The merger of Auction and Gmarket was finally approved by Korea’s anti-trust regulator, Korea Fair Trade Commission (KFTC).

As a gesture of goodwill, eBay became the first company to sign an agreement with the KFTC for fair trade in the growing online E-commerce market. The signing on 14 July was attended by the Secretary-General of KFTC, Chairman of the Committee on Consumer Policy, President of the Korea Consumer Agency and Head of eBay Korea Joo-Man PARK in Seoul, Korea. During the declaration ceremony, eBay agreed to adopt a “Consumer Complaints Management System” to better protect consumer rights.

Korean eBay sellers and their representatives were present at the signing ceremony.