SEOUL, Mar. 17 (Korea Bizwire) — South Korean consumers’ direct purchases of electronics and IT products through overseas online shopping malls came to a record-high level in 2018, data showed Sunday.
According to the Institute for Information & Communications Technology Planning & Evaluation, South Korean consumers purchased 442.1 billion won (US$389 million) worth of home appliances, electronics, and mobile devices directly from overseas in 2018, up 59.5 percent on-year.
Direct purchase refers to buying goods from foreign websites instead of going through local retailers, as they are normally cheaper.
Amid the increase of direct purchases of electronics by South Koreans, the institute said a rising number of foreigners are also buying more products from local websites.
In 2018, foreigners bought 97.8 billion won worth of South Korean home appliances, electronics, and mobile devices directly from local websites, rising a whopping 30.3 percent from a year earlier.