TechFlow news — On January 2, according to South Korean media Viewers, claims of widespread USDT adoption among merchants in Seoul's Dongdaemun Market are inaccurate. Multiple vendors stated that despite cryptocurrency forums claiming around 10% of wholesale transactions use stablecoins, cash remains the dominant payment method. Dongdaemun Market, Seoul’s most prominent fashion wholesale hub located in the city’s east, consists of 30 shopping malls and several outdoor markets, primarily serving international buyers, especially from China.
Lee, a vendor with 20 years of experience in men's apparel trade, said that merchants generally remain cautious about change, and cash continues to dominate largely to avoid leaving transaction records. Park, who runs a medium-sized trading company catering to Chinese clients, added that since most fashion traders were born in the 1950s and 1960s, there is a significant barrier to adopting cryptocurrencies.
South Korea’s mainstream publication Weekly Dong-a reported on December 24 that cryptocurrency use in import-export trade for general goods such as clothing, textiles, and electronics is increasing. Myung-hee, a part-time employee at a Dongdaemun shopping mall, told Cryptonews that while her shop does not accept USDT, she has indeed observed many Chinese customers making smartphone payments, though she could not confirm whether these involved cryptocurrency transactions.
