China’s e-commerce giants win market share in South Korea
BC Card, a credit card provider in South Korea, compared payment data from October last year to March this year, showing that since Chinese e-commerce platforms like AliExpress and Temu entered the South Korean market, sales have increased by over 130% in the past six months. The total payment volume of Chinese e-commerce platforms has grown by 138%, with transaction volume increasing by 130.6%. In contrast, the total payment volume of South Korean e-commerce platforms during the same period decreased 2.5%, with transaction volume decreasing 1.1%.