SEOUL (Asia Pulse) - Intel Corp. Chief Executive Officer Craig Barrett on Thursday expressed the hope that Korean Internet leaders will lead the Asian e-business market.
"Korean companies have the opportunity to lead Asia in deploying e-business. Business leaders need to convert their businesses to e-businesses to remain competitive in the global marketplace," Barrett said in a keynote speech at a forum held here.
He said Korea is the first Asian country to experience the hyper-growth of Internet business, citing the country's e-commerce is expected to grow 315 percent from a year earlier to US$1.2 billion this year.
Korean companies using internet business solutions can immediately engage consumers who are choosing to make purchase decisions online, said the top manager at the U.S. semiconductor giant.
"Korean businesses need to implement e-business strategies to gain a competitive advantage in today's new Internet-driven economy," the CEO said. "By building up strong e-business infrastructures and solutions, companies can increase their productivity."
The Intel Korea forum, sponsored by the Federation of Korean Information Industries, drew nearly 500 representatives from local information technology firms.
He also said the future survival of Korean Internet companies wholly depends on their ability to create and tap into the infrastructures of internet technologies.