Amazon partners SK Telecom to boost e-commerce biz in S Korea

Seoul, Nov 16 : South Korean mobile carrier SK Telecom and Amazon said on Monday they are partnering to allow people to have easier access to products on the US e-commerce giant’s platform.

The carrier said users of its e-commerce unit 11Street Co. can directly purchase Amazon products on its 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 U.S. 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, reports Yonhap news agency.

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The carrier 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 Co., that will pursue IPOs.

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

Disclaimer: This story is auto-generated from IANS service.

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