Meg Whitman, president of eBay

Meg Whitman, chief executive officer (CEO) of eBay of the United States, the world`s largest Internet auction site, stressed Wednesday: ``You shouldn`t forget the fact that the Internet business is expanding rapidly, although the dot com firms are facing difficulties.``

In a press conference held at Seoul`s Chosun Hotel, she noted that the Internet industry is still in an infant stage, adding that he is optimistic about the future of the dot com business.

Last month, eBay acquired Auction.co.kr, the largest Internet auction site in Korea. Said Whitman: ``Korea is an important market whose Internet industry is growing at the fastest pace in the world.`` She said that Auction.co.kr will be able to reach the break-even point at the end of this year or early next year.

She advised that Korean dot com companies are required to have a sound business model and plan in order to form business relations with overseas corporations.

Whitman has a bachelor`s degree in economics from Princeton University and received a master`s degree in economics at Harvard University. He worked at Walt Disney and Procter and Gamble (P&G). He has been president of eBay since March 1998.

Cheon Kwang-Am iam@donga.com