What is Auction.co.kr? Auction.co.kr Review

Auction is the largest online e-commerce auction website in South Korea, providing comprehensive shopping and price comparison services for products on thousands of e-commerce platforms. In 2001, Auction was acquired by eBay.

About Auction

Founded in 1998, Auction is the first auction e-commerce platform in Korean history. It is also the first e-commerce platform in Korean history. It introduced OPEN MARKET where everyone can sell and buy freely. Currently, it is the mainstream comprehensive e-commerce platform in Korea, covering 48% of the population of Korea.

Auction is now a platform under eBay KOREA.

Advantages of sellers joining Auction

1. High-quality traffic covering South Korea

South Korea has the fastest Internet speed in the world, and Korean consumers are keen on online shopping. The vast majority of buyers are young people aged 20-30. Auction has more than one million monthly independent visitors, and the platform has a steady stream of high-quality traffic.

2. Rich and diverse hot-selling categories

As a comprehensive e-commerce platform under eBay KOREA, it has a wide range of hot-selling categories, including clothing, 3C, luggage, household items, etc., which gives sellers a wide range of space to choose categories and regularly carries out promotional activities for overseas sellers.

3. Continued growth in order value

eBay KOREA, which operates Auction, said that in the first quarter of 2019, China's cross-border e-commerce sales increased by 37% year-on-year, and the sales share of global products on the platform also increased significantly from 23% to 33%. The total e-commerce transaction volume and transaction volume of the platform are in a state of continuous growth. Entering the platform not only allows sellers to easily open the door to the Korean market, but also the competition pressure in the Korean e-commerce market is relatively small. Whoever can enter the platform first will be able to seize the market share first.

Sellers’ Guide

1. Entry conditions

Legal companies in mainland China, Hong Kong, Macau and Taiwan.

2. Required information

(1) A copy of the business license;

(2) A copy of the legal person’s passport;

(3) US dollar account information (supports third-party US dollar accounts);

(4) Application form;

(5) Purchase invoice.

3. Settlement process

(1) Apply and submit documents;

(2) Platform review;

(3) It takes 10 to 12 working days to complete the settlement.