1st Generation E-commerce Company 'Interpark' Pursues Sale

[Asia Economy Reporter Minji Lee] The sale of Interpark, a 'first-generation e-commerce company' well known for its online bookstore and performance ticket reservations, is being pursued.

According to the financial investment industry on the 12th, Lee Ki-hyung, the largest shareholder and CEO of Interpark, recently appointed NH Investment & Securities as the sales advisory firm and is reportedly pushing forward with the sale of shares. Currently, CEO Lee and related parties hold 28.41% of Interpark's shares.

The company's market capitalization, based on the closing price of 5,650 KRW on that day, is 456.3 billion KRW, and the value of shares held by CEO Lee and related parties is approximately 128.4 billion KRW. The current stock price has risen about 150% compared to the end of last year, reflecting expectations of economic recovery.

Interpark has stood out in the domestic e-commerce market since launching Korea's first internet shopping service in June 1996. Last year, its sales amounted to 3.1692 trillion KRW, a 7.1% decrease from the previous year, and it recorded an operating loss of 11.2 billion KRW, turning to a deficit. In the first quarter of this year, sales increased by 5% to 793.6 billion KRW, but it recorded an operating loss of 6.1 billion KRW. Although it experienced a significant decline in performance last year due to the rapid rise of competitors and the impact of COVID-19, which sharply reduced demand for performances and travel, it still holds a 70% market share in the performance and ticket reservation sector, which is expected to be an investment point for potential buyers.