Yahoo is planning to pony up $60 million to buy a 10% share in South Korea’rs No 2. online retailer Gmarket.

South Korea has one of Asia’s fastest growing e-commerce industries.

Yahoo will buy its steak, I mean, stake from the venture capital firm Oak Investment Partners.

It seems Oak Investment is the only significant outside institutional investor in GMarket…in other words, Yahoo had to go through them to get their foot in the door.

Yahoo’s COO, Dan Rosenweigg said "GMarket’s strength in e-commerce complements the strong offerings we already provide in the Korean market across communications, content and search through Yahoo Korea and Overture Korea.

Yahoo.jp in Japan is one of the busiest sites on the Net. Yahoo has tied up with Alibaba and Taobao in China. Now it is has a stronghold in Korea as well.

Looks to me like Yahoo is making its way around Asia…Perhaps India is next, no?

What do you think?

go to 老毕看中国

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