Social commerce giant Groupon to launch here

Groupon, a U.S.-based social commerce firm, announced Monday that it will launch here next Monday further fanning competition over the increasingly popular form of cyber-shopping.

Ahead of its official launch, it said it would organize a pre-launching event through its website (www.groupon.kr) which offers 1,000 won of Groupon cash to its e-mail subscribers. The figure of subscribers, however, must go over 50,000 people before March 14, its officials said.

The launching of Groupon Korea has been gaining attention in Korea as social commerce has become one of the hottest trends here, especially with the success of Ticket Monster, the country’s No. 1 social commerce company.

Social commerce is a type of electronic commerce that uses social media outlets, enabling social interaction in the purchases of new products and services on the Web.

Social commerce sites also offer deals-of-the-day items and coupons at affordable prices.

Since being introduced in November 2008 in Chicago, Groupon has been selling one deal-of-the-day product in about 500 cities in 44 different nations, company officials said, adding that the product differs according to the region.

By Cho Ji-hyun (sharon@heraldcorp.com)