Recent tallies have shown that e-commerce transactions exceeded the 100-trillion-won mark for the first time last year.

The tallies from the Financial Supervisory Service(FSS) showed that e-commerce transactions were worth 109-point-eight trillion won, or about 92 billion U.S. dollars, last year, up 22-point-one percent from the year before.

The majority of the transactions came through payment gateways, which accounted for almost 80 trillion won.

The number of electronic transactions also increased 27-point-seven percent from a year ago, to more than 15-point-six billion won.

FSS officials said deregulation in finance and information technologies were responsible for the increase in new market players that offered electronic payment services.