korean internet business

I read an article about the internet business in Korea. It explains how countries all over the world are fighting to take the lead in e-commerce. Korean companies are accelerating their efforts to facilitate the e-commerce while the government endeavoring to com up with industrial policies central to e-commerce by establishing the basic Act on electronic commerce in 1999, "Comprehensive Policies for e-Commerce Development" in 2000 and "e-Business Initiative in Korea" in 2001 It says that If the Korean government's strategies are implemented as planned, e-commerce -- which has been delayed due to absence of cooperation among enterprises and lack of investment capability of small and medium enterprises (SMEs) -- will be disseminated throughout the nation’s entire economy. The report given was designed to examine the possibilities for growth of e-commerce by reviewing the current status of and prospects for e-commerce in Korea. It will examine the e-commerce infrastructure, followed by the status of each e-commerce area, major e-commerce issues, and will examine problems and key policies of the government. Thanks to a rise in the distribution of computers and the rapid development of information technology, the E-commerce is expanding in Korea as the number of Internet. Thanks to the vastly increased distribution of computers and the growing number of PC communication subscribers since the late 1980s, The Internet is being widely disseminated at a rapid pace in Korea. These explain the Korean well-established IT infrastructure and positive government policies supporting the information and communication sector. Korea is one of the most advanced countries in terms of establishment of broadband networks; the cable internet and satellite internet are growing so quickly. This expansion enables users to gain faster and easier Internet access to high-quality and high-quantity contents, thereby contributing to the nation becoming an information superpower. Korea has established in accordance with global legislation related to e-commerce, various Acts and regulations, such as consumer protection and electronic payments. They are promoting projects such as creating infrastructure by establishing and standardizing B2B networks in industries, developing technology, and fostering manpower. They are also promoting projects on international cooperation for the global B2B market and the expansion of e-commerce in other regions. They don’t cease to fight for the improvement in the market in accordance with their government, private institutes and research centers.

reference:http://www.ibls.com/internet_law_news_portal_view.aspx?s=latestnews&id=1850
posted by GEMIMA 29700735 entry 2