Jung Hyung-kwon, New CEO of Gmarket, "Regaining No.1 in E-commerce... Achieving Innovation and Rebound"

"Feeling Serious Responsibility... Communication and Collaboration Are Essential"

Jung Hyung-kwon, the new CEO (Vice President) of Gmarket, expressed his ambition to reclaim the top position in the industry.

According to the distribution industry on the 8th, Jung stated in an email sent to Gmarket employees that "I feel a grave responsibility in taking on this role with the mission of innovation and resurgence of Gmarket during this increasingly fierce and rapidly changing era of e-commerce turmoil."

Jung Hyung-kwon, CEO of Gmarket. [Photo by Gmarket]

Jung said, "I have highly valued the history and innovation of Korea's e-commerce that you have created, and I believe in your amazing potential to make even greater leaps forward," adding, "With my know-how and experience from global IT companies, I will do my best for the remarkable development and renewal of you and Gmarket."

He presented the goal of reclaiming the number one spot in the e-commerce industry. He emphasized, "The process of change to regain the top position in the industry will never be easy, but to overcome this turbulent period well, communication and collaboration among each other are desperately needed."

He also set the goal of "innovation and resurgence" for Gmarket. Jung stated, "If new leadership and all of you, who possess diverse experience and expertise in Korea's e-commerce, become ONE TEAM and move forward together, I am confident that the challenging goal of 'Gmarket's innovation and resurgence' can be fully achieved," and “I am very grateful to be part of such a wonderful organization and will do my utmost for a more advanced future of Gmarket.”

Jung also plans to communicate with employees. He said, "I will arrange several opportunities soon to personally greet you and share the future direction and vision of our business," adding, "I will strive even harder to build trust with you through transparent communication."

Meanwhile, Jung was appointed as the new CEO of Gmarket on the 19th of last month. The new CEO previously served as the head of Alibaba Korea, which operates the competing e-commerce platform 'AliExpress,' and was also the representative of Alipay Europe, Middle East, and Korea. Prior to that, he worked at Goldman Sachs and Credit Suisse, and also served as a financial executive at Coupang.

Gmarket expects Jung, a financial expert with experience across investment, e-commerce, and fintech industries, to lead the company’s structural reform. Through this, they anticipate achieving balanced growth based on profitability.

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