What is Gmarket? Gmarket Review

Gmarket is the largest comprehensive shopping website in South Korea, a subsidiary of eBay, and the most popular C2C shopping platform in South Korea. It ranks first in terms of total sales value of goods in the Korean online retail market, mainly selling books, MP3s, cosmetics, computers, home appliances, clothes, etc.

About Gmarket

Gmarket is South Korea's largest e-commerce platform with a wide range of products. As early as 2010, the number of registered members on the website exceeded 20 million.

According to survey data from the fourth quarter of 2017, Gmarket's customer satisfaction index was 77%, ranking first.

In 2017, Gmarket’s brand competitiveness index was 76%, ranking first.

In February 2018, Gmarket received 8.45 million unique visitors in a single month.

Information required for entry

1. Business license, in PDF or JPG format;

3. The name of the public bank account must be consistent with the name on the business license;

4. International Seller Application Form (Korean version + English version);

5. Seller's statement (Korean version);

6. Links to other cross-border e-commerce platforms (operating for at least 1 year).

Platform commissions and payments

Platform commission: 10~12%.

After the buyer confirms receipt through the platform website/APP, the platform will deposit the money into the corresponding seller’s virtual account the next day.

When the seller requests payment, the platform will transfer the money to the seller’s payment account within 5-10 working days.

If the buyer does not click to confirm receipt, the platform will deposit the money into the corresponding seller’s virtual account 8 days after the order is shown as delivered.

Development History

-Gmarket was founded by Young Bae Ku in 1999 under the names "AuctionWeb" and "ShoppingMall".

-On June 6, 2006, Yahoo! acquired a 10% stake in the company.

-On June 29, 2006, the company issued 9,119,565 American depositary shares on the NASDAQ. The shares were quoted under the GMKT symbol. The initial price at that time was $15.25. -The acquisition by eBay Inc. has removed these shares from the market.

- In June 2009, eBay acquired Gmarket for approximately $1.2 billion. The subsidiary is now known as eBay Korea Co., Ltd.

-In 2010, Gmarket’s turnover reached 4.7 trillion won, and the number of registered members exceeded 20 million.

-On December 10, 2012, Korean online shopping platform Gmarket and Showsuite announced that they would cooperate to create a one-stop Korean fashion + shopping platform.

-In August 2016, What’s Worth Buying joined hands with well-known Japanese and Korean e-commerce companies such as Amazon Japan, Rakuten Japan, Hyundai Shopping Korea, 11th Street, and Gmarket to launch the "Japan-Korea Shopping Festival".

-In October 2006, Gmarket launched the Gmarket Global English shopping website and began to provide online shopping services to overseas users and foreigners living in Korea.

Gmarket enters the Chinese market

On December 10, 2012, Korean online shopping platform Gmarket and Xiu.com announced that they would cooperate to establish a one-stop Korean fashion shopping platform. According to reports, Chinese consumers can search, browse and purchase Korean products and brands sold on Gmarket, and Xiu.com will provide one-stop customer service including sales, logistics, payment and after-sales.

Gmarket is the largest comprehensive shopping website in South Korea. Public data shows that Gmarket's turnover reached 4.7 trillion won in 2010, and the number of registered members exceeded 20 million.

Awards

·Gmarket won the "2015 Chinese Consumers' Most Favorite Korean Brand Award";

·Won the Korean Industrial Brand Power Ranking for 5 consecutive years (2011-2015);

·Ranked first in the National Brand Competitiveness Index for the eighth consecutive year (2007-2014);

Customer Impression Brand Index, ranked first for three consecutive years (2012-2014);

Ranked first in the Korean Customer Satisfaction Index (2011, 2014);

Won the Best Brand Award for 4 consecutive years (2012-2015).