SEOUL, Mar. 23 (Korea Bizwire) — The amount of payments made electronically hit a record high in 2016, central bank data showed Wednesday, underscoring the growing trend of South Koreans using electronic means for financial transactions. The daily average amount of electronic financial transactions came to 343.5 billion won (US$306 million) in 2016, up 36.1 [...]
SEOUL, Mar. 7 (Korea Bizwire) – Over half of South Korean consumers now shop online through a mobile device, rather than a desktop computer, according to Statistics Korea. In January of this year, online shopping through mobile devices accounted for more than 58 percent of all online sales in South Korea, the highest percentage since records [...]
SEOUL, Feb. 14 (Korea Bizwire) – Despite the ballooning volume of e-commerce, deficits for online shopping malls are also bloating with even a rough estimate pointing to over 1 trillion won (US$876.88 million) last year, industry officials said Tuesday. Industry records showed the country’s three leading social commerce sites — Coupang, Ticket Monster and WeMakePrice [...]
SEOUL, Dec. 23 (Korea Bizwire) – South Korea’s exports through e-commerce platforms have increased sharply this year, apparently helped by the government’s policy support, data showed Friday. Outbound shipments via the Internet and other e-commerce sites totaled US$985 million in the first 11 months, according to the Korea Customs Service (KCS). The volume is projected [...]
SEJONG, Dec. 2 (Korea Bizwire) – Online shopping in South Korea reached a fresh record high in October on a nationwide discount event, a government report showed Friday. Total online transactions reached a record 5.6 trillion won (US$4.8 billion) in October, up 17.3 percent from 4.8 trillion won a year earlier, according to the report [...]
SEOUL, Oct. 10 (Korea Bizwire) – The amount of payments made electronically hit a record quarterly high in the second quarter, central bank data showed Monday, in the latest sign that a growing number of South Koreans are using electronic means for financial transactions. The daily average amount of electronic financial transactions came to 322 [...]
SEJONG, Oct. 4 (Korea Bizwire) – Online shopping in South Korea soared at the fastest clip in more than four years in August as the scorching heat in the summer encouraged more people to enjoy internet and mobile shopping, a government report showed Tuesday. Total online transactions reached 5.58 trillion won (US$5.01 billion) in August, [...]
SEOUL, Sept. 2 (Korea Bizwire) – Marked by its convenience and easy accessibility, e-commerce has rapidly matured in pace with technological progress. The global market for e-commerce has been growing by an annual average of 10 percent, and is anticipated to become a $2-trillion industry by the year 2018. Korea has also followed a similar [...]
SEJONG, Sept. 1 (Korea Bizwire) – Online shopping sales in South Korea jumped 17.4 percent on-year to hit a record high in July on upbeat demand for leisure and tourism bookings and electronic devices, a government report showed Thursday. Total online transactions reached 5.56 trillion won (US$4.98 billion) in the seventh month of 2016, compared [...]
SEOUL, Aug. 31 (Korea Bizwire) – With Koreans increasingly likely to prefer online shopping over the physical experience, parcel delivery services are among the rapidly prospering businesses in Korea. Tuesday’s decision to abolish the Supply-Demand Regulation Policy, which made it difficult for service companies to increase their use of smaller trucks (1.5 tons and less), [...]