The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    SHINee celebrates 15th anniversary of debut: 'It feels surreal'

  • 3

    Seoul on alert over Pyongyang's imminent spy satellite launch

  • 5

    Seoul city erroneously sends emergency alert after NK launch

  • 7

    Memorial Day 2023

  • 9

    Brave Girls to restart activities under new name

  • 11

    Japanese destroyer flies controversial flag as it arrives in Korea for joint drill

  • 13

    ANALYSISChina's ban on Micron tests Washington-Seoul alliance

  • 15

    Korea's diplomacy put to test amid signs of thaw in US-China relations

  • 17

    Local governments appeal to young generations through YouTube

  • 19

    'Transformers: Rise of the Beasts' raises bar with epic battle scenes

  • 2

    Hybe's new boy group Boynextdoor aims to be 'one and only' presence in K-pop

  • 4

    ENHYPEN reaches new career high with latest album 'Dark Blood'

  • 6

    Korea's household debt-to-GDP ratio highest among 34 major economies

  • 8

    Korea eyes launch of 4th Nuri space rocket in 2025

  • 10

    Vietnam emerges as major market for Korean chipmakers

  • 12

    Purported N. Korean 'space launch vehicle' falls into Yellow Sea after 'abnormal' flight: S. Korean military

  • 14

    Rapper Mino attends sister's wedding in U.S. amid military service

  • 16

    Top 20% of income earners fuel increase in Q1 consumption as pandemic ends

  • 18

    Korea to ease immigration rules to attract more medical tourists

  • 20

    Police brace for massive union protest

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Wed, May 31, 2023 | 12:16
Companies
GS Retail to invest W20 bil. in Danggeun Market
Posted : 2021-08-09 16:57
Updated : 2021-08-09 16:58
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Two workers at GS Retail hold GS Retail and GS Shop signs at a GS25 convenience store in Seoul in this 2020 file photo. Korea Times file
Two workers at GS Retail hold GS Retail and GS Shop signs at a GS25 convenience store in Seoul in this 2020 file photo. Korea Times file

By Kim Jae-heun

Local retail giant GS Retail is investing 20 billion won ($1.74 million) in the country's largest secondhand marketplace app, Danggeun Market.

According to a local investment bank, Sunday, GS Retail will join in Danggeun Market's Series D investment round as a new participant. The retail giant is reviewing the investment through a local private equity fund

The secondhand goods marketplace platform is nearing the end of its Series D round to attract 180 billion won in funding. Its valuation ― which has multiplied 15-fold from its Series C investments in 2019 ― is currently estimated at 3 trillion won ($2.62 billion).

Danggeun Market has 15 million monthly average users, but is a latecomer to the online secondhand business. It launched its service after Beongaejangteo, the operator of a mobile secondhand marketplace since 2011. However, Danggeun Market has grown into the most influential platform here with its local resident-based infrastructure. GS Group, the mother company of GS Retail, reportedly recommended that its affiliate participate in Danggeun Market's Series D round.

GS Retail has long been eyeing Danggeun Market. The two firms signed a memorandum of understanding in February to introduce a "last-minute discount sale" service, whereby the online secondhand marketplace will sell its products at 16,000 stores owned by GS Retail.

A number of major companies here are beefing up their collaboration with the secondhand market service app. Until 2008, the market size of domestic online secondhand trading firms stood at 4 trillion won, but this has soared fivefold to reach 20 trillion won. In February, Lotte Shopping, a retail unit of Lotte Group, invested 30 billion won in Junggonara, the main rival of Danggeun Market. Meanwhile, Hyundai Department Store established a business partnership with Beongaejangteo.

GS Retail is taking aggressive steps to expand its online business after merging with GS Home Shopping in July. It is re-organizing its investment portfolio based on prospective startups, in order to create synergy between its online and offline businesses.


Emailjhkim@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Korea to ease immigration rules to attract more medical tourists Korea to ease immigration rules to attract more medical tourists
2Big businesses face growing union pressure to extend retirement age Big businesses face growing union pressure to extend retirement age
3Running convenience stores becomes popular among people in 20s, 30s Running convenience stores becomes popular among people in 20s, 30s
4Anti-corruption watchdog set to investigate crypto assets of lawmakers Anti-corruption watchdog set to investigate crypto assets of lawmakers
5Naver suffers shrinking online search market share Naver suffers shrinking online search market share
6Sluggish exports behind weak Korean won Sluggish exports behind weak Korean won
7Seoul resident clashes with authorities for raising dogs to nab 'North Korean spies' Seoul resident clashes with authorities for raising dogs to nab 'North Korean spies'
8Pyongyang may have delayed spy satellite launch due to technical issues Pyongyang may have delayed spy satellite launch due to technical issues
9Doctors, pharmacists to receive 30% bonus for offering telemedicine service Doctors, pharmacists to receive 30% bonus for offering telemedicine service
10HanmiGlobal to monitor building of 80,000 houses for Neom construction workers HanmiGlobal to monitor building of 80,000 houses for Neom construction workers
Top 5 Entertainment News
1'Elemental' director on bringing his personal story of immigration to cinema 'Elemental' director on bringing his personal story of immigration to cinema
2SHINee celebrates 15th anniversary of debut: 'It feels surreal' SHINee celebrates 15th anniversary of debut: 'It feels surreal'
3ENHYPEN reaches new career high with latest album 'Dark Blood' ENHYPEN reaches new career high with latest album 'Dark Blood'
4'Transformers: Rise of the Beasts' raises bar with epic battle scenes 'Transformers: Rise of the Beasts' raises bar with epic battle scenes
5[INTERVIEW] Long-awaited extension of Korean Pavilion at Venice Biennale to be pushed forward INTERVIEWLong-awaited extension of Korean Pavilion at Venice Biennale to be pushed forward
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group