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Bidding for eBay Korea to Open on Monday

Written: 2021-06-07 13:20:16Updated: 2021-06-07 13:27:41

Some of South Korea's leading companies are expected to attend Monday's bidding for eBay Korea, the country's third-largest e-commerce company.

The preliminary bidders include the nation's largest mobile carrier SK Telecom, retail giant Lotte Group, discount store franchise E-Mart and MBK Partners, a private equity firm and the largest shareholder of discount store chain Homeplus.

Attention is drawn to whether E-Mart and online portal operator Naver will form a consortium after their 250-billion-won share swap deal in March.

This is eBay Korea's second attempt after initial bidding fell through in mid-May. While the company reportedly wants at least five trillion won, bidders think that is too high considering the post-pandemic environment and extra costs after the deal.

eBay Korea, which operates Gmarket, Auction and G9, was estimated to hold about 12 percent of the domestic e-commerce market last year, after Naver's 18 percent and Coupang's 13 percent.

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