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Byung spoke on the topic of having conversations with users in the social web. He has a long history of working with Korea's top social networking sites. His views are tempered by this experience.

Key takeaways:

• Korean social networks are falling behind in the global view despite having a head start and being highly connected
  
• Gaming is the best example of Korean companies having success overseas
  
• User experience is not differentiated in Korean social networks (logo color is the only difference)
  
• Competition is growing exponentially and cost is scaling as well
  
• Success in Korea (10M reach) is the same as failure in the US (10M reach) so case studies here are easy to find from overseas
  
• Social network framework - Content, context, user
  
• Tactics see varying degrees of success because of these three factors and their presence/lack of presence
  
• Focus on the users is the overall key
  
• Experience-driven design is an important trend where developers and users are the same mix - this is lacking in Korea
  
• The power of emotions play a key role in social web marketing
  
• The return on the investment for social networks in Korea took around 4 years to achieve positive numbers
  
• Growth of social marketing must involve the end user through the process
  
• The constructs of social networks are: purpose, identity, reputation, governance, communication, groups
  
• This mirrors the offline operation of society
  
• Content providers are now business partners - the line is blurring (ex. Google ad sense)
  
• The Apple model, where they develop the platform and the community develops the applications, is the future
  
• Metrics are crucial to tracking actions within a social network - look at visitors -> subscribers -> purchasers
  
• Naver, Daum and Cyworld have been around and are not evolving at the rate of US social networks
  
• Potential for small business is huge
  
• Must look at the users and the market/market potential to break in to a new market (why switch to a new site when you are already established someplace else?)
  
• Fewer companies are trying to create new spaces instead they are leveraging existing locations
  
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