What cross-border e-commerce platforms are there in South Korea? Ranking of Korean e-commerce platforms

As a consumer society with an internet usage rate of nearly 92%, South Korea is currently one of the world's largest e-commerce markets, surpassing France in 2020, second only to Germany, and ranking sixth globally. Many cross-border sellers also choose the Korean market. So, what are the well-known cross-border e-commerce platforms in South Korea?

1. Lotte, South Korea

Lotte is one of the five major groups in South Korea and a multinational enterprise in the Fortune 500. Lotte Department Store is the largest shopping center in South Korea, with multiple department stores, shopping malls, outlets, duty-free stores, and more. Its online shopping mall is also one of the largest shopping websites in South Korea, with over 15 million members currently. Its advantage is its strong logistics infrastructure.

2. Coupang

CoupangIt is the largest e-commerce company in South Korea,at presentThere are approximately 18 million users, accounting for a quarter of the market share in South Korea. In 2020, the GMV reached 20.2 billion US dollars.

Although at the beginning of its establishment, Coupang and the group buying platform in the United StatesGrouponSimilar, mainly providing restaurantsSPAMassage and other merchant group purchases, but laterCoupangIt has expanded to a wide range of product categories, including electronic products, beauty products, consumer goods, books, baby products, household goods, decoration, fashion, toys, sports goods, tickets, tourism and cultural event planning, etc.

3. Gmarket

GmarketIt is the leading comprehensive and C2C shopping website in South Korea, currently covering nearly 100 countries worldwide. In 2009, Gmarket was acquired by eBay. Since last year, the total sales have been surpassed by Coupang. Gmarket mainly sells books, MP3 players, cosmetics, computers, home appliances, clothing, etc.

4. Auction

Established in 1998, it is the first auction e-commerce platform in Korean history and also the first e-commerce platform in Korean history. Like Gmarket, Auction now belongs to eBay's business.

5. eBayKorea Station

As the founder of auction shopping websites, eBay has overseas sites in over 30 countries worldwide. Its South Korean station had a GMV of up to $16 billion in 2020. According to media reports, eBay in South Korea has been profitable for 16 consecutive years. However, at the beginning of this year, there were reports that eBay was interested in packaging and selling its Korean business, including Gmarket, Auction, and G9.

6. 11street

elevenStreet is a well-known e-commerce platform under South Korean mobile communication giant SK, and is also well-known in South Korea. In 2020, the GMV on 11th Street was $9 billion. In addition to the Korean mainland, the platform is also very popular in Malaysia. Mother and baby, furniture decoration, health and food, electronic products, fashion, etc. are all its main categories.

7. UNIT808

UNIT808It is one of the three major professional cross-border e-commerce platforms in South Korea,The products sold can be displayed on two local Korean platforms, We Make Price and NAVER, simultaneously. This platform is suitable for customers who pursue cost-effectiveness, and its 3C products, clothing, outdoor products, and automotive accessories categories are particularly popular.