The venture will result in Fortune’s fourth foreign language publication, and the second in Asia-Pacific after Fortune China. According to managing editor Song Tae-gueon, while the content and layout of the magazine will be similar to its US counterpart, half its content will relate directly to Korean issues.
Hugh Wiley, the publisher of the title, noted in a statement that the Korean business market had grown significantly over the past ten years, fuelling demand for a magazine such as Fortune. Song added that now was an opportune time to launch in Korea as the current economic circumstances mirrored those of the Great Depression, which saw the establishment of Fortune in the US.
Fortune Korea will compete with titles such as Money, Forbes Korea and Economy Plus. While an official launch date has yet to be finalised, it is expected to hit the shelves in either April or May.
