South Korea records ecommerce growth in 2013 - report

Wednesday 26 February 2014 00:35 CET | News

South Koreas ecommerce sales increased considerably in 2013, but the growth rate registered a decline as compared to 2012, according to the report by Statistics Korea.

The same source indicates that online sales accounted for about USD 1.12 trillion in 2013, up 5% from the amount tallied in the previous year. The amount is the largest ever since related data started to be compiled in 2001, but the growth rate slowed from the previous years 14.7 % gain.

The study shows that business-to-business (B2B) transactions, which made up more than 90% of all cyberspace sales, jumped 4.2% from a year earlier. Business-to-government (B2G) sales also gained 13% on-year.

Results point out that business-to-consumer (B2C) deals grew 15%, while consumer-to-consumer (C2C) transactions jumped 11.7%. Online shopping sales mostly involving B2C and C2C transactions increased 13% on-year.


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Keywords: South Korea, ecommerce, sales, transactions , report
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce