South Korean retail firms Lotte and Shinsegae bid for EBay Korea

Jun 8, 2021Updated May 31, 20251 min read

South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday.

eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor – is on sale for what eBay hopes could be up to 5 trillion won ($4.5 billion), analysts said.

The retailers’ spokesmen declined to comment on the terms of their bids. An eBay Korea spokeswoman also declined to comment.

Local retail giants Lotte and Shinsegae have struggled to catch up to leading competitors like South Korea’s No. 1 e-commerce firm Coupang in the fast-growing online shopping sector, especially after the onset of COVID-19.

South Korea’s online shopping transactions were worth 161 trillion won in 2020, accounting for a record 27.2% of total retail transactions, up from 21.4% in 2019.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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