual aid. They must also sign a contract for consumer indemnity insurance with the cooperative prior to commencing operations. For a new company that intends to undertake an MLM operation, the rating committee strictly evaluates the company’s eligibility for joining the cooperative in accordance with the cooperative’s mu...
Post a Comment
Read more

About Koea Direct Selling Consulting

My Blog Korea: A Lucrative Market for Direct Sales Korea is the third largest direct sales market in the world. In particular, in the MLM market, global MLM companies are successfully conducting business, and 9 out of the top 10 MLM Companies in Korea are global companies. Korea is a lucrative market to target the Asian market. Since Korean leaders form close human networks with global leaders such as China, Japan, Thailand, Vietnam, Philippines, and Malaysia, if you enter Korea first, Korean leaders will pioneer the Asian market. I have been working in the direct selling industry in Korea for over 25 years. My knowledge, experience, and human network will enable your company to settle in Korea and run a successful business in Korea.
Post a Comment
Read more