Mark Zuckerberg, CEO of Facebook Inc (NASDAQ:FB) discussed potential partnerships with Sin Jong Kyun, president of Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) in an effort to improve the mobile advertising revenue of the social network giant.
A recent study released by e-Marketer showed that Facebook Inc (NASDAQ:FB) gained $47 million in mobile advertising revenue in 2012, and projected that it will increase by 333 percent to more than $2 billion this year.
During his tour in Asia, Zuckerberg visited the offices of Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) in Seoul, and had a quick meeting with Kyun, according to a report from Jungah Lee & Sangwon Yoon of Bloomberg citing a statement from the head of the handset division of the South Korean smartphone manufacturer.
Partnership Between Facebook And Samsung
In addition to a potential partnership between Facebook Inc (NASDAQ:FB) and Samsung Electronics Co. Ltd (LON:BC94) (KSE:005930), the leaders of both companies also discussed the state of the information technology industry.
Zuckerberg also had a meeting with the President of South Korea Park Geum Hye. During the meeting, President Park discussed her creative economic vision and ways to support startups. The President introduced South Korea’s plan to create a venture-business friendly environment giving young people the opportunity to start their own businesses, succeed with good ideas and avoid failure.
President Park also told Zuckerberg that she is aware of the “well-known challenging spirit of Facebook which does not dare to fail.”
Facebook Will Continue To Invest In South Korea: Zuckerberg
Zuckerberg said the Facebook Inc (NASDAQ:FB) will continue to invest in South Korea because the country is an important market for the social network giant. According to him, Facebook will provide training opportunities and promote cooperation with small and medium-sized enterprises (SME) in the country.
He also hoped that the country’s venture businesses and SME would be able to enter the global market through the social platform of Facebook Inc (NASDAQ:FB), and “will find ways to cooperate with Korea for the creative economy initiative.”
Last week, Zuckerberg assured shareholders of Facebook Inc (NASDAQ:FB) that the company is doing great in its services, number of users, engagement and revenue despite the existence of many competitors. He also told shareholders that the social network has great plans for Facebook Home, which is still in the tweaking mode and incorporating users feedback to improve the product and make a big push.