Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Shinsegae, Emart’s parent company, was the final winner in the bid to acquire the Korean unit of the e-commerce platform eBay. Although at first, the company formed a consortium with Naver to win in the bidding, the tech company backed out at the last minute.
Still, Shinsegae’s Emart went on with the bid, and now it was reported to have already signed an agreement with eBay Inc. for the acquisition of an 80% stake in the company’s unit in Korea. It was mentioned that the deal is worth ₩3.4 trillion or around $3.05 billion.
A big shift in the e-commerce market in Korea
As per Yonhap News Agency, Shisegae reached an agreement with the American e-commerce company, and it will now have most of the controlling rights in eBay Korea. It was reported that the acquisition deal is still hinged on the Bank of Korea's (BOK) acceptance of a foreign exchange transaction.
Based on the information provided by eBay, the deal can be completed by the end of the year or early 2022. This is because the regulatory approvals are still pending. Once Shinsegae’s purchase is cleared, it will also benefit from other e-commerce companies such as Auction and Gmarket as they also operate through eBay Korea.
It was also predicted that Shinsegae’s Emart’s purchase of eBay will push a big shift in Korea’s e-commerce market and will be Coupang’s main rival from now on. The retail shopping company is also targeting to beat Naver that has its own e-commerce platform as well.
The stakes arrangement between Shinsegae and eBay
Originally, after Shinsegae acquired 80% of eBay Korea, Naver was supposed to get the remaining 20% for a full acquisition of the platform. However, since the latter has withdrawn its bid, eBay’s HQ in the U.S. will retain the remaining percentage, Pulse News reported.
It was added that this deal is marked as the largest M&A deal that was pursued by the Shinsegae Group. It is a good decision on Shinsegae’s part since it will now become the second-largest player in the local e-commerce market, besting Coupang. Naver is in the first place, but there is a chance for this ranking to change in the future, depending on how eBay Korea will do in the market from now on.
