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What about Korea's crossborder e-commerce growth rate in 2023?

Posted 2023-04-21 10:35:31



The "Crossborder shopping" market in which Korean consumers buy goods from abroad and the "reverse crossborder shopping" market in which overseas consumers purchase products from Korean online shopping malls are growing rapidly. In particular, the demand for Korean consumers to find goods through direct overseas purchases is increasing. As a result, Korean e-commerce companies are increasing their competitiveness by introducing Crossborder shopping services.

According to the Korea Customs Service, a total of 96.12 million crossborder purchases last year exceeded $4.725 billion (KRW 6.17 trillion), up 8.8 percent and 1.4 percent, respectively, from the previous year. Although the increase is a result of a slight slowdown due to the rise in the won-dollar exchange rate, △ 32.25 million in 2018 △ 42.98 million in 2019 △ 63.575 million in 2020 △ 88.38 million in 2021. According to the Korea Customs Service, it is expected to exceed 100 million cases ($5 billion) for the first time this year.

An industry official said, "In an era where tastes are diversified, crossborder purchases are becoming an essential factor as it has great advantages of buying the same product at a reasonable price during high prices and can purchase items that are not on the market."

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