Nina Jobst
Research expert covering South Korea
Online marketplaces in South Korea - statistics & facts
As the South Korean e-commerce market has been shaped to meet consumers’ needs, some online marketplaces have stood out more than others in this continuously growing market. Their power is reflected in the consumer’s choice of online sales channels. Many online marketplaces not only sell their own products but also allow other businesses to sell theirs. In turn, they provide consumers the convenience of one-stop shopping for all of their needs.
South Korean e-commerce landscape
While online marketplace Amazon has dominated the worldwide online shopping market and has been a leading platform in many countries, this has not been the case in South Korea. Domestic platforms like Naver Shopping and Coupang control the South Korean market. The latter is sometimes colloquially referred to as the “Korean Amazon.” The South Korean market is further defined by its rapid mergers and rebranding processes. A prime example of this is the first South Korean e-commerce market ever to be listed on NASDAQ: Gmarket. Starting in 1999 as a part of Interpark, the website became independent as C2C business Goodsdak in 2000 before rebranding as Gmarket in 2003. After six years, it was taken over by eBay before being acquired by South Korean retail company Emart in 2021. Next to offline retail, Emart also operates other online e-commerce platforms like SSG.com. Contrary to earlier announcements to combine the two online platforms, Emart has yet to follow on their plans.Consumer behavior
Among all major online retailers and marketplaces, food accounted for the largest share of digital sales, followed by home appliances and electronics. In other countries, groceries do not necessarily account for such a large share in sales. The difference may stem from the fact that South Korean retailers often boast of fast, sometimes even same-day, deliveries, ensuring both product freshness and the convenience of online shopping. For online marketplaces, perks like same- or next-day delivery are part of paid membership programs and are often member-exclusive. Some large platforms offer these programs with various benefits for under 5,000 South Korean won per month. With such competitive rates, roughly one in two consumers were found to have used at least one paid membership for mobile shopping.
