Invest KOREA

According to Yonhap News,

(SEJONG=Yonhap News) Purchases made using the Internet and mobile devices in South Korea continued to show solid growth in May, government data showed Wednesday, demonstrating the popularity of smartphones, fast delivery and convenient payment options with local shoppers.

The total value of transactions made with computers, smartphones and tablets reached 9.05 trillion won (US$8.1 billion) in May, up 1.67 trillion won, or 22.7 percent, from a year earlier, according to the data from Statistics Korea.

The sharp rise was attributed to increased demand for electronics, cosmetics, daily necessities and food, the agency said.

The total value of mobile transactions soared 33.8 percent to 5.63 trillion won, accounting for a record 62.2 percent of all online purchases in May.

Mobile purchases in South Korea have been on a steep rise for years as smart devices expand their presence in the world's most wired country and rapidly replace computers as the means of conducting online transactions.

sam@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (July 04, 2018)