Gmarket bets US$586.9M a year to reverse falling sales and chase US$33.5B goal

What's the deal? South Korean e-commerce platform Gmarket will invest US$586.9M a year in seller support, customer perks, and AI, shifting from cost-cutting to a growth strategy aimed at rebuilding gross merchandise value (GMV). The spending breaks down into US$419.2M for seller support, US$83.8M for promotions including free returns, and US$83.8M for AI search and recommendation upgrades.

Why now? Gmarket has posted years of losses. Revenue fell from US$1B in US$1.7B to US$805.9M in 2024 and US$620.8M in 2025, while operating losses widened from US$26.8M to US$102.6M over the same period.

Once a leading open marketplace with over US$16.8B in standalone GMV in 2021, Gmarket lost ground after Shinsegae GroupDealroom has a profile for this one. Try Dealroom → acquired it in 2021. Coupang scaled fast with rocket delivery and its Wow membership, NaverDealroom has a profile for this one. Try Dealroom → expanded via Smart Store, and Chinese platforms piled in.

What's the endgame? The investment is the first step toward a target set after Shinsegae and Alibaba International launched a joint venture: reaching US$33.5B in GMV within five years. More than 70% of the funds go to sellers, whose products draw customers and restore the marketplace flywheel.

The joint venture also opens exports. Sellers can reach Southeast Asia via Lazada and Europe and North America via AliExpressDealroom has a profile for this one. Try Dealroom →, while Alibaba logistics arm CainiaoDealroom has a profile for this one. Try Dealroom → handles shipping and customs.

Early signs: First-half GMV rose 14% year on year, with average order value up 12% and conversion up 14%. Sellers numbered 660,000 as of 1 July 2026, up 5%, and cross-border GMV more than doubled versus the prior half. Some 17,000 domestic sellers now join Gmarket's global program, and first-half GMV through Lazada jumped 102%.

What could go wrong? A GMV rebound may not translate into profit soon. Expanded seller support, free returns, and aggressive marketing all raise short-term costs.

The signal: Gmarket is accepting planned losses to reclaim scale in a market Coupang (roughly US$41.9B in annual GMV) and Naver (about US$33.5B) now dominate — for now, restoring transaction volume and its customer base matters more than short-term profit.

Read more: BizWatch

Image credit: Pengdo-oing