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E-COMMERCE | Staff Reporter, Korea
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Amazon rolls out products in Korean online platform 11Street

The US tech giant has been allowed to acquire a stake in the platform.

Amazon is rolling out its products through the e-commerce unit of South Korea's mobile carrier SK Telecom, Yonhap reported. The carrier said users of 11Street can directly purchase the U.S. company's products on its platform.

SK Telecom also said it has also made an agreement with Amazon so that the US tech giant can acquire a stake in 11Street based on the South Korean e-commerce company's progress in the local market.

The announcement comes as SK Telecom is eyeing an initial public offering (IPO) for 11Street. The e-commerce unit is amongst its list of subsidiaries, such as new mobility spinoff T map Mobility, that will pursue IPOs.

The e-commerce unit's sales reached $122.7m (KRW135.7b) in Q3, up 8% from a year earlier, according to SK Telecom.
 

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