Buying Amazon Products on 11st... SKT-Amazon E-commerce Collaboration Confirmed

[Asia Economy Reporter Seulgina Jo] From now on, customers will be able to purchase Amazon products on 11st.

SK Telecom announced on the 16th that it is promoting cooperation with Amazon, the world's largest e-commerce company, to innovate the e-commerce business. Its subsidiary 11st and Amazon plan to reveal detailed information as soon as the service launch preparations are complete. Internally, the service is expected to start next year. ▶Refer to the November 13th issue, pages 1 and 3 ([Exclusive] SK joins hands with Amazon)

In this regard, SK Telecom signed a share participation agreement with Amazon. Through this, Amazon may be granted rights to subscribe to new shares if certain conditions are met based on 11st's IPO and business performance in the Korean market. The specific investment amount has not been finalized.

SK Telecom plans to grow 11st into a 'global distribution hub platform' through this cooperation with Amazon. While providing customers with a better shopping experience, it also aims to create a foothold for domestic sellers to expand overseas. SK Telecom stated, "We are pleased that the global super-collaboration with Amazon is bearing fruit," and added, "We will continue to create synergy in various ICT fields including commerce with Amazon and strive to invigorate the entire industry."

11st said, "We expect to provide a unique purchasing experience to domestic customers together with Amazon," and added, "We will work hard to offer differentiated benefits to customers as soon as possible through smooth cooperation with Amazon."

Amazon stated, "11st shares our 'Customer Obsession' and is a leading e-commerce operator in Korea," and added, "We expect to provide a differentiated experience where customers can shop for Amazon products through this cooperation."

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