Korean media: In this field, China has surpassed the United States to become the number one for the first time!

　　China News Service, February 5. According to the "Korea Times" report, Statistics Korea recently stated that China will surpass the United States for the first time in 2023 and become the preferred consumer destination for Koreans' overseas direct purchases.

Picture source: The picture shows a screenshot of the report of "Korea Times"

　　According to reports, data show that in 2023, Koreans’ total overseas direct purchases online will be 6.75 trillion won, an increase of 26.9% over the previous year, setting a record since the Korean government began collecting relevant statistics in 2014.

　　According to the report, China accounts for 48% of Koreans’ overseas direct purchases, amounting to 3.28 trillion won, an increase of 121.2% from 2022. The United States, which has long held the first place, dropped to second place, accounting for 27%, with an amount of 1.85 trillion won, a decrease of 7.3% from 2022.

　　The report pointed out that from a country and regional perspective, the revenue growth of South Korea's overseas direct purchase market in 2023 will be mainly driven by China. China has shopping platforms such as Alibaba's AliExpress and Pinduoduo's Temu, which have attracted Korean consumers with their price advantages and online promotions.

　　Expert analysts believe that China's advantage in the overseas direct shopping market may continue given the size of China's consumer market and its strong and efficient online shopping market.

　　Park So-young, a researcher at the Korea International Trade Association, said China's huge domestic market is undergoing restructuring and structural adjustment centered on e-commerce, and this trend also applies to imports and exports. Suh Hyun-jung, an analyst at Hana Securities, also said, "The scale of South Korea's overseas direct purchase market is still small, but it cannot be ignored. Compared with the growth of the overall online retail market, the market is growing faster, especially from China Products are growing particularly rapidly. AliExpress and Temu are likely to become important players in the market."