Yahoo buys stake in Korea’s Gmarket
Published June 8th, 2006
US Auction Info
U.S. Internet firm Yahoo Inc. is buying a 10 percent stake in South Korea’s No.2 online retailer Gmarket, giving it a foothold in one of Asia’s fastest-growing e-commerce industries.
The deal is Yahoo’s latest investment in online retail firms in Asia, and puts it in head-on competition with eBay Inc. in South Korea’s $11 billion online retail market, which the U.S. auction giant has long dominated…
