April 18, 2005

The NSO (National Statistical Office) said yesterday that B2B (business to business) transactions last year continued their upward trend for the third year, to reach W276.4 trillion (US$276 billion) in volume, a 35.1 percent increase from 2003.

However, B2C (business to consumer) online transactions only went up by 5.7 percent to stand at W6.4 trillion, making up a slim 2.1 percent of all e-commerce transactions in 2004, down from 2.6 percent in 2003. An official at the NSO said that the weak performance in B2C business was due to a slump in customers' purchasing power in the recession.

The total volume of e-commerce was W314.8 trillion, 5.5 times larger than W57.6 trillion in 2000, when the survey was first conducted.

Source: What PC.co.uk