Entrepreneurial Opportunities in Cyberspace: Korea and the United States

Judith N. Martin and Theresa Youn-ja Shim

Chapter 8 in Korean Entrepreneurship, 2010, pp 149-178 from Palgrave Macmillan

Abstract: Abstract The impact of new media on contemporary life and human relationships is staggering. According to the most recent statistics, there are currently more than one-and-a-half billion Internet users worldwide, with 2.2 billion predicted by 2013 (17 percent of these will be Chinese) (Internet World Stats, 2010; The World in Figures: Industries, 2010). In 2008 China overtook America as the country with the largest number of Internet users, currently over 360 million (The meek shall inherit, 2008). South Korea has 77 percent of its population online (37.48 million), and the United States has a slightly lower percentage of its population online; as of December 2009, 74 percent of adults and 93 percent of young people in the United States were using the Internet (Rainie, 2010). In fact, a recent study showed that U.S. children, from the ages of 8 to -18, spend almost eight hours (every waking minute except for time in school) on some electronic communication device (smart phone, computer, television, etc.) (Rideout, Foehr, & Roberts, 2010). Korean tech-sawy young people spend 14 hours a day, according to the National Internet Development Agency of Korea’s 2008 Survey on computer and Internet usage (National Internet Development Agency of Korea, 2008).

Keywords: Social Networking; Young People; Business Model; Cell Phone; Social Networking Site (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11550-7_8

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DOI: 10.1057/9780230115507_8

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