South Korea: E-Commerce Sales Hit USD 1.05 Trillion
In 2012, South Korea’s e-commerce sales have reached USD 1.05 trillion, up by 14.5 percent from 2011, as a result of increased transactions between businesses online, recent findings indicate.
According to Statistics Korea (KOSTAT), online transactions have grown across all categories in 2012. Business-to-business (B2B) sales have accounted for more than 90 percent of all online transactions, reaching USD 967 billion and up 15.1 percent as compared to the previous year. Business-to-government (B2G) sales have reached USD 57.3 billion, up by 6.6 percent from 2011.
The same source also shows that business-to-consumer (B2C) sales have jumped 6 percent to USD 18.1 billion, while consumer-to-consumer (C2C) sales have went up by 20.6 percent to hit USD 10.9 billion.
Research points out that consumer online shopping, comprising B2C and C2C sales, has grown by 11.3 percent to USD 29.8 billion in 2012.
Source: The Paypers