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Management Report

Management reports, briefs issued by Samsung Economic Research Institute

The Age of Web 2.0

The Age of Web 2.0

KWON Ki-Duk

Jan. 29, 2007

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Of late, Web 2.0 has drawn worldwide attention. Web 2.0 means "an open Internet where users proactively participate in producing, sharing, and consuming knowledge and information." In the era of Web 2.0, Internet users interact with each other on an "open platform" through which anyone can create and consume content. Search engines such as Google and Naver work as the basic platform promoting knowledge creation and sharing. Social networking sites, including MySpace and Cyworld, also play a key role as a platform serving such purpose. As public attention has shifted from text-based content to photo and video contents on the web, photo sharing website Flickr and video sharing site YouTube have also emerged as major platforms.

On open platforms, Internet users can either post their own texts, photos and videos, or relay knowledge and contents created by others to other websites. Web 2.0 has enabled general Internet users to create their own contents, thus further diversifying the information available on the web and accelerating the pace of information distribution.

There are key factors that have driven Web 2.0's creation. The proliferation of technology and multimedia devices is one main factor. As devices such as mobile phones, cameras, and camcorders have been widely used, ordinary Internet users can create rich multimedia contents at a relatively low cost. Development of Internet technologies and high uptake of broadband have also contributed to the rise of Web 2.0. Widespread use of the Internet is another factor. Today's people, especially young Internet users, have a strong desire to lead digital culture and create new trends. Last, Internet businesses have developed innovative business models and services, encouraging Internet users to create and share contents.


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