According to the IPO-specialized media The Stock and Newsis, the size of the audio content market in Korea exceeded KRW 25.6 billion (USD 19.73 million) in 2019, KRW 30 billion (USD 23.13 million) in 2020, and is expected to reach KRW 108.0 billion (USD 83.32 million) in 2024.
In response to shifts in the digital landscape of the book market in South Korea, audiobooks are gaining significant traction, emerging as an untapped market. The proliferation of smartphones and heightened accessibility have cemented audiobooks as a preferred medium for consumers.
The key allure of audiobooks lies in their capacity for multitasking, allowing consumers to seamlessly integrate literary consumption with other activities. Whether driving, commuting, or engaging in various daily pursuits, individuals can conveniently absorb audiobook content without the encumbrance of physical books.
As the audiobook sector burgeons in South Korea, Urim Books, a prominent Christian publisher and an esteemed international member of ECPA, has adeptly catered to the demands of the Christian audience.
Initiating audiobook production in 2021, Urim Books has since released a plethora of Korean audiobook titles, creating a buzz within the publishing domain. Notably, Urim’s audiobook titled Wisdom ranked at the top spot on the monthly bestseller list in March this year in the audiobook section of Kyobo Bookstore, a major player in South Korea’s bookstore landscape.
Furthermore, Lectures on the First Corinthians (vol 1) secured the premier position on the monthly bestseller list for two consecutive months, in both August and September. Fountain of Wisdom continued this trend, reigning as the bestseller for two consecutive months in October and November.
Adding to this impressive lineup, Lectures on the First Corinthians (vol 2), Keep Watching and Praying, God the Healer, and Awaken Israel each made noteworthy appearances on the 2023 monthly bestseller list. The compelling narration of Johnny Kim and Hyungkyung Lee contributed significantly to the success of these titles.
Expanding beyond the Korean market, Urim Books is actively producing audiobooks in English, Chinese, Russian, French, and Hebrew. This strategic move aligns with the rising demand from an increasingly diverse international audience for audiobook content.
Nov monthly bestseller #1: https://ebook.kyobobook.co.kr/
