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E-mail Xinhua, February 4, 2024
People shop at a duty-free shop in Haikou, south China's Hainan province, Aug. 5, 2023. [Photo/Xinhua]
China has emerged as the top overseas direct purchase destination for South Koreans last year, surpassing the United States for the first time, the Korea Times reported on Friday.
Citing data from Statistics Korea released on Friday, the report said the overseas direct purchase market last year was primarily led by China, which has several mega-sized online shopping malls such as AliExpress and Temu. These platforms attracted South Koreans with their low-cost products and pervasive online promotions.
Out of the total 6.75 trillion won (approximately $5.08 billion) spent by South Koreans on overseas direct purchases, China accounted for about 48%, marking a remarkable 121.2% increase compared to the previous year, it said.
Quoting experts, the report highlighted that China's strength in the overseas direct purchase market is likely to persist for the time being, given that China's huge consumer market is continuing to expand and the country's robust and efficient online shopping landscape.
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