ID :
184478
Thu, 05/26/2011 - 01:33
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Shortlink :
https://oananews.org//node/184478
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S. Korea's Q1 e-commerce sales jump amid economic recovery
SEOUL, May 26 (Yonhap) -- South Korea's e-commerce sales jumped 20.9 percent on-year in the first quarter of this year as consumer sentiment improved amid continued economic recovery, a government report showed Thursday.
Cyberspace sales totaled 220.91 trillion won (US$202.3 billion) in the January-March period, compared with 182.74 trillion won a year earlier, according to the report by Statistics Korea.
Business-to-business (B2B) transactions amounted to 202.56 trillion won, up 23.5 percent from a year earlier. Business-to-consumer (B2C) sales rose 23.6 percent to 4.52 trillion won over the same period.
Consumer-to-consumer (C2C) deals inched up 3.1 percent to 2.16 trillion won, while business-to-government (B2G) transactions declined 10.5 percent to 11.68 trillion won due to a fall in government-initiated deals.
Meanwhile, cyber shopping sales mostly involving B2C and C2C transactions surged 16.1 percent to 6.85 trillion won during the first quarter.
Of the total, sales of food and beverage products jumped 30 percent on-year, while sales of equipment for sports and leisure activity expanded 27 percent over the same period.
"Increased transactions in cyberspace come as continued economic recovery boosted consumer sentiment," an official of the agency said.
South Korea's economy expanded 1.4 percent on-quarter during the January-March period, accelerating from a 0.5 percent growth in the fourth quarter of last year. The economy grew 4.2 percent from a year earlier, according to the nation's central bank.
Cyberspace sales totaled 220.91 trillion won (US$202.3 billion) in the January-March period, compared with 182.74 trillion won a year earlier, according to the report by Statistics Korea.
Business-to-business (B2B) transactions amounted to 202.56 trillion won, up 23.5 percent from a year earlier. Business-to-consumer (B2C) sales rose 23.6 percent to 4.52 trillion won over the same period.
Consumer-to-consumer (C2C) deals inched up 3.1 percent to 2.16 trillion won, while business-to-government (B2G) transactions declined 10.5 percent to 11.68 trillion won due to a fall in government-initiated deals.
Meanwhile, cyber shopping sales mostly involving B2C and C2C transactions surged 16.1 percent to 6.85 trillion won during the first quarter.
Of the total, sales of food and beverage products jumped 30 percent on-year, while sales of equipment for sports and leisure activity expanded 27 percent over the same period.
"Increased transactions in cyberspace come as continued economic recovery boosted consumer sentiment," an official of the agency said.
South Korea's economy expanded 1.4 percent on-quarter during the January-March period, accelerating from a 0.5 percent growth in the fourth quarter of last year. The economy grew 4.2 percent from a year earlier, according to the nation's central bank.
