Armed with low-cost products, China has stepped up as Koreans’ top overseas direct purchase destination last year, overtaking the U.S. Koreans spent a total of 6.75 trillion won ($5.08 billion) in direct purchases of overseas products online throughout the past year, a 26.9 percent jump from the previous year. By countries, the overseas direct purchase market last year was driven mainly by China, which has several mega-sized online shopping malls, including AliExpress and Temu, to attract Koreans with their low-cost products and pervasive online promotions. Out of the aggregated 6.75 trillion won that Koreans spent on overseas direct purchases, China accounted for 3.28 trillion won, or about 48 percent, posting … Continue reading China (Koreans’ top overseas direct shopping destination)