The settlement amount exceeded 3 trillion won, and Naver became the top online payment platform in Korea in May

South Korea has one of the world's largest and fastest-growing e-commerce markets, with about two-fifths of online transactions conducted online. According to a survey, the top three online services that Koreans used to make the most payments last month were Naver , Couupang and eBay Korea .

According to Korean media reports, the latest news released by the application /retail analysis service WiseApp / Wise Retail on the 8th showed that the online services with the highest settlement amounts by Koreans in May were Naver and Coupang, eBay Korea , Baedal Minjok ( food delivery app: the nation of delivery ) , 11 Street , SSG.com and Google.

As the three giants of South Korea's e-commerce, Naver, Coupang and eBay Korea naturally occupied the top three positions in online consumer settlement in May. According to the survey, Naver 's estimated settlement amount was 3.655 trillion won, Coupang was 2.91 trillion won, and eBay Korea was 1.598 trillion won .

Next are Baedal Minjok with 1.5 trillion won , 11 Street with 1.09 trillion won , SSG.com with 481.5 billion won, and Google with 460.4 billion won.

Among Korean consumers of different age groups, there are also some differences in the online services that are used for settlement more frequently .

The order of consumption for people in their 20s is Naver, Coupang, Baedal Minjok, eBay Korea, Google, 11st and TMON.

The top 30-somethings are Naver, Coupang, Baedal Minjok, eBay Korea, 11th Street, TMON and SSG.com.

The order of consumers in their 40s is Naver, Coupang, eBay Korea, Baedal Minjok, 11th Street, SSG.com and GS Home Shopping.

For those aged 50 and above, the top three are Coupang, Naver, eBay Korea, 11th Street, GS Home Shopping, Lotte Home Shopping and CJ ENM.

The above survey is based on the amount paid by Korean consumers aged 20 and above for major online business services using credit cards, debit cards, account transfers, mobile phone small payments, etc. , excluding commercial transactions.

In this survey, Naver is the sum of payments through Smart Store, Webtoons, and Music, Coupang is the sum of payments through Coupang and Coupang Eats, and eBay Korea is the sum of payments through Gmarket, Auction, and Earth .

According to data research company Research And Markets , South Korea's e-commerce market is expected to reach US$325.12 billion by 2025, with a compound annual growth rate of 19.92% from 2021 to 2025. It can be expected that e-commerce will become an important driving force for South Korea's economic growth in 2021.

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