E-commerce in Korea reaches record high

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E-commerce in Korea reaches record high

Korea’s e-commerce sales jumped to a quarterly record high during the second quarter, driven by an increase in cyberspace transactions among businesses, a government report showed yesterday.

The country’s online sales came to 287.04 trillion won ($253.35 billion) during the April-June period, up 16.2 percent from a year earlier, according to the report by Statistics Korea. The amount is also up 2.2 percent from the previous quarter.

This marked the highest quarterly results since the agency started to compile related data in 2000, the statistics agency said.

The increase is in line with the growing trend among businesses and consumers to turn to cyberspace for cheaper and more convenient transactions, it added. Yonhap

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