Population size: 51.3 million
GDP: USD 1.6 trillion
Korea had a strong donor acquisition year and achieved its highest donor acquisition month of the coronavirus pandemic era in the second half of 2021. In addition, our Korean charity partners committed to managing diversified fundraising strategies, including telemarketing and digital, that helped shore up acquisition and drive donor base growth. First debit approvals improved considerably, buoyed by the performance of TM and digital donors, while recurring debit approval rates remained constant. Moreover, there was a significant improvement in the donor ratio, which implies that fewer donors were cancelling relative to new donors signing up in Korea.
KRW 28,691,382,866
USD 24,100,762
KRW 25,906,568,130
USD 23,626,790
Total donations generated for nonprofit partners.
KRW 23,210,286,490
USD 21,167,781
Fundraising in Korea seems to be on the road to recovery, and new donor acquisition should be picking up in 2022. We expect the trend of setting up multichannel donor acquisition to continue growing in Korea in 2022 as more charities look to the opportunities in acquiring donors besides face-to-face recruitment.
For the shorter term, our nonprofit partners could consider taking advantage of our contactless and digital acquisition tool, signUP, to improve face-to-face recruitment capabilities and the donor experience. Charities could also look to optimise their omnichannel acquisition and retention strategies, specifically leveraging on telemarketing and digital fundraising.
Fundraising in Korea seems to be on the road to recovery, and new donor acquisition should be picking up in 2022. We expect the trend of setting up multichannel donor acquisition to continue growing in Korea in 2022 as more charities look to the opportunities in acquiring donors besides face-to-face recruitment.
For the shorter term, our nonprofit partners could consider taking advantage of our contactless and digital acquisition tool, signUP, to improve face-to-face recruitment capabilities and the donor experience. Charities could also look to optimise their omnichannel acquisition and retention strategies, specifically leveraging on telemarketing and digital fundraising.