|
Korea Now?!
-------------------------------------------------------------------------------------------------------
Korean Academy Q&A
----------------------------------------------------------------------------------------------------------------------------
Summer School in Korea
Overture Now Searching
In South Korea
May,3, 2003 By Pete Barlas
Overture, one of the few profitable Internet companies in the U.S.,
is poised to get more revenue overseas, says Ted Meisel, Overture's
chief executive.
"We are firmly on track to grow global revenue by over 50%
to over $1 billion (in 2003)," he said during a conference
call last month.
Overture needs that global revenue. In April, the company trimmed
its earnings forecast for the year due in part to lower-than-expected
revenue from U.S. operations.
In the first quarter, Overture reported a profit of 15 cents a share,
down 69% from 48 cents a year ago. Revenue rose 57% to $224.7 million.
Overture already operates in the United Kingdom, Germany, France
and Japan. The company is scrambling to get a piece of a growing
market for search offshore.
The global market for Internet search services will reach $7 billion
by 2007, up from $2.1 billion this year, says investment bank U.S.
Bancorp Piper Jaffray Inc. U.S. Bancorp sees paid listings as a
key driver of that forecast.
International operations didn't account for much of Overture's revenue
in the first quarter. The company expects to report up to $135 million
in international revenue this year.
But by the first quarter of 2004, international sales are expected
to comprise about 10% of total revenue. The company also expects
those operations to become profitable by the end of 2004.
Expanding offshore is a good strategy, says Youssef Squali, analyst
for investment bank First Albany Corp. But the company will have
a tough time making offshore operations profitable by the end of
2004, he says.
"It's a new revenue driver, but it's way too small to move
the dial," he said. "It's one of the many challenges they'll
have to face in the near term."
But Overture officials cite the huge potential of countries like
South Korea, with 25 million Internet users. "The opportunity
(overseas) is huge. It's as big or bigger than in the U.S.,"
said Johannes Larcher, general manager of Overture International.
"Korea is just a natural extension of our business."
Later this year Overture plans to expand into Italy, Austria, the
Netherlands, Spain, Scandinavia and Switzerland.
The company already operates in the United Kingdom, Germany, France
and Japan.
Overture's sales come from advertisers. They work with Overture
to post their ads among search results. The more they pay, the higher
their ad listings are ranked. But advertisers only pay after a Web
user clicks on the listing.
Overture has 88,000 advertisers worldwide vs. 60,000 a year ago.
It makes most of its profit from domestic advertisers. But offshore
companies are starting to take to the paid listing business, says
Larcher.
"Advertisers want us to bring that methodology to other markets,
and we think we have an opportunity to capture that," he said.
Unlike Yahoo and other search companies, which set up portals (news
- web sites) in offshore countries, Overture uses partnerships for
expansion.
The company would rather cash in on consumer traffic to its partner's
Web sites than set up a new Web site in each country, says Larcher.
"All of the traffic that we get comes to our partners' Web
sites," he said.
In South Korea, Overture is distributing its paid listings to four
partners. They include Daum Communications, the country's largest
Web portal, and MicrosoftCorp.'s MSN portal, which operates a version
of the service in South Korea.
Overture isn't alone in looking to expand offshore.
Ask Jeeves, a U.S. search service with a cartoon butler mascot,
is also mulling expansion.
Ask Jeeves operates a version of its search service in the United
Kingdom. But it's cautious about growing internationally.
It's become profitable only recently and wants to remain so, says
Skip Battle, chief executive of Ask Jeeves.
"First we want to make money and reassure investors that we
are here to stay," he said.
In the first quarter, Ask Jeeves reported a profit of 7 cents a
share, up from a loss of 22 cents in the year-ago period. Revenue
grew 56% to $25.2 million.
About $6 million of the company's first-quarter revenue came from
its Web site in the United Kingdom. Much of that revenue is from
paid search listings.
Return to top
1.Do Schools Prefer to Receive a Paper
or Online Application?
Schools prefer that applicants apply online. The online application
that schools receive is neat and orderly, and can be printed out
at the school's convenience. It is also convenient that the schools
can email the applicant right away to let him/her know that the
application was successfully submitted. The online application is
easier for schools to process than the paper application, and can
be reviewed more quickly.
2. How Do I Know the School Received my Application?
Once you have submitted your application on line, you will receive
a "confirmation email" from ApplyESL.com. This is to inform
you that your application has been read by the school's admissions
office.
3. What will my Application Look Like to the Admissions Committee?
Your application will look the same to the admissions committee
whether you submit it online or through the mail. The technology
of the online application creates an exact replica of the paper
application which allows schools to view your application both online
and after printed in paper format.
Return to top
Korean Academy offers two programs in
this summer
1.Hannam University
Taejon, Korea
Location and Size: Hannam University is locaed in Taejon, a science
town with the population of a million. Taejon can be reached within
two hours by car from Seoul. There are about 20,000 students enrolled.
There are regular bus and train services between Taejon and other
major cities in Korea including Seoul. The nearest international
airport is in Seoul.
Academic Program: MC students can take courses in a of academic
areas. Due to a small number of international students, most of
the courses are created to meet the need of international students
enrolled during a given semester.
Language requirements: None
Room and Board: either in on-campus dormitories or in Hannam's
homestay program. There are meal plans, but students may also purchase
meals at the campus cafeterias or at restaurants near campus.
Cost: Students pay regular tuition to Maryville College. Room and
board costs are directly paid to Hannam University. Students are
also responsible for airfare, books, and other living expenses.
2.Hanyang University
Seoul, Korea
Location and Size: Hanyang University is located in Seoul, the
capital city of Korea. Hanyang University is one of the major universities
in Korea and has about 30,000 students.
Academic program: Hanyang University's international program is
offered through its International Summer School. All courses are
designed to help international students understand Korean history,
culture, and socio-economic- political conditions. In addition,
students are required to attend such non-credit classes as Korean
Traditional Cooking and Ceramic Arts. Hanyang University's International
Summer School starts in mid-June and lasts for four weeks during
which students take a five-day field trip through the Korean countryside.
Language Requirements: None
Room and Board: Housing is in on-campus dormitory. Meals are provided
at the dormitory cafeteria, but students may also purchase meals
at the student cafeterias on campus or at restaurants near campus.
Cost: Students pay MC's summer tuition and fees directly to MC.
Students are responsible for room and board ($300), field trip fee
($250), airfare, books, and other living expenses.
When to go: summer (mid-June through mid-July)
Return to top
|
News & Briefs