South Korea's E-commerce Market Is Weak, More Than 70,000 Platforms Have Fallen

According to data released by Startup Alliance, the number of e-commerce platform closures in South Korea has increased by 37% in the past year to 78,580, hitting a record high. It can be said that the business environment of small and medium-sized e-commerce enterprises in South Korea is getting worse, and it is reported that the total investment of e-commerce startups in South Korea in the first quarter of 2024 was 3.15 billion won, only 4% of the investment of 71.1 billion won in the same period last year.