South Korea is the third largest e-commerce markets globally. Sales reached $71.2B dollars between domestic and international purchases in 2017 with over 30% of its citizens spending more than half of their monthly disposable income in online shopping. One of the key explanations of Korean e-commerce success lies in the country’s high level of e-commerce penetration, facilitated by state of the art IT infrastructure, including highest average internet connection speed at 24.6Mbps.
This report is intended for Canadian firms contemplating expansion into e-commerce in South Korea. In addition to providing an overview and statistics, as well as primary data insights into key challenges and considerations, the report also offers two case studies to provide further insights into this promising Korean sector.
Interested in e-commerce opportunities in other Asia countries? See the other reports in this three-part series: Succeeding in China's $9.4-trillion E-Commerce Market and E-Commerce in Japan: An Island of Opportunity for Canadian Exporters.