This paper points out the stages of e-business growth in two countries: Korea and India. Qualitative approach of interview method was adopted and interviews were carried with 15 ebusiness experts for each country. The results are statistically analyzed. Inside of the stages of ebusiness growth, the influencing factors like social, economic, political and technical aspects are deeply investigated. All these factors have sub-factors that affects the growth of the e-business. With varied factors and sub- factors deep study, it is highlighted that Korean e-businesses are in transformation phase and Indian e-businesses are in growth stage. After the result, the further implications are narrated.