Google Signs South Korean Search Deal
Google has signed an online advertising deal with the Daum Communications Corporation, one of the largest web portal operators in South Korea.
Daum has had a web search syndication deal with Google since 2003, but started negotiating with the American media giant about content sharing this November.
In turn, Google snatched Daum from the auspices of Overture Korea, Daum’s ad provider since 2004. Starting in January, Daum will transition to PPC ads from Google’s AdSense network and display them next to web search results.
“Although I cannot reveal the specific terms of the deal, Google offered a bigger portion for the keyword ads revenues in comparison to Overture Korea,” Kim Nam-jin, head of Daum’s search division, stated to the Korea Times. “We expect the contract with Google will boost sales of our keyword ads. In other words, our profits from keyword ads will increase in two ways—bigger sales and a bigger share.”
Overture is entrenched with 90% of the Korean keyword market, according to UCLA’s Asia Media. Google is gradually expanding its operations in Seoul by hiring more Korean staff and developing localized ad products.
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