SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s online sales of goods abroad have more than doubled over the past year, official data showed Wednesday.
The amount came to 550.2 billion won (US$480 million) in the third quarter of 2016, up 105.4 percent from a year earlier, according to the Statistics Korea.
The sharp growth was boosted by the popularity of local cosmetics in China.
Overseas online sales in China jumped 151.7 percent on-year to 437.1 billion won.
Cosmetics accounted for 74 percent of South Korea’s total online sales in foreign nations.
The direct purchase of goods from foreign wholesalers via cyberspace also rose 15 percent on-year to 447.3 billion won during the July-September period.
South Korea’s entire online shopping, meanwhile, stood at 5.3 trillion won in the quarter, a 21-percent increase from a year earlier.