What is eBay Korea's market share in South Korea?

According to Euromonitor, eBay Korea held a 12.8% market share in South Korea's e-commerce sector in 2020. This makes it the country's third-largest e-commerce firm.

E-Tailing

South Korean retail firms Lotte and Shinsegae bid for EBay Korea

By Wei ZhangKorea

1 min readUpdated May 31, 2025Jun 8, 20216:05 AM

In this article (4)

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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What this means

Lotte and Shinsegae's aggressive pursuit of eBay Korea reflects a critical scramble for e-commerce scale, pressured by the rapid 2020 online growth to 27.2% of total retail transactions. Given the competitive pressure from Coupang, securing eBay Korea's 12.8% market share is crucial for either bidder to avoid becoming an also-ran. This move directly contrasts Panpuri's organic 16-store expansion in Asia and signals a more urgent, acquisition-led strategy for market dominance. While expensive, the acquisition is likely to accelerate digital transformation, albeit at a high 5 trillion won reported valuation, which presents a significant debt risk. The next key indicator will be the announced acquisition price and the successful integration of eBay Korea's operations.

Wei Zhang · Retail News Asia newsroom

Questions & Answers

Which companies are bidding for eBay Korea?

South Korean retailers Lotte Shopping and Shinsegae Group have entered separate binding bids for eBay's South Korean business. Their spokesmen confirmed the bids were submitted on Monday.

What is eBay's asking price for its Korean business?

Analysts suggest eBay hopes to sell its Korean business for up to 5 trillion won ($4.5 billion). The company spokespeople did not comment on the terms of the bids.

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