South Korea's Q2 e-commerce sales grow 7.2% on-year

South Korea's e-commerce sales grew 7.2 percent on-year during the second quarter amid increasing demand for online transactions, a government report showed Tuesday. E-commerce sales totaled about 308.9 trillion won (US$277.1 billion) in the April-June period, up from 288.2 trillion won a year earlier, according to the report by Statistics Korea. The amount was also 7.7 percent larger than the previous quarter. The report showed that business-to-business (B2B) transactions, which made up about 91 percent of all cyberspace sales, came to 281.2 trillion won, up 6.5 percent from a year earlier. Business-to-government (B2G) deals jumped 15.2 percent on-year to 18.7 trillion won and also rose 36.5 percent from the previous quarter. Transactions involving consumers also saw growth, as business-to-consumer (B2C) transactions increased 11.7 percent to 5.7 trillion won, while consumer-to-consumer (C2C) sales jumped 13.5 percent to 3.3 trillion won, the report showed. Meanwhile, cybershopping sales mostly involving B2C and C2C transactions gained 11.7 percent on-year to 9.2 trillion won during the second quarter, according to the report.