Share:
POST
TWEET
SHARE
SHARE
EMAIL

eBay South Korea sale could be near to closing

By Chris Dawson June 21, 2021 - 10:15 am

It looks like eBay could be close to closing a deal to sell the eBay South Korea operation, consisting of Gmarket, Auction and G9, in line with an announcement they made in January saying they were looking at their options.

Local reports suggest a consortium of E-Mart (Shinsegae) and Naver could take about 80% of eBay South Korea for 3.8 trillion Won, leaving eBay holding the remaining 20%.

E-Mart is the largest retailer in South Korea founded in 1993 by Shinsegae. The purchase of a majority holding in eBay South Korea would help them compete against Coupang, who are the largest ecommerce player in the region.

We’re not expecting to hear confirmation of the rumours from either eBay or E-Mart until a deal is signed, which would then have to pass the local competition regulators.

“eBay has initiated a process to explore, review and evaluate a range of strategic alternatives for its Korea business. The company is considering options that would maximize value for its shareholders and create future growth opportunities for the business.

eBay does not intend on making further public announcements regarding the strategic review unless and until the Board has approved a course of action requiring disclosure”
– eBay (January 21)

Selling eBay South Korea is unlikely to impact eBay sellers outside of the country – it’s not a platform that many Western eBay sellers would trade on. The major effect would be to further appease shareholders to whom it’s likely that cash would be returned and slightly trim eBay’s portfolio as the slim down to concentrate on their core eBay marketplace operations.

Comments are closed.

Featured in this article from the Tamebay Guide – companies that can help you grow and manage your business.

eBay

eBay’s mission is to be the world’s favourite destination for discovering great value and unique selection

See More Companies >

Recent Comments

1 day ago
BonusB: A complete lack of understanding on what a blockchain is, think of it as a...
2 days ago
Chris Dawson: Yes... The EU don't care if you're VAT registered or not and if you sell...
2 days ago
Rob: JoeB, communication not ebay's strongest point. Another one of ebay fine examples on ebay business...
2 days ago
Gav: Joe B, If it came down to it, I'd walk away too....