Home&Shopping Partners with Qoo10 and Interpark Commerce to Expand Sales Channels for SMEs

Business Agreement for Expanding Sales Channels of Small and Medium Enterprises

Home&Shopping announced on the 7th that it has signed a business agreement with Qoo10 and Interpark Commerce to revitalize sales for small and medium-sized enterprises (SMEs) and small business owners. Qoo10 is an e-commerce platform company founded in 2010 in Singapore by Koo Young-bae, the founder of Gmarket. Currently, it operates in 24 countries across Asia, including Singapore, Indonesia, Malaysia, China, and India, as well as Northeast Asia, Europe, and the Americas. Qoo10 rose to become the 4th largest player in the domestic e-commerce industry by acquiring TMON in 2022, followed by Interpark Commerce and WEMAKEPRICE.

On the 6th, Home&Shopping held a business agreement ceremony at its headquarters in Gangseo-gu, Seoul, attended by Lee Won-seop, CEO of Home&Shopping, Kim Hyo-jong, CEO of Qoo10 Korea, and Kim Dong-sik, CEO of Interpark Commerce. The domestic e-commerce market, which continues to grow, is estimated to be about 160 trillion KRW, showing an annual growth rate of approximately 15%. In this context, Home&Shopping plans to create synergy through strategic collaboration with Qoo10 and others and expand sales channels for SMEs.

(From left) Lee Won-seop, CEO of Home&Shopping; Kim Hyo-jong, CEO of Qoo10 Korea; and Kim Dong-sik, CEO of Interpark Commerce, are posing for a commemorative photo after signing a business agreement.

Through this agreement, initiatives such as ▲expanding sales channels for SMEs ▲revitalizing sales for small business owners ▲diversifying online distribution channels ▲and entering global markets will be promoted. In particular, to expand sales channels for SMEs, Home&Shopping plans to utilize its broadcasting and online/offline sales networks and actively leverage Qoo10’s IT technology and global network. Additionally, to revitalize sales for small business owners, joint marketing and educational programs will be operated, and mutual cooperation will be strengthened so that small business products can be sold not only on Home&Shopping but also on TMON, WEMAKEPRICE, and Interpark Commerce.

CEO Lee Won-seop said, "With the recent economic downturn and high inflation, consumer sentiment is shrinking, and when consumer sentiment declines, SMEs and small business owners are more severely affected," adding, "We will continue various efforts with the Qoo10 Group to expand sales channels for SMEs and small business owners."

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