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Online Transaction Volume Tops 55 Tln Won to Hit Record High in Q2

Written: 2023-08-01 13:30:15Updated: 2023-08-01 14:16:37

Online Transaction Volume Tops 55 Tln Won to Hit Record High in Q2

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The transaction volume of online shopping set a quarterly record from April to June as it surpassed 55 trillion won, or over 40 billion U.S. dollars.

According to Statistics Korea on Tuesday, the value of online transactions amounted to 18-point-42 trillion won in June, up seven-point-seven percent from a year earlier, contributing to the 55-point-45 trillion won total in the second quarter, a seven-point-three percent on-year rise.

By product, the transaction value of travel and transportation services came to five-point-91 trillion won in the second quarter, up 37-point-three percent on year, on the back of increased demand as pandemic regulations were eased.

The total for cultural and leisure services, meanwhile, jumped 48 percent on-quarter and ten-point-three percent on-year.

Purchases made through smartphones, tablets and other mobile devices increased five-point-eight percent on-year to 13-point-44 trillion won in June, but the sum represented a one-point-three percentage-point contraction to account for 73 percent of all online commerce.

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