ECM6450 - Milestone - 2 Assignment
ECM6450 - Milestone - 2 Assignment
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
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
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
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:
Partnership with private technology companies for block chain and AI solutions.
The training programs to develop small and medium enterprises e-commerce capabilities.
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
Strategic Focus:
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
digital skills will contribute to improving e-commerce, which for the most part ought to be aimed
Expected Outcomes:
with the use of mobile payments as methods of payments from consumers, the e-commerce
Growth in Local Marketplaces: If the internet advanced, then such shops as MossoSouk and
Job Creation: Growth of the e-commerce segment will require new agents who will provide
Required Resources:
Partnership between the government and other stakeholders, particularly in the construction
mobile money.
Global donors to fund the educational programs in the area of computing and science as well
Conclusion
South Korea and Chad are two different markets that demonstrate the different levels of the
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
global-integration-hurdles/:~:text=In%202023%2C%20South%20Korea's%20e,U.S.%2C%20the
%20UK%20and%20Japan