The purpose of this study is to discuss on the possibilities of regulaions and directions of Internet policy by the analysis of its social impacts. Some recent researches show that Internet plays a role of the established mass communication and influences on the functions of journalism and political activities. However, it is also true that Internet has some negative effects: digital rights violations, invasion of privacy, false propaganda, frauds in electronic commerce, smear words, unrelievable source, digital divide, and so on. Therefore, it is necessary to regulate the Internet for the elimination of these negative effects, however, it is not easy to find any legal basis for its regulation. Moreover lots of policy maker and researchers think that the regulation of Internet could hinder the development of Internet industry and reduce the opportunities of expression in the cyberspace.
In this point of view, this study suggests some directions of policy for realization of possibilities and potentialities of Internet as public media: First, the criterion and norm of regulations for the negative effects should be clearly defined before its regulation. Second, the regulation should be minimized for the freedom of expression in the Internet. Third, any regulations of Internet should be analyzed and practiced through an international policy framework and treated in a technology neutral manner that accounts for other important societal interests such as privacy and protection of civil liberties. Fourth, the regulation policies of Internet should be based on the self-regulation. Fifth, there should be continued support for private sector leadership and the development of methods such as "cyber-ethics" curricula, appropriate technological tools. Sixth, the media education should be intensified for Internet users to prevent and minimize the risks of negative effects.