Gmarket Global is new name for eBay Korea

eBay Korea announced Wednesday it renamed itself Gmarket Global, following its acquisition by Shinsegae's Emart.

The e-commerce company officially changed its name to Gmarket Global on Tuesday, and is in the process of changing its websites and necessary documents.

Emart acquired 80.01 percent of eBay Korea for 3.44 trillion won ($2.9 billion) last November, becoming its largest shareholder.

California’s eBay kept a 19.99 percent stake in the company.

Rather than getting a Shinsegae or Emart name, the company was named Gmarket Global because it wanted to stress its association with Gmarket, eBay Korea's most successful e-commerce brand. Gmarket was one of the three e-commerce brands run by eBay Korea.

“Global” was added to symbolize its aspiration for further growth.

Gmarket Global will use the current Gmarket logo. E-commerce services Gmarket, Auction and G9 will continue to be operated by Gmarket Global.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]