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Banseog note · Oct 24, 2026
Gmarket — Carrying losses while betting again on overseas sales channels and seller support
- Where it stands now
- Rebuilding after the joint venture — transaction value has turned, profit has not yet
2025 revenue was KRW 740.5 billion (−23%) and the operating loss KRW 121.7 billion (loss up 81%); Q1 2026 also showed revenue of KRW 169.8 billion and an operating loss of KRW 69.8 billion. By contrast, site transaction value in the first half of 2026 rose 14%, its first increase in four years, and sellers number 660,000 (+5%).
On Korea's National Pension Service public workplace data, 866 people were on the pension register in August 2026, 14 fewer (−1.6%) than in October 2025, almost unchanged. Staff at joint-venture affiliates such as AliExpress Korea and outsourced staff are not included in this figure.
On September 18, 2025, the Korea Fair Trade Commission approved the joint venture with Alibaba on conditions including separation of domestic consumer data. With the joint venture completed, Gmarket changed from a consolidated subsidiary of E-Mart to an equity-method affiliate.
- Three decisions within a year
- Investment: on October 21, 2025 it announced it would invest KRW 700 billion a year from 2026 (KRW 500 billion for seller support, KRW 100 billion for customer benefits, KRW 100 billion for AI) to double transaction value within five years. It also announced plans to hire more than 100 dedicated seller consultation staff.
- Overseas sales channels: on June 28, 2026 it expanded Lazada-linked products from 7 million to 30 million. Cross-border export transaction value in the first half rose 102% over the previous half; the goal is to expand to Europe, South America and Southwest Asia by year-end and grow overseas transaction value to KRW 1 trillion a year within five years.
- Management: in September 2025, CEO James Jang, a Lazada co-founder, took office, and in November a CFO came from Alibaba. In September 2026, leader-level Alibaba staff were seconded to the export organization.
- Three people it will look for
- Seller sales and onboarding consulting — KRW 500 billion a year in seller support and plans for more than 100 consultation staff
- Cross-border export business and global logistics operations — Lazada's five countries, plus expansion to Europe and South America by year-end
- AI search, recommendation and data engineers — KRW 100 billion a year in AI investment, developing within the data separation conditions
- For HR
- Executives from Alibaba and seconded staff work together, so global collaboration skills should be assessed as well. As a loss-making company it is hard to win on compensation, so it is best to show clearly the experience gained from the new work of building overseas sales channels.
- For job seekers
- Experience in open-market seller sales or Southeast Asian cross-border export logistics fits Gmarket's next stage.
A reading written from public sources. Sources: Coverage of 2025 results and Q1 2026 results (2026-08-18, 09-03), Fair Trade Commission joint venture approval (2025-09-18), announcement of KRW 700 billion annual investment (2025-10-21), H1 transaction value (2026-07-09), Lazada link expansion (2026-06-28), Alibaba staff secondment (2026-09-03), coverage of E-Mart's Q2 switch to the equity method (2026-08), National Pension Service register (2026-08). Team size is from Korea's pension register.