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Interactivity is a fundamental factor of customer relationship building and it is more important to on-line customer than off-line customer. Intimate and continuous interactivity reduces a perceived risk of internet shopping environments. The purpose of this study is to identify how interactivity influences perceived risk and perceived value, then how the perceived risk and the perceived value influence trust. To identify the purpose of this study, interactivity dimensions are measured by user control, responsiveness, personalization, and connectedness factors. Perceived risk and perceived value factors were used by meditated variables, and trust dimensions which are dependent variables are measured by cognitive and affective trust. A data collection was done within university students who had experienced purchasing product at eleven kinds of internet shopping malls which are suggested by researchers. They had asked to recall the most recent experience then answered to a self administered questionnaire. For the analysis, frequency, cronbach' and path analysis were used as statistical test tool. Additionally, SPSS 12.0 and AMOS 4.0 were used to analyze the hypotheses and the statistics are partially support the hypotheses. The major findings of this study are summarized as follows: First, responsiveness and connectedness were negatively related to perceived risk. However, user control and personalization didn't influence perceived risk. On-line customer is more sensitive to perceived risk than off- line customer. And, quick responses and continuous customer care service are necessary to release the perceived risk in an internet shopping environment. Second, user control and personalization were positively related to perceived risk. Third, perceived risk was negatively related to perceived value. Fourth, perceived risk was negatively related to cognitive and affective trust and perceived value was positively related to cognitive and affective trust. Based on these empirical results, this study suggests managerial implications for new marketing strategies which focusing on the long-term orientated customer relationship in internet shopping environment.