Seoul, Nov 16 (SocialNews.XYZ) 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.
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.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz