Bernstein projects that South Korea’s e-commerce market will grow at an annual rate of 5% between 2025 and 2027, supported by increasing online retail penetration. The firm noted that online sales accounted for 42% of total retail in South Korea in 2024, surpassing China’s 34%. That figure is expected to rise to 46% by 2027, with the proportion of internet users shopping online growing from 83% to 86%. Coupang and Naver were identified as the country’s leading players, especially following the decline of Qoo10-related firms amid a 2024 liquidity crisis. Bernstein cited Coupang's fast, free delivery and cross-selling capabilities as key advantages. The report also warned of growing competition from Chinese platforms such as AliExpress and Temu.