(image: Korea Bizwire)
SEOUL, Dec. 20 (Korea Bizwire) — The size of South Korea’s e-document market contracted slightly last year compared to a year ago, data showed Monday, as non-face-to-face documentation work increased sharply due to the COVID-19 pandemic.
According to data released on Monday by the Ministry of Science and ICT and the Korea Internet & Security Agency, the country’s e-document businesses chalked up revenue of 9.5 trillion won (US$7.30 billion) last year, down 1.79 percent year on year.
Last year’s figure, however, was up from the 9.3 trillion won recorded in the pre-pandemic year of 2019.
In contrast to the year 2020, when e-document revenue jumped thanks to the increase in non-face-to-face documentation work, 64.8 percent of e-document businesses said that their revenue remained unchanged last year, far higher than the 9.2 percent that recorded an increase in revenue.
The share of e-document businesses that already launched into or prepare to launch into overseas markets stood at 11.5 percent, an increase from a year ago.
The survey was conducted with the participation of 509 domestic businesses with a specialty in e-documents. The total number of e-document businesses in South Korea was 2,675 last year.
J. S. Shin (js_shin@koreabizwire.com)
