Emart is acquiring 80 percent of eBay Korea for 3.44 trillion won ($3.05 billion), significantly raising its presence in the market and becoming a top-ranked e-commerce player overnight.
A digital screen operated by Yonhap Infomax in Jongno District, central Seoul, shows the closing prices of Naver and Kakao stocks on the Kospi on Wednesday.
For the first time, Kakao's market capitalization surpassed Naver's, ranking third on the Kospi Tuesday. Kakao’s shares hit a record high of 144,500 won Tuesday, bringing its market cap to 64.1 trillion won compared to Naver’s 63.6 trillion won...
Naver walked away from a consortium trying to acquire eBay Korea.
Naver is expanding its logistic network to stay ahead of competitors like Coupang, following the delivery model pioneered by Amazon in the U.S.
E-commerce laggard Lotte Shopping is trying to make the best of its situation after the opportunity to buy eBay Korea passed it by.
A consortium led by Emart has been named the preferred bidder for eBay Korea, according to local media reports on Wednesday.
Pay rises continue at Korea's big companies and IT firms.
Bank KEB Hana Indonesia and Line have formed an internet bank in Indonesia, with services available from June 10.
As the pandemic lingers, leaving personal details at public establishments is becoming a business in its own right.