South Korean Retail Sales Up 13% as Vaccine Roll-Out Gains Speed

The country’s retail sales increased 12.9 percent year-on-year in May, thanks in large part to its ongoing Covid-19 vaccination program, which has now inoculated around 30 percent of its population with a first dose, Korea Biz Wire reports.

The total sales of 25 top online and offline retailers hit 13.1 trillion won ($11.6 billion) in May, official data reveals. Offline sales were up 8.8 percent from last year, with department stores reaping the rewards of a return to physical shopping; sales surged 19.1 percent in May, due in part to strong demand for luxury goods.