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 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
  • Hangzhou Asian Games
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 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
  • Hangzhou Asian Games
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

    K-pop group Kingdom recalls album cover resembling Quran

  • 3

    BTS' Jungkook to drop 2nd solo single '3D'

  • 5

    4 in 10 Koreans experience overdue wages: survey

  • 7

    Korea has world's highest senior poverty rate: data

  • 9

    Korean tennis player Kwon Soon-woo eliminated in 2nd round at Hangzhou Asiad

  • 11

    K-pop fans rally in Seoul against luxury brands' failure on climate action

  • 13

    Deoksu Palace's reconstructed Dondeokjeon hall to open to public

  • 15

    Korean gov't faces international criticism for R&D budget cuts

  • 17

    Hyundai Steel decides to form steel pipe unit

  • 19

    SK earthon begins crude oil production in South China Sea

  • 2

    Actor Song Joong-ki still hungry for new movie roles

  • 4

    Tanghulu captures hearts of Korean millennials and Gen Z

  • 6

    S. Korea flexes military might in rare parade with US in central Seoul

  • 8

    PHOTOSHarvest season arrives

  • 10

    All BTS members renew contract with BigHit

  • 12

    Serial killer transferred to detention center in Seoul equipped with execution chamber

  • 14

    Over half of Koreans want continuous strengthening of alliance with US: poll

  • 16

    LG Uplus, Hanwha develop ceiling-mounted EV charging system

  • 18

    EXCLUSIVELawmakers to submit resolution urging China to free N. Korean escapees

  • 20

    Main opposition chief in showdown with prosecutors over arrest

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, September 27, 2023 | 03:34
Companies
GS Retail to invest W20 bil. in Danggeun Market
Posted : 2021-08-09 16:57
Updated : 2021-08-09 16:58
Kim Jae-heun
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
 
miguel
wooribank
Top 10 Stories
1S. Korea flexes military might in rare parade with US in central Seoul S. Korea flexes military might in rare parade with US in central Seoul
2Korea has world's highest senior poverty rate: data Korea has world's highest senior poverty rate: data
3For closer business ties between Korea, Vietnam For closer business ties between Korea, Vietnam
4Seoul Welcome Week to return for first time since pandemicSeoul Welcome Week to return for first time since pandemic
5Gov't to boost Korean language education for multiethnic students Gov't to boost Korean language education for multiethnic students
6POSCO International to enter US grain market POSCO International to enter US grain market
7BOK warns of worsening household debt situation BOK warns of worsening household debt situation
8Late Samsung chairman's love of animals helps change Korea's pet culture Late Samsung chairman's love of animals helps change Korea's pet culture
9SK Telecom to triple AI investment over next 5 years SK Telecom to triple AI investment over next 5 years
10Biden will try to 'manage' NK nuclear issue, not resolve it: US expert Biden will try to 'manage' NK nuclear issue, not resolve it: US expert
Top 5 Entertainment News
1[INTERVIEW] ONEUS returns as 'mermaid prince' INTERVIEWONEUS returns as 'mermaid prince'
2Kep1er unveils 'Magic Hour' with fresh perspective on love Kep1er unveils 'Magic Hour' with fresh perspective on love
3Rwandan artists bring diversity to Seoul's art scene Rwandan artists bring diversity to Seoul's art scene
4K-pop group Kingdom recalls album cover resembling Quran K-pop group Kingdom recalls album cover resembling Quran
5BTS' Jungkook to drop 2nd solo single '3D' BTS' Jungkook to drop 2nd solo single '3D'
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