Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events
×

SK Telecom’s 11Street to let shoppers buy from Amazon

11Street

South Korea’s largest mobile carrier, SK Telecom Co, says it will partner with Amazon to allow South Koreans to have easier access to products on the US e-commerce giant’s platform.

The carrier said users of its e-commerce unit 11Street will be able to directly purchase products on the Amazon US platform. It did not provide a specific time frame for the service’s launch.

SK Telecom said it has also made an agreement with Amazon so that the US tech giant has the right to acquire a stake in 11Street based on the South Korean e-commerce company’s progress in the local market.

The announcement comes as SK Telecom is currently planning an initial public offering (IPO) for 11Street.

The telco said in its third-quarter conference call that the e-commerce unit is among its list of subsidiaries, such as new mobility spinoff T map Mobility, that will pursue IPOs.

The e-commerce unit’s sales reached US$122.7 million in the third quarter, up 8 per cent from a year earlier, according to SK Telecom.

You have 7 free articles.