NHN Surpasses 100 Billion KRW in Transaction Volume for Chinese E-commerce Business

[Asia Economy Reporter Buaeri] NHN's transaction volume in the Chinese e-commerce business exceeded 100 billion KRW in the first half of this year.

NHN Acommate, which operates an e-commerce business based in China, announced on the 7th that sales of 20 billion KRW were generated during the '618 Shopping Festival' held from the 1st to the 20th of last month.

Acommate is the official partner of Alibaba's shopping mall 'Tmall,' which achieved the highest transaction volume during the '618 Shopping Festival.' Currently, about 100 Korean brands are entering the Chinese market through Acommate. By product category, cosmetics sales grew by 106% compared to the same period last year, while health functional foods and personal care products grew by 75% and 566%, respectively. Notably, the brands showing remarkable growth include Jeonggwanjang (health functional foods) and Amorepacific (personal care).

With the recent expansion of contactless consumption, transactions through live commerce (an online channel that sells products via real-time video streaming) are active. Acommate is encouraging positive responses from companies entering China by utilizing famous Wanghong (Chinese influencers) for marketing and conducting its own live broadcasts for 3 to 4 hours daily.

Lee Yunsik, head of NHN Commerce Business Division and CEO of NHN Godo, said, "Since various events, including the biggest shopping season in China, the Singles' Day (Guanggunje), will be held in the second half of the year, the annual transaction volume can be expected to increase further."