Electronics market in South Korea

The South Korean Electronics eCommerce market is predicted to reach US$27,239.5 million by 2024 and accounts for 19.7% of the total eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 3.5%, resulting in a projected market volume of US$31,279.8 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Monthly revenues

Monthly eCommerce revenues in the South Korean Electronics market

The monthly eCommerce revenue of the South Korean Electronics market was US$2,321 million in October 2024. This refers to a growth of 7.3% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 9.5% of the total 2023 revenue of the South Korean Electronics market and the lowest in April 2024 with 7.6% of the total 2024 revenue.

Revenue Last Month

US$2,320.6m

The eCommerce revenue grew by 7.3% from September 2024 to October 2024.

10-2024+7.3%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)76.23.677.451.86.967.665.311.682.454.646.353.0

Market development

eCommerce revenue development in the Electronics market in South Korea

The South Korean Electronics eCommerce market is predicted to reach US$27,239.5 million by 2024 and accounts for 19.7% of the total eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 3.5%, resulting in a projected market volume of US$31,279.8 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

eCommerce revenue development in the Electronics market in South Korea

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Electronics market in South Korea

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)18.537.883.259.582.262.967.523.8

Top stores

Top five Electronics online stores in South Korea by net sales 2023

With sales in the South Korean Electronics market, coupang.com generated a revenue of US$1,478.2 million in 2023, which means it is the leading online store in this market. The Electronics ranking of South Korea is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Electronics market in South Korea in 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Electronics South Korea - Electronics South Korea - All Categories

Market definition

Definition of the Electronics market

Market definition: Electronics The category Electronics covers the sale of consumer electronics (e.g. computers, smartphones, TVs, headphones, game consoles) and appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes) via digital channels. Online stores dedicated to the sale of mobile contracts and tariffs, set-up and installation services or software are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Consumer Electronics (e.g. computers, smartphones, TVs, headphones, game consoles)
  • Appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes)

Out-of-scope

  • Mobile contracts and tariffs
  • Set-up and installation services
  • Software
  • Car electronics (e.g. navigation systems, car entertainment systems, dashcams)
  • Power tools

Select sub-category