TechFlow reported on January 2 that the Korean media Viewers reported that the rumors about the large-scale adoption of USDT payment in Dongdaemun Market in Seoul did not match the actual situation. Several market merchants said that although the cryptocurrency forum claimed that about 10% of wholesale transactions used stablecoins, in fact, cash is still the main payment method. Dongdaemun Market, as the most famous fashion wholesale market in eastern Seoul, consists of 30 shopping malls and multiple outdoor markets, mainly targeting international buyers such as China.
Lee, a merchant who has been engaged in the men's clothing trade for 20 years, said that merchants are generally cautious about change, and cash is still the main payment method to avoid leaving transaction records. Park, another merchant of a medium-sized trading company serving Chinese customers, pointed out that since most fashion traders were born in the 1950s and 1960s, there is a large threshold for adopting cryptocurrencies.
South Korean mainstream media (Weekly Dong-a) reported on December 24 that the use of cryptocurrencies in the import and export trade of general goods such as clothing, textiles and electronics is increasing. Myung-hee, a part-time employee working at Dongdaemun Shopping Center, told Cryptonews that although her store does not accept USDT, she did observe many Chinese customers using smartphones to pay, but could not confirm whether it was a cryptocurrency transaction.