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Brief Explanation of Korea's Online Market.
This article will be helpful for those who consider in entering Korea's online market. If you want to sell your product not just in your counry but in Korea, please read this. In this article I would like to point to some ciritical parts your must know. Also, this article will consist of two parts and today I will post 1st part.
1. Set the Computer in Safe and Check the URL address in which you want to shop.
- In most of Europe, America or around, the payment is very simple. Either you can pay via online electronic payment like Paypal, Amazon pay, or similaries. In Korea, however, the online electroic payment is quite picky.
First, you have check the level of internet firewalls and update. You have to upate your computer according to the real-time update of Korean payment system and keep the firewall safe level. Online payment fraud is occuring frequently in Korea, ranging from small to large amount, so, please set your computer to a safe state. Especially, check the site you want to purchase if it is correct site address or not.
For example, one of the famous e-commerce site is Auction. The right URL is www.auction.co.kr. If you see www.auuction.co.kr or www.auction.net, that's not the right site address.
2.Understanding of Payment Method.
Second, Before paymen is successfully made, it requires electronic authntication. This is certifed certificate tha you can get issued from your nominal bank or accredited institution for a period of 1 year. It could be free or small amount of fee depending on main purpose, but you have to renewal every single year.
This certificate can work in 'Internet Explore' only. Many of global customer using Crome, cannot not shop in Korea through this payement method. So, many critics coms from overseas users.
The common way is to use your credit card. But you have check whether your VISA or MASTER card is st up for use in Korea. Cards issued by world-renowned companies are available immediately but, may not sometimes. Please check it out.
Payment process is case by case depending on where you shop online. But, most of ecommerce site in Korea requires two times of verfication process before payment is done.