October 03, 2023

Amazon taps into Korea by investing in 11st

PUBLISHED : November 16, 2020 - 16:18

UPDATED : November 16, 2020 - 16:18

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • sms

Amazon is partnering with Korean e-commerce platform 11st to avail purchase of its goods to Korean customers, 11st operator SK Telecom said on Nov. 16.

According to SKT, which is SK Group’s mobile carrier that operates online shopping platform 11st, the two made an agreement for Amazon’s equity participation in 11st.

Amazon is reportedly expected to purchase up to 30 percent of 11st’s company shares. Depending on 11st’s performance, which includes the company’s plans for an initial public offering, industry observers believe Amazon would be given preemptive rights to the stock.

11st said it has been offering stable service for more than 12 years in South Korea and is offering differentiated products from its cooperation with SKT.

“We are glad to see the fruit of our work for global partnership with Amazon,” a SKT official said.

“We will work to boost the industry by continuously creating synergies with Amazon in the information and communication technology areas, which includes commerce businesses.”

Saying they are in an early stage of their agreement, 11st said it will reveal more details to new services it plans to launch with Amazon.

“11st shares our vision for ‘Customer Obsession’ and is a leading e-commerce business in South Korea,” Amazon said.

“From our cooperation, we look forward to provide customers with differentiated experience of shopping products available in Amazon.”

By Jo He-rim  (

  • 페이스북
  • sms


Herald Corporation|Title : The Investor
CEO : Jeon Chang-hyeop|Publisher. Editor : Jeon Chang-hyeop
Chief Privacy Officer & Juvenile Protection Manager : Ahn Sung-mi
Date of registration : 2016. 06.21|Date of issue : 2016. 06. 21
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099