Overseas Direct Purchases Slow on Strong Dollar, Down 17% from US

[The Financial News] Last year, the total value of overseas direct online purchases rose only by a little over 5% from a year earlier. After years of double-digit growth, the increase slipped into the single digits. Overall online transactions slowed, and the strong won–dollar exchange rate sharply reduced overseas direct purchases from the United States of America (US). Due to the settlement shock involving Coupang and Wemakeprice, last year’s online shopping transaction value grew just 4.9%, the lowest increase on record.
According to the Ministry of Data and Statistics (KOSTAT) report "Online Shopping Trends for December 2025 and for the Year" released on the 2nd, last year’s overseas direct purchases totaled 8.508 trillion won, up 5.2% from the previous year. The growth rate for overseas direct purchases shrank from 14.6% in 2023 and 18.6% in 2024 to 5.2% in 2025. It is the lowest increase in ten years, since the 3.3% growth recorded in 2015. By region, purchases from the US fell 17.6%, while those from China rose 14.9% and from Japan increased 8.8%. By product category, sports and leisure goods declined 13.9%. In contrast, food and beverages grew 6.2%, household and automotive goods 12.7%, and clothing and fashion items 2.5%.
KOSTAT pointed to weaker overseas direct purchases as a key factor behind the slowdown in total online shopping transactions. The high exchange rate was also cited as a reason, as overseas direct purchases from the US plunged 17.6% year-on-year, the steepest drop on record. A KOSTAT official stated, "It appears that the slowdown in online shopping transaction value last year also affected overseas direct purchases," adding, "While overseas direct purchases from the US have declined for four consecutive years, they are increasing in China and Japan."
In contrast, overseas direct online sales increased, supported by strong demand for K-beauty and food products. These sales reached 3.0234 trillion won last year, up 16.4% from a year earlier. After rising 29.3% in 2023 and 8.3% in 2024, the growth rate rebounded to 16.4% in 2025. By region, sales to the Association of Southeast Asian Nations (ASEAN) fell 4.4%, but sales to the US jumped 26.3% and those to China climbed 10.9%. By product category, clothing and fashion-related items decreased 9.0%, while cosmetics surged 20.4%, food and beverages soared 49.2%, and records, videos, and musical instruments increased 7.0%.
Meanwhile, total online shopping transaction value came to 272.0398 trillion won last year, up 4.9% from the previous year. This is the smallest increase since statistics began in 2017 and lower than the 7.1% growth recorded in 2024. By product category, eCoupon Service transactions dropped 27.5%, but food delivery services rose 12.2%, food and beverages 9.5%, and automobiles and automotive goods 30.5%. In terms of share by category, food delivery services accounted for 15.3%, followed by food and beverages at 13.9% and travel and transportation services at 12.5%. Within total online shopping, mobile shopping transactions reached 211.1448 trillion won, up 6.5% year-on-year.
KOSTAT concluded that online shopping growth slowed last year. A KOSTAT official explained, "Transaction value increased as delivery platforms issued free coupons and intensified competition," and added, "Online transactions of imported and used cars became more active, which led to a sharp rise in automobile transactions." The official went on to say, "The unsettled payments involving Coupang and Wemakeprice that occurred in July 2024 also contributed to the limited growth. However, the market has been on a recovery path since the second half of last year."
junjun@fnnews.com Reporter Choi Yong-jun Reporter