According to a recent statistical report released by the South Korean Department of Statistics, Yonhap News Agency reported that in the first three quarters of this year, the amount of overseas direct purchases ("overseas purchases") by Koreans reached 4.7928 trillion won (approximately 1296 won per US dollar), a year-on-year increase of 20.4%, with nearly half of the total amount related to China.
According to a report by Yonhap News Agency on the 5th, South Korean consumers are increasingly fond of Chinese goods. In the first three quarters of this year, the amount of "overseas purchases" by South Koreans from China increased significantly by 106% year-on-year. From a national perspective, the amount of Korean people's "overseas purchases" from China is 2.2217 trillion Korean won, accounting for 46.4%; The amount of "overseas shopping" from the United States is 1.3928 trillion Korean won, accounting for 29.1%. According to current trends, China is expected to surpass the United States this year and become the largest source country of South Korea's overseas direct purchase market.
The report states that the rapid development of Chinese e-commerce enterprises has elevated China's position in the overseas direct purchase market in South Korea. Statistics show that as of September this year, Alibaba's global AliExpress has 5.45 million users in South Korea, making it one of the "Big Four" in Korean e-commerce. In addition, the number of Korean users of Temu, a cross-border e-commerce platform under Pinduoduo, increased significantly from 520000 in August this year to 1.7 million in September.
