eBay Launches Korean Price Comparison Website

about.co.krwww.auction.co.kr, which is the Korean version of the e-commerce website giant eBay have today released details of their forthcoming price comparison website, www.about.co.kr.

About.co.kr, which will be released on Tuesday is set to bring together a wealth of 3000 e-commerce shops which will also include eBay’s www.auction.co.kr listings as part of their offering.

This is not the first time eBay have purchased a marketplace or shopping website. In 2005 eBay acquired Shopping.com for around $620 million.

Yeo Min-soo, the manager of www.auction.co.kr, who will be overseeing operations of the new site, said “www.about.co.kr aims to become more than just an e-commerce destination, but a full-blown web portal that generates profit from search-related traffic”.

www.about.co.kr, which debuts next Tuesday, brings together more than 3,400 e-commerce sites, including major auction sites Auction and Gmarket (www.gmarket.com), online services of department stores and duty free shops Shinsegae, Lotte and Hyundai, and also thousands of small online shops operated by individual entrepreneurs.

Auction hopes that the number of e-commerce sites on About will increase to more than 6,000 by the end of the year, although it has yet to secure a commitment from 11th Street (www.11st.co.kr), an online retailer operated by telecommunications giant SK Telecom.

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