eBay has plans to sell its South Korean business for around $3.6 billion (4 trillion won), according to Korea Economic Daily.
The local newspaper said that the online marketplace is selling eBay Korea to Shinsegae Group’s E-Mart and web portal company Naver.
Shinsegae is a South Korean department store franchise headquartered in Seoul, while E-Mart is the country's largest retailer.
In a statement, E-Mart addressed the “unconfirmed” rumours, saying that on 7 June it had participated in the main bidding for the acquisition of shares in eBay Korea.
The company explained that while it is currently in discussion with eBay, the acquisition has not yet been confirmed.
E-Mart said it would publish further details once the deal had been finalised, or within the next month.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
The Very Group
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