Interpark Commerce Signs Business Transfer Agreement with AK Mall

Qoo10-AK Plaza Strategic Partnership... Joint Response to Commerce Market

Qoo10 announced on the 27th that it has signed a business transfer agreement for the internet shopping mall 'AK Mall' through its subsidiary Interpark Commerce, in a strategic partnership with AK Plaza. This agreement was promoted to combine the strengths of Qoo10 and AK Plaza to enhance commerce competitiveness, support domestic manufacturers' entry into the global market, and revitalize the online businesses of both companies.

AK Mall operates its online business by selling products from partner brands, mainly focusing on department store items housed in AK Plaza. Through this strategic partnership, AK Plaza will concentrate on its core offline department store business, while Interpark Commerce and Qoo10 will accelerate the growth of the online department store section leveraging their platform competitiveness.

Interpark Commerce aims to promote not only domestic sales of brands and sellers listed on AK Mall but also their overseas expansion. AK Plaza also agrees with Qoo10 Group's strategic direction and plans to support the global expansion of both online and offline listed companies. In addition to exports based in Southeast Asia, they plan to expand into the US and Europe using 'Wish,' recently acquired by Qoo10. Furthermore, with logistics support from Qxpress, Qoo10's global logistics subsidiary, K-brands can proceed with overseas expansion nonstop.

Kim Dong-sik, CEO of Interpark Commerce, said, "This partnership between AK Mall and Qoo10 Group will further solidify Interpark Commerce's position in the global online market and provide broader sales opportunities for domestic and international manufacturers." He added, "By accelerating AK Mall's entry into the global market and leveraging the strong platform competitiveness offered by Interpark Commerce and Qoo10 Group, we expect to create new growth engines."