The local market for mobile advertisement nearly doubled year-on-year in 2013, a government report showed Tuesday, amid the soaring number of smartphone users in the country. The Ministry of Science, ICT and Future Planning said the size of South Korea’s mobile advertising market was estimated at 416 billion won (US$392 million) last year, a leap from the 215.9 billion won (US$202.5 million) in 2012. Last year’s figure accounted for 4 percent of…

In 2011, the market was worth 76.2 billion KRW – in 2012, this figure increased to 216 billion KRW (approx. $198 million USD) with the growing presence of smartphones and high-speed internet and this year, it is expected that this figure will double to approximately 416 million KRW.