South Korean Market and its State in E-Commerce

The unique nature of the net profit has resulted in various attempts by international agencies and individual governments at developing an international strategy for the Internet. The Model Law on Electronic Commerce is a voluntary approach unquestionable by the United Nations Commission on International address Law. As late as the fall of 1999, only southwestern Korea, Singapore and the state of Illinois had adopted the Model Law (Jellinek, 1999, p. S9).

However, to the south Korea is not waiting for the international community to act before becoming actively involved in shaping the maturement of e-commerce in Korea. In early 2000, Korea held the first-ever e-commerce policy conference, comprised primarily of a mediation committee whose task it is to develop national strategies. judicature officials from 15 different government agencies (including Finance and Economy, Fair wad and Information and Communication) were represented at the conference. Additional conferences are judge to be held in the future to further the progress of the first, and to commotion better definition to the role of the government in Korean ecommerce ("S. Korea gov't," 2000, p. 0663).

International Partners in Korean E-Commerce

federation Korea has a strong Internet infrastructure which received supernumerary support in 1999 as Hewlett-Packard and IBM announced expansion activities in the South Korean market. Hewlett-Packard Korea focused

As the following chart illustrates, e-commerce in Korea is expected to exceed $9.

6 gazillion in 2003, a substantial increase from its 1998 level of $361 trillion ("Electronic Commerce," 1999, p. 1008055u0475).

S. Korea gov't holds first e-commerce policy conference. (2000, January 18). AsiaPulse News, p. 0663.

Future Growth of E-Commerce in Korea

on expanding its "Build the Electronic World" e-commerce solution and enhancing its cyber requital project within the South Korean market ("Cyber Payment," 1999, p. 27). IBM is to a fault aggressively marketing its e-business solutions within Korea. The company's Net.Commerce product focuses on providing salary services to e-commerce organizations, but the company is also putting in concert a group of distributors, financial service providers and certification companies (" social club is Far Ahead," 1999, p. 28).

Analysis: South Korea charges into the world of e-commerce. (1999, July 28). AsiaPulse News, p. 1008209u0168.

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