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S.Korea's e-commerce sales hit all-time high in 2011

(Xinhua)

14:27, February 23, 2012

SEOUL, Feb. 23 (Xinhua) -- South Korea's e-commerce sales hit an all-time high last year due to a surge in cyber transactions between businesses, a government report showed Thursday.

Online commerce transactions reached 999.25 trillion won (885. 62 billion U.S. dollars) in 2011, up 21.2 percent from a year earlier, according to the Statistics Korea.

Business-to-business (B2B) sales, which account for more than 90 percent of total sales, mainly attributed to the record level of cyber transactions. B2B transactions expanded 22.1 percent on- year to 912.56 trillion won in 2011, while business-to-government (B2G) deals grew 10.6 percent to 58.38 trillion won.

Business-to-consumer (B2C) transactions jumped 15.7 percent on- year to 18.52 trillion won last year, with consumer-to-consumer ( C2C) sales advancing 14.8 percent to 9.79 trillion won. (One U.S. dollar equals 1,128.30 won)

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