Sang Il Baek

Global Economic News

ONLINE shopping transactions in South Korea exceeded 100 trillion won (US$86.50 billion) from January to July this year, as indoor activities increased due to the resurgence in COVID-19 cases and the Tokyo Olympics.

The online shopping trends in July report, issued by the Statistics Korea on Friday, shows that online shopping transactions in July rose 24.9 percent year on year to 16.1996 trillion won, posting the largest amount since 2001 when related statistics began.

As a result, online shopping transactions increased to 108.784 trillion won from January to July this year, surpassing 100 trillion won.

By product group, the amount of online food delivery service such as pizza and chicken was 2.377.8 trillion won, up 72.5 percent year on year. It is the largest amount since 2017.

As seasonal home appliance sales such as air conditioners increased due to the heat wave, transactions of home appliances, electronics and telecom devices also increased 48.3 percent year on year to 2.623 trillion won.