Korea¡¯s online offshore purchases hit over $2 bn, buys from China favored over EU

2018.03.21 14:13:47 | 2018.03.21 14:15:26

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Online direct purchases by South Koreans gained 29 percent to hit fresh record high of $2.11 billion last year as a stronger won and big discounts from Chinese and Black Friday blowouts whetted Koreans¡¯ penchant for foreign goods.

According to the Korea Customs Service on Tuesday, customs-cleared offshore direct purchases totaled 23.59 million cases at a value of $2.11 billion worth, up 35.6 percent in number and 29.1 percent in sum against a year ago. The growth rate in transaction value exceeds the average 27 percent increase in global direct online transactions over the last five years.

America remained the top destination for online shopping, taking up 56 percent of the total purchases at 13,302 transactions valued at $1.21 billion. China came second with 4,088 purchases worth $272 million, stretching 111 percent in number and 81 percent in sum from a year earlier. Purchases from Europe totaled 3,506 and from Japan 2,015.

Favorite offshore items were dietary and health supplementary food, followed by cosmetics, fashion, and electronics. Direct buys in home appliances gained 80 percent on year largely on demand for vacuum cleaners.

By Sohn Il-seon and Lee Ha-yeon

[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]