MEDIA CENTER

Company News

Policies and Regulations

Foreign Trade Information

International Trade Friction Reminder

FAQ

Announcement

In the first three quarters of this year, nearly half of South Koreans' direct overseas purchases came from China

Published:

2023-11-07

In the first three quarters of this year, nearly half of South Koreans' direct overseas purchases came from China

n the first three quarters of this year, the amount of South Korean direct overseas purchases (" overseas shopping ") reached 4.7928 trillion won (1 US dollar about 1,296 won), an increase of 20.4%, and nearly half of the total is related to China, Yonhap news Agency quoted the Statistics Office of South Korea as saying.

South Korean consumers have become more and more interested in Chinese goods, and the amount of overseas shopping from China increased by 106% year-on-year in the first three quarters of this year, Yonhap news agency reported Friday. Korea s overseas purchases from China accounted for 46.4 percent, or 2.2217 trillion won. Overseas purchases from the U.S. accounted for 29.1 percent, or 1.3928 trillion won. According to current trends, China is expected to overtake the United States this year to become the largest source of South Korea's overseas direct purchase market.


The report said that the rapid development of Chinese e-commerce enterprises has enhanced China's position in South Korea's overseas direct purchase market. Statistics show that as of September this year, Alibaba's AliExpress has 5.45 million users in South Korea, becoming one of the "four giants" of e-commerce in South Korea. In addition, the number of South Korean users of Temu, a cross-border e-commerce platform owned by Pinduoduo, increased significantly from 520,000 in August this year to 1.7 million in September.
 

Keyword:

Prev

95% of bilateral trade between China and Russia is settled in local currencies

In the first three quarters, cross-border receipts and payments of RMB reached 38.9 trillion yuan

Next

Prev：

95% of bilateral trade between China and Russia is settled in local currencies

Next：

In the first three quarters, cross-border receipts and payments of RMB reached 38.9 trillion yuan

LATEST INFORMATION

China's used cars, auto parts export to the African market new opportunities

2023-12-05

Senegal BESC/ECTN certification procedures

2023-12-04

95% of bilateral trade between China and Russia is settled in local currencies

2023-11-27

Ms. Hou Min, general manager of Liaocheng Hongyuan International Trade Service Co., Ltd. visited the Embassy of Cameroon to promote the economic and trade cooperation between China and Cameroon

2023-11-22

The Government of the Republic of Ghana officially launched the ECTN SPN Certification Notice on November 1, 2023.

2023-11-07

In the first three quarters of this year, nearly half of South Koreans' direct overseas purchases came from China

2023-11-07

What are the risks of DDU in international trade? (What are the risks of non-dutiable delivery?)

2023-11-03

In the first three quarters, cross-border receipts and payments of RMB reached 38.9 trillion yuan

2023-10-31

Food contact regulations Requirements and precautions for applying for Saudi PCOC certificate

2023-10-25

Serbia has become China's 29th free trade partner

2023-10-19

Share to

Back to List