SSG.com Ends Open Market... Adjusts Business Areas with Gmarket

SSG.com to Gradually End Open Market by Late October
Reducing Overlap with Gmarket to Focus on Core Competencies
SSG.com Centers on Trust-Based Verified Products and Brands
Gmarket Expands Assortment and Enhances Price Competitiveness
"Aiming to Build a Sustainable Model for Growth and Profitability"

[Asia Economy Reporter Yuri Kim] SSG.com will gradually shut down the open market it has been operating since last year by the end of next month. This move is aimed at adjusting the business areas with Gmarket.

On the 14th, SSG.com explained this decision as "a measure to minimize overlapping business areas with eBay Korea (now Gmarket), which was incorporated into Shinsegae Group at the end of last year, while intensively developing each company's core competencies to gain an advantage in the fiercely competitive e-commerce market."

SSG.com started operating the open market service from June last year to secure product diversity. However, with the launch of the integrated membership 'Smile Club' with Gmarket this year, the two companies decided to adjust overlapping business areas to enhance the platform expertise of each. SSG.com and Gmarket will reallocate resources and focus investments on core competencies to maximize the unique strengths of their respective platforms.

SSG.com stated, "Having grown based on consumer trust, we will continue to solidify our role as a premium platform where customers can always trust and purchase by selling highly reliable products from verified partners." This means that SSG.com will establish itself as a specialized online store that can enhance its brand value. The company added, "We plan to discover and showcase various verified domestic and international brands to build a unique platform preferred by both sellers and consumers."

Gmarket plans to strengthen its identity as an open market platform by expanding the largest product assortment in Korea and offering the lowest prices formed through competition among sellers. Gmarket and Auction will focus on securing overwhelming product variety and quality based on high seller accessibility, continuously growing as platforms with high customer satisfaction and leading the domestic e-commerce market.

An SSG.com official said, "We are strengthening collaboration with Gmarket to respond to the rapidly changing market environment," adding, "All employees will work together to create a sustainable e-commerce model that can secure both growth and profitability."

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