Market Kurly "Preparing for Listing Within the Year... Comprehensive Review Including New York"

[Asia Economy Reporter Yuri Kim] Market Kurly has begun discussions with the financial investment industry aiming for a stock market listing within this year. The market is comprehensively reviewing options including the U.S. market. At a time when the domestic e-commerce market landscape is undergoing significant changes alongside Coupang's listing on the New York Stock Exchange (NYSE), Market Kurly's decision to go public is expected to be another major variable.

On the 12th, Market Kurly stated, "It was officially announced through a recent internal notice that we are considering a stock market listing within this year," adding, "We are in the stage of comprehensive review including the New York Stock Exchange." It is known that Kim Seul-ah, the founder and CEO of Market Kurly, has been in discussions with investors regarding the listing since early this year.

Market Kurly explained that their confidence in sales is driving the consideration of going public. The market estimates Market Kurly's sales last year to be around 1 trillion won, approximately double the 428.9 billion won recorded in 2019. However, operating losses are expected to be at a similar level to 2019's 98.6 billion won. The company stated, "It is encouraging that alongside significant sales growth, the ratio of operating loss to sales is being reduced."

The ongoing tectonic shifts in the domestic e-commerce industry also played a role. In the e-commerce sector, where economies of scale are crucial, securing 'ammunition' is essential for survival.

The company currently shaking up the industry landscape is Coupang. On the 11th (local time), Coupang closed its first day of trading on the NYSE at $49.25, up 40.7% from the IPO price of $35, marking a successful debut. Its market capitalization based on the closing price reached $88.65 billion (approximately 100.2631 trillion won). Coupang has announced large-scale logistics investments backed by the strong capital raised through the listing. The industry expects these funds to also be used as ammunition for mergers and acquisitions (M&A) to maximize economies of scale.

In response, industry alliances are becoming active, such as Emart, the offline retail leader by transaction volume, and Naver, the online retail leader, preparing for a share exchange. The question of who will acquire eBay Korea, which operates Gmarket, Auction, and G9, is also a major point of interest in the industry. Although the acquisition funds, estimated between 4 to 5 trillion won, pose a hurdle, the acquisition would place the buyer in the leading competition within the industry's top three in terms of transaction volume. Kakao and Shinsegae Group are mentioned as strong acquisition candidates.

A retail industry insider said, "The e-commerce industry is a winner-takes-all structure concentrated on the top company," adding, "With Coupang's successful listing, mergers and acquisitions as well as listing considerations by various companies will continue as they strive to survive among the industry leaders."

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