SEOUL, Aug. 26 (Korea Bizwire) — South Korean overseas direct purchasers are turning towards Japan to enjoy more affordable prices amid the yen’s prolonged weakness. Shinhan Card Co., a major South Korean credit card company, said the number of settlements made by its customers for overseas direct purchases from Japan during the first seven months [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korean customs agency reviewing the idea of strengthening the tax obligation for the nation’s overseas direct purchase agents. The Korea Customs Service said Monday that it has outsourced a study on the direction of customs administration in response to changes in the e-commerce environment. In the request for [...]
SEOUL, May 28 (Korea Bizwire) — The value of overseas direct purchases reached an all-time high in the first quarter of this year. As overseas travel remains restricted due to the COVID-19 pandemic, local consumers purchased more through overseas direct purchase websites. The value of overseas direct purchase stood at 1.41 trillion won (US$1.26 billion) [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s customs service said Thursday that it will conduct ex post facto review for those who make overseas direct purchases in a repeated manner, as part of efforts to prevent them from importing goods without paying duties by pretending the items they purchase for resale purpose are intended [...]
SEOUL, Jul. 25 (Korea Bizwire) – Overseas direct purchases are going through a major trend shift as more South Koreans are leaving work early and devoting more time to leisure activities ever since the introduction of the 52-hour workweek policy. South Korean online shopping mall Gmarket reported on Wednesday that overseas direct purchases have increased by 12 [...]
SEOUL, May 10 (Korea Bizwire) — As an increasing number of South Korean consumers are engaging in direct purchases overseas, there are also a higher number of products recalled by foreign companies being imported, products that are therefore banned from being distributed in South Korea. While the government bans sales of products placed on recall [...]
SEOUL, Jul. 4 (Korea Bizwire) — Cheaper prices are behind the increasing popularity of direct purchases of foreign merchandise from overseas vendors, according to a survey conducted by the Korea Consumer Agency that queried 1,000 adults over 20 years of age about their shopping habits. Among the respondents, 78.1 percent (multiple answers allowed) said that [...]
SEOUL, Jun. 13 (Korea Bizwire) — With an increasing number of South Korean consumers opting to make their online purchases thorough overseas websites, complaints related to direct foreign purchases are also on the rise. The Korea Consumer Agency’s Cross Border Transaction Consumer Portal saw a 305 percent rise in complaints last year with 1,463 cases, [...]
SEOUL, Feb. 28 (Korea Bizwire) – While South Korean Internet shopping mall users expressed high satisfaction rates for sites selling food and books, they gave poor rates to private shopper sites for overseas direct purchase (ODP) and social commerce operators. According to a Seoul Metropolitan Government report released on February 26 that evaluated 100 Internet [...]
SEJONG, Jan. 25 (Korea Bizwire) — Overseas direct purchases made by South Koreans reached an all-time annual high of US$1.54 billion in 2014, as consumers sought better bargains and a wider choice of products, the customs service said Friday. The total represents a 39 percent increase compared to $1.04 billion brought in from abroad in [...]