The e-commerce platform 11Street, grappling with a financial crisis, is expected to expedite its forced sale process, as its largest shareholder SK Square has relinquished its call option.
SK Square has suspended talks with Qoo10 over the sale of 11st Street, an e-commerce shopping website, as both sides have failed to agree on the online shopping platform s corporate value.
Korea s antitrust regulator said Sunday it has approved Singapore-based Qoo10 s purchase of two online shopping platforms, as the move is not likely to disrupt competition in the market.
Singapore s Qoo10 said Thursday it acquired the entire stake in the Korean social commerce platform Wemakeprice, in the e-commerce giant s ongoing efforts to expand in Korea.
Qoo10, an e-commerce platform headquartered in Southeast Asia, has acquired control of local online shopping mall WeMakePrice, further expanding its presence in Korea s rapidly growing e-commerce market, according to company officials on Thursday.