This study examined the risk perception in internet shopping by Chinese and analyzed the effects of risk perception on internet word-of-mouth acceptance and transmission. This analysis was conducted with data collected from 373 Chinese individuals in their 20s. Data were analyzed with factorial analysis, cluster analysis, ANOVA, multiple regression analysis, Chi-square test, and Cronbach's ${\alpha}$ using SPSS 18.0. The results were: 1) The factor analysis of risk perception extracted four factors: fashion/social psychological risk, product risk, transaction risk, and economic risk. The cluster analysis classified them into: Group with low-risk, Group with high-risk, Group with economic risk, and Group with medium-risk. 2) Group with high-risk and Group with economic risk had a higher word-of-mouth acceptance than other groups. The Group with a high-risk had more word-of-mouth transmission than other groups. 3) It was found that when word-of-mouth was accepted, the factual information about fashion products (size and material) was most referred to, and that the overall evaluation of satisfaction and dissatisfaction was most conveyed when word-of-mouth was conveyed. 4) Internet word-of-mouth acceptance was affected by product risk, economic risk, and transaction risk. Internet word-of-mouth transmission was affected by economic risk, and fashion/social psychological risk, product risk, and transaction risk.