South Korea E-Commerce Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)

Description Table of
Contents Companies Mentioned

FEATURED COMPANIES

Coupang, Inc.
Lotte Shopping Co., Ltd.
Naver Corporation
SSG.com Corp.
MORE

South Korea’s e-commerce market is predicted to reach US$325.12 billion in 2025, progressing at a CAGR of 19.92%, over the period 2021-2025. Factors such as mounting penetration of internet users, introduction of AI in retail, expanding urbanization, the escalating trend of online advertising and growing usage of smartphones are set to drive the growth of the market. However, market growth would be challenged by a risk of e-commerce fraud and imprecise return policies. A few notable trends include rising influence of social networking platforms, accelerating growth of mobile payments and increasing adoption of advanced technologies.

South Korea’s e-commerce market can be bifurcated into fashion, food & beverages, home electric appliances, household goods-motor vehicle parts, cosmetics, computer & related appliances, sports & leisure, travel services and others, in terms of product category.

The fashion segment is the fastest growing market, owing to the growing adoption of online shopping for clothing items as it offers wide range of options which often are not present in physical stores, increased convenience to users by enabling easy access to e-commerce platforms anytime anywhere, surging disposable income along with expanding urbanization. In addition, the sudden outbreak of the COVID-19 pandemic had escalated the adoption of e-commerce as a result of rapid shift from brick-and-mortar distribution channels towards online retail stores to mitigate the risk of coronavirus infection upon human interaction, thereby propelling the overall market growth.

Scope of the Report:

The report provides a comprehensive analysis of South Korea e-commerce market segmented on the basis of product category.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (SK Telecom Co., Ltd., Lotte Shopping Co., Ltd., eBay Inc. (eBay South Korea Co., Ltd.), Naver Corporation, SSG.com Corp., and Coupang, Inc.) are also presented in detail.

Key Target Audience:

Online retailers
Raw Material Suppliers
Businesses and Customers
Logistics Partners
Investment Banks

Frequently Asked Questions about the South Korean E-Commerce Market

What is the estimated value of the South Korean E-Commerce Market?

The South Korean E-Commerce Market was estimated to be valued at $157.2 Billion in 2021.

What is the growth rate of the South Korean E-Commerce Market?

The growth rate of the South Korean E-Commerce Market is 19.9%, with an estimated value of $325.1 Billion by 2025.

What is the forecasted size of the South Korean E-Commerce Market?

The South Korean E-Commerce Market is estimated to be worth $325.1 Billion by 2025.

Who are the key companies in the South Korean E-Commerce Market?

Key companies in the South Korean E-Commerce Market include SK Telecom Co., Ltd. (11Street), Lotte Shopping Co., Ltd., eBay Inc. (eBay South Korea Co., Ltd.), Naver Corporation and Coupang, Inc..

FEATURED COMPANIES

Coupang, Inc.
Lotte Shopping Co., Ltd.
Naver Corporation
SSG.com Corp.
MORE

1. Market Overview

1.1 Introduction
1.2 Main Categories of E-Commerce
1.3 Technical Components of E-Commerce
1.4 The E-Commerce Shopping Process
1.5 Attributes of E-Commerce
1.6 Advantages of E-Commerce
1.7 Disadvantages of E-Commerce

2. Impact of COVID-19

2.1 Escalating E-Commerce Penetration Rate
2.2 Growth of Online Sales
2.3 Upswing in Internet Buyers

3. South Korea Market Analysis

3.1 South Korea E-Commerce Market by Value
3.2 South Korea E-Commerce Market Forecast by Value
3.3 South Korea E-Commerce Market by Product Category
3.3.1 South Korea Fashion E-Commerce Market by Value
3.3.2 South Korea Fashion E-Commerce Market Forecast by Value
3.3.3 South Korea Food & Beverages E-Commerce Market by Value
3.3.4 South Korea Food & Beverages E-Commerce Market Forecast by Value
3.3.5 South Korea Home Electric Appliances E-Commerce Market by Value
3.3.6 South Korea Home Electric Appliance E-Commerce Market Forecast by Value
3.3.7 South Korea Household Goods-Motor Vehicle Parts E-Commerce Market by Value
3.3.8 South Korea Household Goods-Motor Vehicle Parts E-Commerce Market Forecast by Value
3.3.9 South Korea Cosmetics E-Commerce Market by Value
3.3.10 South Korea Cosmetics E-Commerce Market Forecast by Value
3.3.11 South Korea Computer & Related Appliances E-Commerce Market by Value
3.3.12 South Korea Computer & Related Appliances E-Commerce Market Forecast by Value
3.3.13 South Korea Sports & Leisure E-Commerce Market by Value
3.3.14 South Korea Sports & Leisure E-Commerce Market Forecast by Value
3.3.15 South Korea Travel Services E-Commerce Market by Value
3.3.16 South Korea Travel Services E-Commerce Market Forecast by Value

4. Market Dynamics

4.1 Growth Drivers
4.1.1 Mounting Penetration of Internet Users
4.1.2 Introduction of AI in retail
4.1.3 Expanding Urbanization
4.1.4 Escalating Trend of Online Advertising
4.1.5 Growing Usage of Smartphones
4.2 Key Trends & Developments
4.2.1 Rising Influence of Social Networking Platforms
4.2.2 Accelerating Growth of Mobile Payments
4.2.3 Increasing Adoption of Advanced Technologies
4.3 Challenges
4.3.1 Risk of E-Commerce Frauds
4.3.2 Imprecise Return Policies

5. Competitive Landscape

5.1 South Korea Market
5.1.1 Revenue Comparison of Key Players
5.1.2 Market Capitalization Comparison of Key Players
5.1.3 South Korea E-Commerce Market Share by Key Players

6. Company Profiles

6.1 SK Telecom Co., Ltd. (11Street)
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 Lotte Shopping Co., Ltd.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategies
6.3 eBay Inc. (eBay South Korea Co., Ltd.)
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategies
6.4 Naver Corporation
6.4.1 Business Overview
6.4.2 Financial Overview
6.4.3 Business Strategies
6.5 SSG.com Corp.
6.5.1 Business Overview
6.5.2 Business Strategies
6.6 Coupang, Inc.
6.6.1 Business Overview
6.6.2 Business Strategies

List of Figures

Main Categories of E-Commerce
Technical Components of E-Commerce
The E-Commerce Shopping Process
Attributes of E-Commerce
Advantages of E-Commerce
Disadvantages of E-Commerce
Domestic E-Commerce Penetration Rate in South Korea (2015-2025)
Year-on-year (YoY) growth of online sales of High-end Retailers at WeMakePrice in South Korea, by Category (February 2020)
Percentage of Internet users (aged 16 to 64) who bought something online via any device (January 2020)
South Korea E-Commerce Market by Value (2016-2020)
South Korea E-Commerce Market Forecast by Value (2021-2025)
South Korea E-Commerce Market by Product Category (2020)
South Korea Fashion E-Commerce Market by Value (2016-2020)
South Korea Fashion E-Commerce Market Forecast by Value (2021-2025)
South Korea Food & Beverages E-Commerce Market by Value (2016-2020)
South Korea Food & Beverages E-Commerce Market Forecast by Value (2021-2025)
South Korea Home Electric Appliances E-Commerce Market by Value (2016-2020)
South Korea Home Electric Appliance E-Commerce Market Forecast by Value (2021-2025)
South Korea Household Goods-Motor Vehicle Parts E-Commerce Market by Value (2016-2020)
South Korea Household Goods-Motor Vehicle Parts E-Commerce Market Forecast by Value (2021-2025)
South Korea Cosmetics E-Commerce Market by Value (2016-2020)
South Korea Cosmetics E-Commerce Market Forecast by Value (2021-2025)
South Korea Computer & Related Appliances E-Commerce Market by Value (2016-2020)
South Korea Computer & Related Appliances E-Commerce Market Forecast by Value (2021-2025)
South Korea Sports & Leisure E-Commerce Market by Value (2016-2020)
South Korea Sports & Leisure E-Commerce Market Forecast by Value (2021-2025)
South Korea Travel Services E-Commerce Market by Value (2016-2020)
South Korea Travel Services E-Commerce Market Forecast by Value (2021-2025)
Number of Internet Users in South Korea (2016-2023)
South Korea Artificial Intelligence (AI) Market Value (2016-2020)
South Korea Urban Population (2016-2020)
South Korea Online Advertising Market (2016-2021)
Smartphone Penetration Rate as Share of the Population in South Korea (2016-2022)
Number of Facebook Users in South Korea (2017-2023)
Penetration Rate of Mobile Pay in South Korea (2016-2020)
South Korea E-Commerce Market Share by Key Players (2020)
SK Telecom Co., Ltd. Revenue and Profit (2016-2020)
Lotte Shopping Co., Ltd. Revenue and Profit (Loss) (2016-2020)
eBay Inc. Net Revenue and Net Income (2016-2020)
Naver Corporation Revenue and Net Income (2016-2020)
Naver Corporation Revenue by Region (2020)

List of Tables

Revenue Comparison of Key Players (2020)
Market Capitalization Comparison of Key Players (2021)

SK Telecom Co., Ltd. (11Street)
Lotte Shopping Co., Ltd.
eBay Inc. (eBay South Korea Co., Ltd.)
Naver Corporation
SSG.com Corp.
Coupang, Inc.

FEATURED COMPANIES

What is the estimated value of the South Korean E-Commerce Market?

What is the growth rate of the South Korean E-Commerce Market?

What is the forecasted size of the South Korean E-Commerce Market?

Who are the key companies in the South Korean E-Commerce Market?

FEATURED COMPANIES

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