China replaces the US as South Korea’s top eCommerce choice

Out of the total 6.75 trillion won spent by South Koreans on overseas direct purchases, China accounted for 3.28 trillion won, or about 48%. — China Daily

SEOUL: China became the top overseas direct purchase choice for South Koreans last year, surpassing the United States for the first time, which industry experts attribute to increasing demand from South Korean consumers for cost-effective commodities through Chinese fast-growing cross-border eCommerce platforms.

South Korean shoppers spent 6.75 trillion won (US$5bil) on direct purchases of overseas products online in 2023, up 26.9% year-on-year, according to a report from The Korea Times, citing data from Statistics Korea.