S. Korea`s e-commerce grows slowest in Q2

SEOUL, Aug. 25 (Yonhap) -- South Korea's e-commerce expanded at the slowest pace
ever in the second quarter of this year due to a prolonged economic slump, a
government report said Tuesday.
Online sales of goods and services rose 6 percent from a year earlier to 166.9
trillion won (US$133.9 billion) in the April-June period, according to the report
by the National Statistical Office.
The annual gain was the smallest since the government began to compile related
data in 2001, the office said. From three months earlier, e-commerce was down 1.6
percent.
According to the report, business-to-business (B2B) e-commerce rose 1 percent
on-year to 143.2 trillion won. Business-to-government (B2G) transactions jumped
64.7 percent to 18.98 trillion won, thanks to the government's efforts to execute
its budget early and to prop up the construction sector.
Business-to-consumer (B2C) sales rose 6.4 percent to 2.96 trillion won, while
consumer-to-consumer (C2C) transactions jumped 21.9 percent to 1.74 trillion won.

The slower second-quarter growth in e-commerce was attributed to an economic
slump. The South Korean economy shrank 2.5 percent on-year in the April-June
period, though it expanded 2.3 percent from three months earlier.
While the economy is widely seen to be recovering faster than other nations,
government officials say uncertainties linger at home and abroad as employment
and exports remain sluggish amid a global slowdown.
ygkim@yna.co.kr
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