The Korean Fair Trade Commission (FTC) has approved the merger of Ebay Auction with Gmarket. The companies combined, based on last years numbers, will control more than 72% of the domestic online shopping market.
The remainder of the market is split, primarily by 11 Street (SK Telecom unit) and Interpark.
Ebay purchased Gmarket in 2009 for nearly USD 1.3 billion and was planning this merger, since the purchase.
- Korean Merger Control and the Korean FTC
- Abuse of Superior Bargaining Power Notification by the Korea Fair Trade Commission: Distributor Risks in Korea
- Merger/Acquisition Opportunities in Korea: Lotte Korea Buys KT Car Rental from KT Corp.
- Digital Forensic Reviews at the Korean Fair Trade Commission
- Retail Business in Korea by Tom Coyner
- Korea Increases Penalties For Data Breach and Unauthorized Transfer of Data: Korea Communications Commission