The Japanese ecommerce site Rakuten and the South Korean ecommerce site Gmarket have formed a partnership to encourage cross-border ecommerce between the two countries.
Under the agreement, Gmarket will open a store on Rakuten to reach Japanese customers, and Rakuten will open a store on Gmarket to reach South Korean customers.
Gmarket will offer 200 women's fashion items and 100 cosmetic items in Japan, whilst Rakuten will offer products from its 44,000 merchants to customers in South Korea.
Online shopping is popular in both Japan and South Korea. The Japanese ecommerce market is worth 136 billion US dollars and has a digital buyer penetration rate of 80%, whilst the South Korean ecommerce market is worth 22 billion US dollars and has a digital buyer penetration rate of 75%.Â
