E-Commerce (Goods and Services) in South Korea

April 2021
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E-Commerce (Goods and Services) in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Retailing leads e-commerce in remote payments while foodservice showed fastest growth
Offline stores increasingly embrace QR code-based proximity payment
Social distancing heavily affects consumer demand for travel and ticketed attractions and entertainment

RECOVERY AND OPPORTUNITIES

Digital payments to maintain growth as consumers become accustomed to the convenience of this payment process
Foodservice and ride-hailing to sustain growth in remote payments
Demand for domestic travel remains healthy while long-haul trips yet to recover

Digital Consumer in South Korea - Industry Overview

EXECUTIVE SUMMARY

Digital payments become the new norm
Competition in digital payment intensifies
Investment in 5G continues despite challenges
Retailing remains key while other services grow presence
Young consumers present opportunities

E-COMMERCE IN THE REMOTE ENVIRONMENT

State of the Market
Leading Industries
Case Study: Naver Financial
Chart 1 Naver Pay Mobile App and Payment Process

E-COMMERCE IN THE PROXIMITY ENVIRONMENT

State of the Market
Leading Industries
Case Study: Kakao Pay
Chart 2 Kakao Pay Mobile App

SOURCES

Summary 1 Research Sources
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