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Book Pricing Strategies in Korea

Publishing Industry   Book Pricing Strategies in Korea   2023.07.03         Average list price of books sold in 2022 was 17,869 Korean won   In Korea, books are usually sold at a fixed price. It’s because the “fixed book price policy” is implemented as the book price policy in accordance with the Publishing Industry Promotion Act. According to the Korean Publishers Association’s statistics, the average fixed price of books in Korea in 2022 was 17,869 won, 4.4% up from the previous year (17,116 won). This isn’t a sharp increase considering the international pulp prices and domestic labor costs that have been driving prices up in recent years because publishers sell books at a “competitive price” as they fiercely compete with multiple titles in the market.In the Korean publishing market, the hardback, paper...
  • VOL.60 / 2023.07
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The Vulnerability of Production Focused on Paper Books

Publishing Industry   The Vulnerability of Production Focused on Paper Books   2022.06.07   The advancement of science has brought development to media, including in variety. Also, as an IT powerhouse, Korea provides easier access to all sorts of content, enabling people across all age groups to enjoy visual fun and entertainment through visual content rather than books. The significant drop in public interest in paper books – the analog – can be easily seen in the statistics of the yearly decrease in the reading population.   Reading population and the number of books read per person (2011~2021)   * Source: Statistics Korea (11.17.2021), Social Survey Results in 2021   As you can start a book-publishing business with a relatively small financial basis, the entry barrier is not that high. If you are interested, you can take your first foot in the industry without much difficulty. However, it is at the same time the re...
  • VOL.47 / 2022.06
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