S.Korea's e-commerce exports surpass imports for 1st time in Q1

South Korea's e-commerce exports surpassed imports for the first time in the first quarter as Chinese consumers increased their purchase of cosmetics and clothing via the Internet, a government report showed on Monday.

Online sales to overseas consumers amounted to 478.7 billion won (421 million U.S. dollars) for the first three months of this year, up 84.5 percent from a year earlier, according to Statistics Korea.

The figure exceeded online purchase from overseas manufacturers for the first time at 446.3 billion won in the first quarter, up 5. 7 percent from a year ago.

The statistical agency said that Chinese and Japanese consumers increased online purchase of locally-made products thanks to popularity of South Korean pop music and soap operas such as "Descendants of the Sun."

The local currency weakened to the U.S. dollar during the first quarter, helping overseas consumers buy South Korean products in cyberspace at a cheaper price.

E-commerce exports to China, South Korea's largest trading partner, amounted to 363.4 billion won in the first quarter, accounting for 74.4 percent of the total. It was followed by the United States with a 7.8 percent portion, Japan with 5.8 percent and Southeast Asian countries with 4.1 percent.

Online sales of cosmetics surged 154 percent in the first quarter from a year earlier, with those for clothing and relevant products jumping 66 percent.

(APD)