-  Has launched an e-commerce marketplace ‘11street’ in Malaysia on the 24th, marking the third entry into global e-commerce markets, after moving into Turkey in 2013 and tapping into Indonesia in 2014  
-  Making a swift, stable landing in the market through smooth localization efforts built on extensive operational know-how of 11st
-  Has joined the ranks of the world’s leading e-commerce operators by competing not only with the local players, but also with the global giants such eBay and Rakuten

Seoul, Korea, April 26, 2015—SK Planet announced that it has launched ‘11street’ (www.11street.my) and its mobile application on April 24th at Kuala Lumpur, Malaysia, signaling a full-fledged entry into Malaysia’s e-commerce market.

SK Planet formed a joint venture company Celcom Planet (CEO Hoseok Kim) with Malaysia’s largest mobile network operator Celcom Axiata (www.celcom.com.my) October last year and has recruited sellers for six months, while preparing for further business expansion.

Malaysia has strong growth prospects for the online and e-commerce markets backed by high economic growth rate that reaches 6~7%, along with high internet and smartphone penetration rate. Attracted by the high growth potential, global e-commerce operators such as Rakuten and Rocket Internet are scrambling to enter the market.

SK Planet has produced some impressive results in the markets it entered earlier in 2013 and 2014. In Turkey, n11.com (numara onbir) became the #1 service provider in terms of monthly transaction volumes at the end of 2014 (approximately KRW 160 billion as of Q4 2014) in just 18 months after service launch. In Indonesia, elevenia made stable landing in the market, becoming the #3 service operator in just a year after service roll-out.

These outcomes are noteworthy in that they were delivered against the backdrop of fierce competition with the global players such as eBay and Rakuten. SK Planet said that the company is set to strengthen its competitiveness in the global e-commerce markets with the goal of becoming the #1 service provider in terms of yearly transaction volumes in Turkey and securing the #2 service operator position in Indonesia this year.

Malaysia’s ‘11street’ provides unique customer and seller support services. It runs 11st’s signature service, a 24-hour customer service center and offers seller support services that include merchant training, operation-related consulting and product photography. SK Planet plans to provide unique and differentiated online commerce services that are tailored to the Malaysian market by combining the extensive operational know-how of 11st and the local business capabilities of Celcom Axiata that has the largest number of mobile subscribers.

“Malaysia’s high growth potential and internet penetration encouraged us to make an early entry into its e-commerce market,” said Hoseok Kim, CEO of Celcom Planet. “The proven operational know-how of 11st, both in online and mobile platforms, will be transferred to 11street to deliver unique and differentiated shopping services optimized for the Malaysian market.”

The ‘11street’ launch event held on the 24th featured a celebrity autograph session and product giveaways. Lee Min-ho who made a name for himself as a soap star in Malaysia and Malaysian actress Emily Chan participated in the event as brand ambassadors and introduced ‘11street’ to the customers.