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THE INVESTOR
August 18, 2019
Big Reunion

Economy

Korea’s overseas direct purchases up 31% in 2018

  • PUBLISHED :February 25, 2019 - 18:29
  • UPDATED :February 25, 2019 - 18:29
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Korea’s direct purchases from foreign countries rose 31 percent in 2018 from a year earlier on rising consumer demand for cheaper and higher quality products, customs data showed on Feb. 25.




Korean shoppers bought a total of US$2.75 billion worth of foreign goods directly via overseas Internet shopping malls in 2018, compared with US$2.11 billion tallied a year earlier, according to the data compiled by the Korean Customs Service.

The number of overseas direct purchases jumped 37 percent on-year to 32.25 million transactions over the same period, the data showed.

Direct purchases of dietary supplements accounted for the lion‘s share, with 6.64 million cases, while direct purchases of clothes and electronic goods jumped 71 percent on-year to 4.65 million cases, and 79 percent on-year to 3.78 million cases, respectively.

By country, the United States was the biggest seller with US$1.47 billion in 2018, surging 21 percent from a year earlier, while US$466 million worth of Chinese goods were shipped, up 71 percent from a year earlier.

Purchases from Europe and Japan rose 29 percent and 26 percent, to US$562 million and US$172 million, respectively.

By Ram Garikipati and newswires (ram@heraldcorp.com)

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