A Case of A Government-Mandated Online Transaction Standard Acting As A Technical Barrier To Trade in South Korea
Technical Barriers to Trade can form formidable hurdles for Organizations seeking to sell products and provide services to specific countries. These barriers are frequently erected based on government-mandated standards. This paper discusses the use of Online Transaction Standards in South Korea and explores the effect the Standards had on competition and diversity when it came to the availability of service providers for the country’s domestic market. The paper concludes that a small number of companies benefitted from the unique business ecosystem set up within an effectively closed market and this reliance on this ecosystem may have been a problem for Korean companies when trying to expand overseas.
Key words: Internet, Security, Encryption, Trade, Barrier, Technology, Korea.
|Title:||A Case of A Government-Mandated Online Transaction Standard Acting As A Technical Barrier To Trade in South Korea|
|Journal Name:||International Journal of Science and Business|
|ISSN:||ISSN 2520-4750 (Online), ISSN 2521-3040 (Print)|
|Media:||Online & Print|
|Date of Publication:||30/01/2020|
|Paper Type:||Research Paper|
Cite This Article:
Nigel Callinan (2020). A Case of A Government-Mandated Online Transaction Standard Acting As A Technical Barrier To Trade in South Korea. International Journal of Science and Business, 4(1), 173-184. doi: 10.5281/zenodo.3631315
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About Author (s)
Nigel Callinan, Assistant Professor, Department of Global Business, Hannam University, South Korea.