Korea's Online Shopping Market Flourishes

Published on 2018/07/08 | Source

Korea's online shopping market is forecast to reach some W190 trillion in 2022, twice as big as last year's W78 trillion (US$1=W1,117).

According to a report by the Korea Information Society Development Institute on Wednesday, the online shopping market grew at an average of 19.4 percent annually over the last five years.

At that rate, it is expected to surpass W100 trillion next year and reach W189.8 trillion in 2022.

The parcel delivery market is also expected to benefit. Last year, 560 million parcels of products bought online were delivered, accounting for 24.4 percent of total deliveries.

The volume will double to surpass 1 billion by 2022.