Home World News Emerging Markets Online shopping in South Korea hits record high in November

Online shopping in South Korea hits record high in November


Online shopping in South Korea hit a record monthly high in November thanks to a rise in cyberspace trading through mobile phones, a government report showed on Monday.

Shopping on the Internet reached a new monthly high of 6.09 trillion won (5.04 billion U.S. dollars) in November, up 23.0 percent from a year earlier, according to Statistics Korea.

It was the first time since related data began to be compiled in 2001 that the monthly figure surpassed 6 trillion won. The previous high was 5.65 trillion won tallied in October last year.

The online shopping topped 3 trillion won in November 2012, surging to 4 trillion won two years later and over 5 trillion won in December 2015.

The fast growth came as widespread use of smartphones encouraged consumers to buy products in cyberspace.

Mobile shopping through smartphones jumped 40.5 percent from a year earlier to 3.43 trillion won in November, accounting for 56.4 percent of the combined Internet shopping. Enditem

Source: Xinhua/NewsGhana.com.gh

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