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ECM6450 - Milestone - 2 Assignment

ENABLING E-COMMERCE

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43 views6 pages

ECM6450 - Milestone - 2 Assignment

ENABLING E-COMMERCE

Uploaded by

saneric2019
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© © All Rights Reserved
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NEXFORD UNIVERSITY

ECM6450 MILESTONE 2 ASSIGNMENT

EXECUTIVE SUMMARY FOR SOUTH KOREA

AND CHAD E-COMMERCE

SANDRA CHINENYE ASUZU

September 18, 2024


Executive Summary

E-Commerce Development: South Korea

It can be said without doubt that the Republic of South Korea has one of the most progressive

and dynamically developing electronic commerce markets in the world. The nation’s internet is

excellent; 96% of the population is connected to the internet, and 89% of the internet shoppers

prefer to shop via mobile. The South Korea government has established policies that encourage

companies to go digital and perform business in e-sales through ensuring provision of secure

payment platforms and efficient networks to transport goods (Statista, 2024).

Strategic Focus:

1. Strengthening Cybersecurity: South Korea has severe legal regulations for cybersecurity;

however, increased work on AI-based methods for fraud prevention and the use of block chain

will strengthen online payments.

2. Fostering Innovation: Subsidies along with tax credits for research and development for start-

ups in the digital space can encourage new platforms and services.

3. Cross-border e-commerce: South Korea has the opportunity to export to global markets

through cross-border e-commerce. Steps have been taken to expand policies relating to cross-

border payments and customs, which will enable local players to explore opportunities in the

global market.

Expected Outcomes:

 Increased Market Competitiveness: New innovations will also ensure that South Korea

remains an e-commerce giant as it is today.


 Growth in the SME Sector: Higher participation in this market will be attributed to improved

support of SME’s in e-commerce activities.

 Global Reach: The increase in the number of e-commerce businesses originating from South

Korea is going to be supplemented by solid and smooth logistics and payment options in the

foreign markets.

Required Resources:

 Government financing of cybersecurity and artificial intelligence technologies.

 Partnership with private technology companies for block chain and AI solutions.

 The training programs to develop small and medium enterprises e-commerce capabilities.

F-Commerce Development: Chad

Chad’s e-commerce market is still in the development stage, and its potential is very limited due

to low internet connection (only 5% of the population) and lack of access to digital media. The

government has begun the process of working on making fiber- optics more readily available and

accessible, but issues like low broadband penetration and a lack of well-known knowledge in the

usage of digital devices remain. However, there are challenges that have affected Chadian e-

commerce in the past and can be expected to continue to do so in the future in some fields, but

the e-commerce market is expected to expand in other fields such as mobile money services as

well as the basic consumer goods (Lloyds Bank, 2024).

Strategic Focus:

1. Infrastructure Development: Further enhancements of the fiber optics will be necessary to


enhance broadband prominence in all regions, including rural regions. This shall be

complemented by relations with neighboring countries for cross-border internet connection,

through Cameroon, Sudan, and Algeria, among others.

2. Mobile Money Expansion: Extension of the mobile payments like Tigo Cash and Airtel

Money, among others, will enhance financial as well as e-commerce access despite the absence

of proper banking facilities.

3. Digital Literacy Programs: Creating broad information campaigns to enhance populations’

digital skills will contribute to improving e-commerce, which for the most part ought to be aimed

at raising consciousness on secure web use and encouraging business development.

Expected Outcomes:

 Broader E-Commerce Participation: According to advances in the Internet connections along

with the use of mobile payments as methods of payments from consumers, the e-commerce

sector is expected to rise in terms of volume and value gradually.

 Growth in Local Marketplaces: If the internet advanced, then such shops as MossoSouk and

DaariShop could expand the range of consumers they target.

 Job Creation: Growth of the e-commerce segment will require new agents who will provide

logistic services, work in IT companies, and work in digital advertising firms.

Required Resources:

 Partnership between the government and other stakeholders, particularly in the construction

of infrastructure such as the fiber optic systems.


 Engagement with telecom providers in order to expand the reach of mobile internet and

mobile money.

 Global donors to fund the educational programs in the area of computing and science as well

as the defense of cyber crimes.

Conclusion

South Korea and Chad are two different markets that demonstrate the different levels of the

development of e-commerce. While South Korea is interested in expanding its competitiveness

on the global level through innovation and security, Chad’s major priority can be seen in

providing its population with affordable, narrow-need infrastructure and basic digital services.

Both nations, having analytical policy implementation, can dominate the two aspects of their e-

commerce markets for economic growth, increase employment, and create international market

opportunities.

Reference

1. Statista. (2024). E-commerce in South Korea: Market insights and forecasts. Statista.

https://www.statista.com/outlook/emo/ecommerce/south-korea

2. Lloyds Bank. (2024). E-commerce in Chad: Market potential and insights. Lloyds Bank Trade.

https://www.lloydsbanktrade.com/en/market-potential/chad/ecommerce

3. ECDB. (2024). Personal care market in Chad: E-commerce revenue and growth projections.

EcommerceDB. https://ecommercedb.com/markets/td/personal-care
4. KoreaPro. (2024, February). Why South Korea’s e-commerce boom faces global integration

hurdles. KoreaPro. https://koreapro.org/2024/02/why-south-koreas-e-commerce-boom-faces-

global-integration-hurdles/:~:text=In%202023%2C%20South%20Korea's%20e,U.S.%2C%20the

%20UK%20and%20Japan

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