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Korea’s online shopping transactions hit record $15 bn in October

Collected: 2023.12.05

Distributed: 2023.12.06

Source: Go Direct

[Photo by Yonhap]

South Korea’s online shopping transaction volume reached a record high in October, thanks to the sharp increase in post-pandemic demand for travel, coupled with a growing preference for online vouchers and gift cards.

According to data from Statistics Korea on Monday, domestic online shopping transactions reached 20.09 trillion won ($15 billion) in October. This is the largest monthly amount since the agency started compiling related data in 2017. Transactions rose 11.8 percent from a year ago.

Travel and transportation services increased 28.6 percent from a year ago in October, food and beverage products 15.6 percent, and e-vouchers and e-gift card services 48.9 percent.

Mobile shopping transactions accounted for about 70 percent of the entire online shopping transactions, data showed.

By Lee Yoon-sik and Chang Iou-chung

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