Chinese cross-border e-commerce is gaining presence in South Korea, with Alibaba and Teamu surpassing local e-commerce = South Korea

The Korea Economic Forum (KEF) has released a report titled "Analysis of the Current State of the Global E-Commerce Market for the Last Five Years (2018-2023)."
According to this, the global e-commerce (EC) market is expected to reach 2.9 trillion in 2018.
The Chinese e-commerce market has grown by 2030 to $1.2 billion (USD, approximately 457.1647 trillion yen), doubling in five years.
The three companies' five-year average compound annual growth rate (CAGR) was 41.0%, exceeding the growth rate of the global e-commerce market (14.6%).
Cross-border e-commerce in South Korea has turned negative since 2021, with purchases exceeding sales. It will be in the red in 2023.
The gap is 5.1 trillion won (approximately 582,073,070,000 yen). Looking at the ranking of e-commerce platforms operating in Korea based on the number of monthly users, as of January 2023,
In terms of points, the top spot was "Coupang," followed by "11th Avenue," "G Market," "Timon," and "Ali Express." However, in May 2024, "Coupang" was ranked 1st.
The top spot has changed to "Amazon Prime", followed by "AliExpress", second place to "11th Avenue", fourth place to China's "Temu", and fifth place to "G Market".
The KEC says it is urgent to respond to the situation in which Chinese e-commerce platforms are rapidly expanding their presence in the Korean market.