Emart completed the acquisition of an 80.01% stake in Korean business of eBay for $3bn.

Emart, a South Korean retailer, completed the acquisition of an 80.01% stake in Korean business of eBay, a multinational e-commerce company, for $3bn. "We are pleased to finalize the deal between eBay Korea and Emart, bringing together two strong e-commerce and retail companies that can unlock tremendous potential in Korea. By joining Emart, the eBay Korea business has an enormous opportunity ahead. We believe this deal allows eBay to further focus on growing our core marketplace and will offer additional value for our customers, employees and shareholders," Jamie Iannone, eBay CEO.