News

E-commerce

Paul Howell

, Korea

Published:

3 years ago

Check out the four preliminary bidders eyeing eBay Korea

Major players are seeking M&As to survive in the country’s e-commerce sector.

SK Telecom, Lotte Group, Shinsegae affiliate Emart, and Homeplus’ top shareholder MBK Partners have submitted preliminary bids to buy eBay Korea in a deal that could fetch $4.42b (KRW5t), Yonhap reported based on statements from industry sources.

The preliminary bids for eBay Korea, which operates major online shopping sites, including Gmarket, Auction and G9, came as major players are seeking merger and acquisition and business cooperation to survive in the country's e-commerce and retail sectors.

Annual transactions on eBay Korea's online shopping sites reached $17.78b (KRW20t) in 2020. The value of annual e-commerce transactions on Naver was estimated at $24b (KRW27t) won last year.

Lotte is seeking to boost its online mall Lotte ON, and Shinsegae wants to expand its online mall SSG.Com. SK Telecom, the operator of online mall 11Street, also wants to tighten its grip on the e-commerce market, industry sources said.

Also Read

India’s e-commerce market to reach $147.3b in 2024

Deliveroo HK and GO Platform announce exclusive partnership

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Technology offers solution to India’s food waste crisis in restaurants

It can also help improve efficiency and support sustainable practices in the industry.

Technology

22 hours ago

India’s e-commerce market to reach $147.3b in 2024

It will be driven by the expanding internet penetration and better digital payment infrastructure.

E-commerce

22 hours ago

Food colors market to reach $5.42b by 2031

Still, the market growth is constrained by strict regulations.

1 day ago

Thailand foodservice industry moves to cage-free eggs amidst ethical demand

It is driven by consumers’ expectations for humane treatment of animals.

1 day ago

Exclusives

Brands told to come clean about beauty care

Consumers are more discerning and can easily spot fake ingredient claims.

1 day ago

Swarovski cracks TikTok to scale luxury amongst Gen Zs

The Austrian glassmaker is working with influencers to connect with the Singaporean market.

4 days ago

Starbucks Korea opens high-tech store in Seoul

Its first reserve-only branch features AR art installations and a Mixology Bar.

Decathlon gets closer to hybrid Singaporean shoppers through pick-up service

The world’s largest sporting goods retailer lets clients pick up online orders on the go.Decathlon is building on the success of its pick-up service in Singapore as it progresses toward its target of having 37 locations in the city-state in the next two years, its top official said.

Stores