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Led by strong online performance, S. Korea’s retail sales up 6.3 per cent in May

Led by strong online performance, S. Korea’s retail sales up 6.3 per cent in May

Sales of key retailers in South Korea grew 6.3 per cent last month from a year earlier, led by the strong performance in the online sector, government data showed Thursday.

The combined revenue of 26 online and offline retailers reached 10.29 trillion won (US$9 billion) in May, compared with 9.68 trillion won the previous year, according to the data from the Ministry of Trade, Industry and Energy. Of the total, 13 offline-based retailers, including department stores, discount chains and convenience stores, rose 2.5 per cent on-year.

The comparable figure for 13 online shopping malls — e-commerce sites and online product sales channels run by big retailers — jumped 15.2 per cent from a year ago, driving up the overall growth.

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