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DECEMBER 11, 2000 VOL. 156 NO. 23
Three years ago, there were only 100,000 free e-mail accounts in South Korea. That figure has grown 200 times. The country has 25 million mobile phone subscribers, some 55% of the population. The Internet has become an integral part of our society, and not only for chatting on the phone or by text. E-commerce is more advanced here than virtually anywhere else in Asia. More than 60% of the securities trading is done online. Countless Koreans have gotten in touch with old classmates or army buddies. How did this happen? Firstly, we can thank King Sejong, the 15th century inventor of the Korean alphabet, Hangul, which made it easy for Koreans to use computers. Korean parents believe so strongly in education that they have unconditionally invested in PCs for the home. South Korea is also small, with a population concentrated in one city: some 20 million in Seoul and its suburbs. The economic crisis of 1997 was an important turning point. Well-educated young Koreans are now sick and tired of the tough business barriers maintained by the chaebol, Korea's conglomerates. I know, because when I started Daum, which now has 20 million subscribers, I was a 27-year-old dropout from a Ph.D. program in cognitive science. All I had was an idea I got from studying in France: that diversity makes people happy, and that the Internet would spread diversity much faster than anything else. That was just five years ago. The emerging generation is bursting with new and diverse ideas and the desire to go its own way, and in its ranks are the people working day and night at tens of thousands of Internet start-ups. It's a tribute to Koreans' willingness to embrace new technologies for their future growth and survivaland because it's more fun than the ways of old. Lee Jae Woong is ceo of Daum Communications Corp., South Korea's largest Internet portal and e-mail service provider Write to TIME at mail@web.timeasia.com TIME Asia home Quick Scroll: More stories from TIME, Asiaweek and CNN
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