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South Korea's e-commerce sales go up

Posted on Nov 27, 03:41PM | IANS

South Korea's e-commerce sales expanded 12.5 percent in the third quarter from a year earlier, a government report showed Tuesday.

E-commerce sales, gauging transactions in the cyberspace, reached 276.16 trillion won (USD 254 billion) during the July-September period, up 12.5 percent from the same period of last year, according to Statistics Korea.

Business-to-business (B2B) sales, which account for more than 90 percent of total sales, jumped 13.8 percent on-year to 257.68 trillion won in the third quarter, with business-to-consumer (B2C) transactions increasing 4.8 percent to 4.94 trillion won, reported Xinhua.

Consumer-to-consumer (C2C) transactions jumped 21.8 percent to 2.84 trillion won over the cited period, but business-to-government (B2G) sales declined 11.4 percent to 10.7 trillion won.