Striving to keep its IT lead, Seoul appears anxious to create a nation of gadget freaks -- In today�s South Korea, everyone from government agencies to telecommmunications carriers to equipment vendors is chanting in unison what may well be the new national mantra: �anytime, anywhere, and on any device.� The word ubiquitous has become just that. Creating a �u-Korea� is the goal in Seoul�s aggressive push to stay in the global vanguard of information and communications technology. Behind this government-led drive is a deep-seated fear that South Korea�s IT boom will slow as the country nears saturation. Already, South Korea counts 35 million mobile subscribers out of a total population of only 47 million. Broadband penetration is the highest in the world, with 12 million high-speed Internet subscribers. �Korea has entered into a mature period characterized by slow growth,� said Yong-Kyung Lee, president and CEO of telecom operator KT, in a keynote address delivered at the u-Korea Vision Conference 2005 on Wednesday. Working in close coordination with carriers and major vendors like Samsung and LG, government agencies like the Ministry of Information and Communication (MIC) and the National Computerization Agency (NCA) are pushing hard to move the ICT sector into new growth areas.
The world of eCommerce payments has evolved. As we look toward the latter half of this decade, we're witnessing a transformation in how digital commerce operates, with a clear shift toward localized payment solutions within a global marketplace. The numbers tell a compelling story. According to Juniper Research's latest analysis, global eCommerce transactions are set to reach $11.4 trillion by 2029, marking a 63 percent increase from $7 trillion in 2024. This growth isn't just about volume – it's about fundamental changes in how people pay for goods and services online. Perhaps most striking is the projected dominance of Alternative Payment Methods (APMs), which are expected to account for 69 percent of global transactions by 2029, with 360 billion transactions processed through these channels. eCommerce Payments Market Development What makes this shift particularly interesting is how it reflects the democratization of digital commerce. Traditional card-based systems ar...