Direct purchases from China by South Korean customers surged more than 50 percent in the first quarter of 2024 to account for the largest-ever share ever, data showed Wednesday.
The total value of online direct buying from overseas increased 9.4 percent on-year to 1.65 trillion won (US$1.19 billion) in the January-March period, according to the data from Statistics Korea.
It marked the largest figure for any first-quarter tally.
Of the total, the value of transactions with Chinese sellers amounted to 938.4 billion won, up 53.9 percent from a year earlier.
The United States came next with 375.3 billion won, followed by the European Union with 142.1 billion won.
Direct buying from China accounted for 57 percent of the total direct purchases by South Korean consumers in the first quarter, which was the largest proportion ever. The U.S. took up 22.8 percent and the EU had 8.6 percent, the data showed.
The value of online shopping transactions in South Korea, meanwhile, added 10.7 percent on-year in the fir
st quarter to 59.68 trillion won, marking the largest amount ever for any first quarter.
The growth came as demand for travel and transportation services and food items went up as people celebrated the Lunar New Year holiday, which ran from Feb. 9-12 this year.
Purchases made through smartphones, tablets and other mobile devices increased 10.8 percent on-year to 44.36 trillion won.
In March alone, online shopping transactions amounted to 20.45 trillion won, rising 9.1 percent on-year.
The growth came as more customers bought vehicles and auto items upon the beginning of the government’s subsidy scheme for electric vehicles, the agency said.
Source: Yonhap News Agency