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South Korea’s Retail Sales Growth Hits 2-Year High

Pedestrians wearing face masks walk through Seoul's Myeongdong shopping district. Getty Images.
Pedestrians wearing face masks walk through Seoul's Myeongdong shopping district. Getty Images. (ED JONES)

Online and offline revenue grew 10 percent last month from the same period in 2020, the sharpest increase since January 2019, a report released by the country’s Ministry of Trade, Industry and Energy revealed Thursday.

While revenue from offline retailers jumped over 14 percent year-on-year — the highest gain in three years since February 2018 — strong online sales, demand for food and gifts over Lunar New Year as well as childrenswear ahead of March’s new school year played parts in driving growth.

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