11st, Last Year's Sales 561.4 Billion KRW... Operating Loss of 69.4 Billion KRW

[Asia Economy Reporter Lim Chunhan] 11st announced on the 5th that its sales last year increased by 3% compared to the previous year, reaching 561.4 billion KRW. Operating losses widened to 69.4 billion KRW compared to the previous year.

11st explained, "Last year, the e-commerce market competition intensified significantly, and negative market factors such as continued high-intensity social distancing were reflected, leading to increased costs for competitive response and new service marketing."

Last year, 11st introduced ▲Amazon Global Store service ▲live commerce ‘Live11’, AWS solution adoption ▲expansion of Shocking Delivery (next-day arrival for orders placed before midnight) ▲video reviews and Tipkok. The number of daily video review registrations currently reaches 15,000, and the number of new sellers joining annually increased by 20% compared to the previous year.

11st plans to continue pursuing a business strategy that secures both profitability and growth this year while maintaining ‘investment for growth.’

An 11st official said, “We will enhance corporate value by securing market-leading e-commerce competitiveness such as the growth of Amazon Global Store, strengthening the fundamental competitiveness of the open market business, and providing fast delivery services based on direct purchase, and successfully achieve the planned IPO in 2023.”

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