First Press Conference Since Establishment of Shinsegae-Alibaba Joint Venture
2026 Declared as the Year of Gmarket’s Resurgence
700 Billion Won to Be Invested Next Year in Seller Support and AI
Expanding Overseas?Plans to Enter North Americ
"Gmarket's new vision is to become a global-local marketplace. We will actively pursue a mid- to long-term strategy based on two pillars: strengthening our domestic competitiveness and expanding globally."
James Jang (Korean name: Jang Seunghwan), CEO of Gmarket, stated this at the Media Day event held at COEX in Gangnam-gu, Seoul on the 21st, adding, "We will make 2026 the first year of Gmarket's new leap forward and reclaim our position as the number one open market in Korea." Gmarket announced its plan to invest approximately 700 billion won annually starting next year to expand both its domestic and overseas businesses, with the goal of more than doubling its gross merchandise volume (GMV) within five years.
James Jang (Seunghwan Jang), CEO of Gmarket, is speaking at the Media Day held at COEX in Gangnam-gu, Seoul on the 21st. Photo by Jaehyun Park
On this day, Gmarket held its first press conference since becoming a subsidiary of a joint venture (JV) established by Shinsegae Group and China's Alibaba International, each holding a 50:50 stake, following approval of the business combination review by the Fair Trade Commission on September 18. The company introduced its future business strategies and vision. CEO Jang was appointed as the new head of Gmarket through Shinsegae Group's regular executive reshuffle at the end of last month. He is a founding member of Alibaba's Southeast Asian platform, Lazada.
Gmarket plans to invest 700 billion won as initial costs next year alone. Of this, 500 billion won will be allocated to strengthening seller competitiveness. Direct support programs for existing sellers, such as promotional assistance and sales growth, will receive 350 billion won. For example, during major promotional events like Big Smile Day, Gmarket will cover 100% of customer discount costs. The company will also eliminate separate fees previously charged for discount coupons, reducing the financial burden on sellers.
For policies aimed at fostering new sellers and small- and medium-sized sellers, Gmarket will invest over 20 billion won annually, a 50% increase from before. To help new sellers settle quickly, the company also plans to introduce a "zero commission" policy, waiving fees for a certain period.
Min-Kyu Lee, Head of Sales at Gmarket, is speaking at the Media Day held on the 21st at COEX in Gangnam-gu, Seoul. Photo by Jae-Hyun Park
Min-Kyu Lee, Head of Sales Division at Gmarket, said, "Starting on the 30th, we will completely remove discount coupon fees, enabling sellers to have a more transparent and predictable profit structure," adding, "We also plan to provide various sales benefits to help new small sellers grow successfully after joining the platform."
Gmarket will invest 100 billion won annually in promotions for customers. For instance, during the upcoming Big Smile Day event on November 1, the company plans to increase customer support by more than 50% compared to last year. Big Smile Day, Hangawi Big Sale, Seol Big Sale, and G-Rock Festival will be developed as Gmarket's four flagship discount events.
The remaining 100 billion won of the new investment will be used to leverage Alibaba's accumulated artificial intelligence (AI) technology and know-how. First, by using deep learning technology, Gmarket will detect customers' real-time behavioral patterns and provide more personalized results. Starting next year, the company will enhance "multimodal search," which identifies customer intent-including unstructured data such as feelings and sensations-and delivers a variety of search results. For example, if a customer searches for "running shoes with soft material," the system will interpret elements like "softness" and "material" from images to recommend suitable products.
Gmarket also plans to differentiate itself from domestic e-commerce competitors by targeting overseas markets. Through Lazada, Alibaba's Southeast Asian platform, Gmarket is already selling 20 million products across five countries: Singapore, Malaysia, Thailand, the Philippines, and Vietnam. The company aims to expand its reach to South Asia, Southern Europe-including Spain and Portugal-and further into North America, Central and South America, and the Middle East by 2027. In addition, with growing global interest in K-beauty, K-fashion, and K-pop, Gmarket plans to increase cross-border sales and achieve an annual GMV of over 1 trillion won within five years.
Iminki, in charge of seller growth at Gmarket, is speaking at the Media Day held on the 21st at COEX in Gangnam-gu, Seoul. Photo by Jaehyun Park
Iminki, Head of Seller Growth at Gmarket, explained, "We are upgrading 'Gmarket Global,' our global sales platform, to enable sellers to reach international markets beyond just being a domestic e-commerce platform." He added, "Once sellers register their products on Gmarket, we provide a one-stop overseas sales process, including translation, international shipping, and customer service marketing."
Regarding concerns about personal data leaks due to the joint venture with Alibaba, the company assured there is no need to worry. Kim Joungho, Head of PX Division at Gmarket, stated, "Even after the joint venture, Gmarket will remain solely responsible for managing personal data," adding, "Data required for AI training will be stored in an independent cloud, and no personally identifiable information will be transmitted." He continued, "We will maintain the highest global standards for security and management."
James Jang (Seungho Jang), CEO of Gmarket (from left), Min-kyu Lee, Head of Sales Division at Gmarket, Min-gi Lee, in charge of Seller Growth at Gmarket, and Min-kyu Kim, Head of PX Division at Gmarket, are speaking at the media day held on the 21st at COEX in Gangnam-gu, Seoul. Photo by Jaehyun Park
On the relationship between Aliexpress and Gmarket, CEO Jang clarified that they will be operated separately. He said, "There are no plans to operate Aliexpress Korea and Gmarket together," adding, "The Fair Trade Commission's approval also included a corrective order requiring separate operations, and we will fully comply with that order."
Regarding the operation of Auction, he said, "Our main task right now is to upgrade both Gmarket and Auction," adding, "Our top priority is to provide better experiences for customers and sellers using these platforms." He continued, "I believe the moment will come when Gmarket will be rebranded in the market," adding, "Although it is difficult to specify the timing, we will share more detailed strategies in the future."
On the differences between domestic and overseas e-commerce platforms, CEO Jang commented, "The Korean e-commerce market is fundamentally strong and robust," adding, "The main difference from overseas e-commerce is that there are fewer entertainment elements, such as Shorts and gamification." He added, "It would be beneficial to incorporate more entertainment features for those who shop for fun in the Korean market."
He continued, "The global-local marketplace vision has been in place since Alibaba and Shinsegae Group established the joint venture, with both companies intending to operate Gmarket together," adding, "We already have detailed plans regarding expertise and funding." He concluded, "What is most needed now is to improve areas that are difficult to address with Gmarket's current technology. As the first step, we will upgrade our overall system, leveraging Gmarket's first-generation e-commerce knowledge and experience, while bringing our legacy systems up to state-of-the-art standards."
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