SEOUL, Oct. 11 (Korea Bizwire) — The overseas direct purchase market is cooling down rapidly as the South Korean currency fell sharply. Users point out that the spiking exchange rate is depriving them of the incentive to use direct foreign purchase services. An office worker surnamed Choi recently gave up on purchasing a US$202 bag from the [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s internet conglomerate Naver Corp.’s big data technology will be employed in the customs clearance process of overseas direct purchases (ODP) as part of an initiative to limit tax evasion. The Korea Customs Service (KCS) signed a memorandum of understanding (MOU) with Naver on Tuesday, enabling the KCS [...]
SEOUL, Feb. 17 (Korea Bizwire) — The outbreak of the novel coronavirus has placed a strain on air cargo transportation worldwide, especially on routes to and from China and the U.S., and international logistics in general have slowed. “Because of the coronavirus, the number of aircraft departing from the U.S. has been reduced due to [...]
SEJONG, Sept. 17 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose 20 percent in the first six months of 2019 from a year earlier as more consumers opted to buy quality goods at cheap prices, customs data showed Tuesday. South Korean shoppers bought a total of US$1.58 billion worth of foreign goods [...]
SEJONG, Feb. 19 (Korea Bizwire) – South Koreans’ direct purchases of electronic goods and home appliances from overseas online sellers jumped more than 40 percent last year, government data showed Saturday. They bought 277.3 billion won (US$256.9 million) worth of home appliances, electronics and communications devices via foreign Internet shopping malls in 2017, according to the Statistics Korea’s online shopping report. It [...]
SEJONG, July 11 (Korea Bizwire) – While the popularity of direct buying is taking a step back, the market is seeing some changes in the products being sought by consumers, as well as the countries they’re ordering from. According to the Korea Customs Service (KCS), 8.15 million direct purchases were made during the first half of [...]
SEOUL, April 20 (Korea Bizwire) – With many Koreans enjoying online shopping overseas, the number of consumers issued customs clearance codes for overseas direct purchases has tripled in the past year. To purchase goods directly from overseas online retailers, some 3.38 million Koreans had been issued personal customs clearance codes as of February 2016. According [...]
SEOUL, April 8 (Korea Bizwire) – As more Korean consumers seek overseas direct purchases, consumer complaints are mounting in the sector. Most complaints were related to delivery issues and product defects. The Korea Consumer Agency announced on April 7 that the number of consumer counseling cases related to overseas direct purchases skyrocketed from 149 cases [...]