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Online spending hits 9.05 trillion won

Oct 05,2018
Purchases made using the internet and mobile devices in Korea continued to rise in August, government data showed on Thursday, demonstrating the popularity of smartphones and the fast delivery and convenient payment options offered to local shoppers.

The total value of transactions made with computers, smartphones and tablets reached a record 9.05 trillion won ($8.04 billion) in August, up 19.6 percent, or 1.48 trillion won, from a year earlier, according to data from Statistics Korea.

The increase was attributed to increased demand for electronics, leisure goods, daily necessities and food amid sweltering weather and the summer vacation season, the agency said.

The total value of mobile transactions soared 29.7 percent to a record 5.72 trillion won, accounting for a record 63.2 percent of all online purchases in August. Mobile purchases in Korea have been on a steep rise for years.