The size of transactions in electronic commerce stood at more than KRW 1,000 trillion (approx. 700 million Euro) last year. ‘2012 E-Commerce and Cyber Shopping Trend’ released by the National Statistical Office yesterday showed that the total amount of electronic commerce last year reached KRW 1,144.7 trillion, up 14.5% from the previous year.
Such a great amount exceeds the size of Korea’s real GDP worth KRW 1,103.5 trillion last year. Back in 2007, the amount of transactions made in e-commerce stood at KRW 516.5 trillion. Five year since then, however, the size increased by more than two times.
Business-to-business e-commerce accounted for 91.8% of the total, up 15.1% from the year before. And other Internet businesses including C2C (customer to customer), B2G (business to government) and B2C (business to customer) went up by 20.6%, 6.6% and 6% respectively.
For full story see Korea IT Times.