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South Korea's E-commerce Industry

South Korea’s e-commerce industry showed such remarkable growth that its growth in sales last year stood at nearly US$ 880 billion(1,000 trillion won), hitting an all-time high.

E-commerce transactions totaled about 999 trillion won last year, up 21.2 percent from the previous year, according to the report by Statistics Korea.

The E-commerce transactions figure has been noticeably active in growth increasing to 824 trillion won in 2010, following 672 trillion won in 2009, 630 trillion won in 2008, 517 trillion won in 2007, and 411 trillion won in 2006, showing more than doubling in the past five years.

By sector, B2B transactions rose 22.1 percent, B2C transactions gained 15.7 percent, while B2G and C2C transactions added 14.8 percent.

B2G and C2C transactions rose sharply but B2C trade increased slightly, when compared to the fourth quarter in 2010. Cyber shopping sales also rose 15.3 percent to 29.62 trillion won.

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