SOUTH KOREA

Population size: 51.3 million
GDP: USD 1.6 trillion

SOUTH KOREA

Population size: 51.3 million
GDP: USD 1.6 trillion

2021

Summary

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.

Payment Success Rates

First Debit
Approval Rate

Percentage of Donors Successfully Transacted on their first debit

Anniversary
Approval Rate

Percentage of Donors Successfully Transacted on their second debit and onward

2021

91%
95%

2020

81%
95%

2019

81%
94%
First Debit
Approval Rate

Percentage of Donors Successfully Transacted on their first debit

Anniversary
Approval Rate

Percentage of Donors Successfully Transacted on their second debit and onward

2021

KRW 28,691,382,866

USD 24,100,762

2020

KRW 25,906,568,130

USD 23,626,790

Donations
Processed

Total donations generated for nonprofit partners.

2019

KRW 23,210,286,490

USD 21,167,781

2021
In Numbers

KRW 23,914
USD 20
Average Gift
KRW/USD
KRW 617,856
USD 519
Lifetime Value (LTV)
KRW/USD
36
Average Lifespan
(Months)
49,666
New Donors

2022
Outlook

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.

2022

Outlook

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.

PMK Bldg. 1st Floor, Nonhyun-ro 419, Gangnam-Gu, Seoul, Korea (06246).