Innovative Minds Part I: Stephen Revere
Author of the Korean language educational books Survival Korean and Survival Korean: Basic Grammar Skills, Stephen Revere is also one of the founders and the managing editor of 10 Magazine and Chip’s Maps. Since its start in October of 2008, 10 Magazine has emerged as a force in the English-language media scene in South Korea. The content focuses on monthly entertainment such as concerts, exhibitions, parties and festivals around the country, while also showcasing entertaining activities to experience while visiting or residing in Korea. 10 Magazine has developed both a passionate readership and subscriber base over the last 6 years of operation, and continues to grow with a new redesign to the print magazine and a brand new website.
Stephen Revere arrived in Korea in 1995 and immediately began studying the Korean language. He completed the highest level of intensive Korean language programs at both Seoul National University and Yonsei University, as well as earning a MA Degree in Teaching Korean as a Second Language graduating from Yonsei University in 2004. He has appeared on a variety of Korean television programs in both Korean and English, including a 3-year stint as the teacher on Arirang TV’s Let’s Speak Korean.
Q: You were a prominent educator and author here in Korea, so what prompted you to start 10 Magazine?
When I started 10 Magazine over 6 years ago I realized that there were magazines like this all over Asia, in places like Tokyo, Shanghai and Beijing. Every major metropolis in Asia had an event listing magazine except Seoul. I assumed success would be obvious, as every entrepreneur does, but it turned out to be much more challenging as the existing magazines quickly followed suit by adding similar content, expanding page count, etc.
Q: What were some of the biggest challenges you faced when in the early stages of development?
The biggest challenge every business entrepreneur faces is of course the finances. Korea is a fiercely competitive place, and keeping your costs down while trying to get the best team members possible is always a challenge. You have to have a fun, entertaining workplace and there have to be rewards besides just financial; keeping morale high is an entrepreneur’s most important and most challenging job.
We have an additional unique challenge as a media outlet. We don’t sell directly to customers; we gain readers, and then sell access to those readers to our advertisers. In this way we are constantly chasing two sets of customers, which is obviously unique the industry we have chosen. It sure is fun though!
Q: How has the magazine business changed over the past six years?
Circumstances are always changing with a big recent change coming from Facebook. In the beginning, Facebook asked us to pay to advertise on their site so we could get more fans, so we paid to put up a little advertisement that said “like 10 magazine”. Now they don’t want you to pay to get likes, they want you to pay to “boost posts” - show your material to your fans. Facebook decides what will land in your Newsfeed, rather than leaving it up to you. This little bait-and-switch has me very soured on Facebook and we’re looking towards other SNS outlets for growth in readership going forward.
Q: What makes 10 Magazine different from other foreign language magazines here in Korea?
A big focal point of 10 Magazine is our Agenda. Everyone knows that if you are looking for a magazine that tells you where to go, what to do, and how to have fun in Korea, then you look for 10 Magazine. There are other magazines out there that are very diverse, and they are good sources of information for people to use, but I always try to say that with our magazine it is about, “Where to go, what to do and how to have fun!” This is the reputation that we have built up and that is why a lot of concert promoters, restaurants and places about having fun come to us when they want to advertise.
Q: If you had to give some advice to budding and upcoming innovators/entrepreneurs here in Korea, what would it be?
You have got to have something to set yourself apart from the competition, something that is relatively extreme. Entrepreneurs tend to be optimistic and always think that things are easier than they seem. A lot of success is about being in the right place at the right time. For example, we are starting a new website next month for our Chip’s Maps publication that we wouldn’t have been able to make 2 years ago. Or we could have but it would have been 50 times more expensive. As a startup, it’s just about keeping your business alive and waiting for the right opportunity to come along.
Q: What are your plans for the future for both yourself and 10 Magazine?
We are really excited about this new Chip’s Maps website I mentioned above. The interactivity that it allows is just great, and we really think it will change the way people look for restaurants and bars in the greater Itaewon area. We are going to add some other interesting aspects similar to what Tripadvisor are doing but with a more local twist. Chip’s Maps will include a rating system, however the only people who will be allowed to rate are people who live in that area. There’s also going to be a review section where anyone can write reviews. Tripadvisor certainly isn’t going anywhere, but we’re hoping to give people another reliable resource to look at before visiting places.
*Interview by Matthew Fennell, Asia Society Korea Center's Contributing Writer.