Although an academic journal has had an important role in the diffusion of knowledge and the confirmation of knowledge advancement, it has revealed several difficulties : long processing time for publishing, uni - directional communication, closed review process etc. But an electronic journal (E-Journal) can solve these problems and add several new advantages such as the multimedia expression of documents, and pre and post publication review. Moreover, it should be noted that an E-Journal is not an alternative medium which simply replaces an existing journal, but a new paradigm for scholarly communication. Although this paper reviews several issues related to E-Journal, the introduction of the concept of universal service and informal document style for flexible communication are noticeable. For effective diffusion of E-Journal, information infrastructures such as high - speed telecommunication networks and digital libraries are urgently needed. Government subsidy as in Great Britain is necessary for E-Journal publishing.