11st, 'Korea's Most Respected Company' Open Market 5 Years in a Row No.1

[Asia Economy Reporter Cha Min-young] 11st announced on the 25th that it was selected as the number one open market for five consecutive years in the ‘Most Admired Companies in Korea’ survey conducted by the Korea Management Association Consulting (KMAC).

In an evaluation of seven open market companies, 11st received high scores in all 12 categories, including companies striving for customer satisfaction, companies excelling in innovation activities to adapt to market changes, trustworthy companies, companies with excellent product (service) quality, companies with high utilization of management assets, and companies with sound financial health.

Since the launch of the new corporation in September 2018, 11st explained that it has been highly evaluated for service improvements aimed at customer satisfaction, continuous innovation activities, and excellent utilization of management assets with the goal of becoming a ‘commerce portal trusted by customers.’

11st has launched various services such as ‘11st Content,’ which provides useful shopping information, ‘Real-time Shopping Keyword Service,’ ‘SK Pay’ with enhanced payment convenience and reward benefits, ‘Safe Refund Service,’ ‘Return Insurance,’ and ‘Home Pick Service.’ It also introduced the video review corner ‘Kkuk Kkuk Service,’ where customers can participate directly.

Activities that satisfy sellers as well are being carried out simultaneously. 11st’s merchandisers (MDs) are seeking ways for mutual growth with sellers through regional meetings where they visit sellers nationwide. The Intellectual Property Protection Center platform was also newly renovated to protect intellectual property rights such as trademarks, patents, copyrights, and portrait rights.

Last year, as a result of continuing customer service innovation and profitability improvement, the goal of turning a profit was also achieved.

Lee Sang-ho, CEO of 11st, said, “I believe this is the result of recognizing 11st’s efforts to continuously improve customer service last year,” and added, “This year as well, we will strive to implement an innovative shopping environment by introducing services that provide differentiated value as a ‘commerce portal’ to customers.”

This content was produced with the assistance of AI translation services.