“It is very likely that Web 2.0 will overturn our traditional Internet,” Lee told reporters at a recent press conference, though he added the concept still lacks a convincing standard and business model. “It is still being shaped by a user-oriented approach.”

What Is Web 2.0?

Web 2.0 generally refers to a second generation of services available on the World Wide Web that let people collaborate and share information online. In contrast to the first generation, Web 2.0 gives users an experience closer to desktop applications than the traditional static Web pages. The term may include blogs and wikis (a web application that lets anyone add and edit content). To some extent Web 2.0 is a buzzword, incorporating whatever is newly popular on the Web, and its meaning is still in flux.

Source: Wikipedia