Over the last year and a half, Korea has seen a smartphone craze throughout the country. iPhones, Android-based smartphones have proliferated all over Korea. So many applications with location-based services being just one area firms are banking on.

There are countless location-oriented apps. For example, Hana Bank has released a location-oriented application called HanaNCity, which parents can use to keep track of their children’s whereabouts in addition to their daily schedules, homework and journals.

Korea Internet & Security Agency (KISA) stated in a report that the success of LBS will depend on how well they converge with social media, commerce and games.

Another area that riding the recent smartphone wave is the so-called “mobile offices,” that have grown popular as a way for businesses to boost efficiency and lower their costs. Many companies have set up mobile offices, including Samsung Electronics, Posco, and Hyundai Heavy Industries to name a few.