Sourcing from Gmarket: Guide for Hong Kong trading companies and wholesalers

The popularity of Korea’s beauty, fashion, snacks, and electronic gadgets continues to rise. Coupled with the country’s relatively stable currency, an increasing number of Hong Kong businesses are sourcing products from South Korea. Naturally, a cost-effective way to do this is through Gmarket, South Korea’s largest eCommerce platform, which lists millions of products.

This article provides an in-depth guide to sourcing from Gmarket. We will highlight the platform’s advantages and help you understand the requirements, ordering process, fees, and other key considerations. 

What is Gmarket? 

Founded in 2000, Gmarket has grown to become South Korea’s largest eCommerce platform. With over 26 million users and an average monthly spending of ₩167,202 per person (approximately HK$932), Gmarket is the leader in the Korean market. 

One of the key factors behind Gmarket’s success is its vast product selection. Korean-made products are renowned for their quality and innovation, which has helped Gmarket attract consumers from mainland China, Hong Kong, and Southeast Asia. 

Cross-border procurement using Korea’s leading eCommerce platform 

As South Korea’s leading eCommerce platform, Gmarket offers an international version and a Korean version. Global users can choose between a Chinese and an English interface on the international version. While the domain name, interfaces, promotions, and credit card offers differ between the two versions, the sellers, products, and prices remain largely the same. International buyers can shop confidently on the international site. 

Market position and competitive edge of Gmarket

Gmarket is considered the leader among Korea’s eCommerce platforms, with its user base and per-capita consumption far surpassing local competitors. Since its inception, Gmarket has been in the global spotlight for 25 years. In 2006, Gmarket became the first online company in Korea to be listed on NASDAQ. Fast forward to December 2024, its parent company, Shinsegae Group, announced a joint venture with Alibaba International, integrating Gmarket and AliExpress Korea into its subsidiaries, solidifying its position in the Korean eCommerce market.  

The stability and reliability of Gmarket have attracted numerous Korean merchants to set up online stores on the platform, contributing to its rapid growth and dominant market position in cosmetics, apparel, household items, and electronic gadgets. Particularly during the pandemic, when the demand for KF94 masks surged, Gmarket experienced a significant increase in users.  Shoppers from mainland China, Hong Kong, and Southeast Asia have gradually become accustomed to shopping on Gmarket, ensuring its steady growth even post-pandemic. 

Why does Gmarket appeal to Hong Kong trading companies and wholesalers? 

Although Gmarket does not have a dedicated platform for wholesalers like Alibaba, some merchants on the platform offer small wholesale or bulk purchasing options and discounts. Contact the sellers directly to get more information and better deals. 

1. Common language: Most Gmarket guides highlight that the international version of Gmarket supports both Chinese and English interfaces. This makes it easy for Hong Kong trading companies and wholesalers to navigate the platform, understand product details, and communicate directly with Korean suppliers, streamlining the procurement process.

2. Product quality: The majority of products on Gmarket are from local Korean brands or manufacturers. Known for their competitive design, quality, and pricing, these products are highly sought-after in the international market.

3. The Korean Wave: With the rise of K-pop culture sweeping the globe, the demand for products related to K-pop, such as beauty products, fashion accessories, and idol merchandise, has also surged. Hong Kong trading companies and wholesalers can capitalise on this growing trend and expand their businesses by sourcing products from Gmarket.

4. Mega promotions: Gmarket offers more competitive pricing compared to other platforms, often providing platform-wide discounts and coupons. Plus, Gmarket regularly holds large-scale promotions, such as the MEGA G Festival, offering a golden opportunity for Hong Kong wholesalers to procure products in bulk at discounted prices.

How to open a Gmarket account as a Hong Kong trading company?

In this section, we will walk you through the process and requirements of opening a Gmarket account. The process of registering an account on Gmarket is straightforward and easy to follow:

• Step 1: Go to Gmarket Global. In the top left-hand corner, select your preferred language, then click “Register” located in the middle of the header

• Step 2: Enter your account name and email address. You can choose to register with either your personal email or company email

• Step 3: Check your mailbox for the verification email and click on “Confirm”

• Step 4: Return to the Gmarket homepage. In the top right-hand corner, set your shipping country and preferred currency

• Step 5: Start shopping

Note: Some products are only available for delivery within Korea. To ensure that the products you select can be shipped to your location, either select “International Shipping” above the product list, or look for an aeroplane icon next to the product name.

If you wish to open a corporate account, you will need to register as a “Business Sales Member” on the EMS Plus platform. You will be required to submit verification documents, including your Business Registration Certificate. 

If you prefer to register for a Korean Gmarket account, a Korean mobile number will be needed for verification. 

Sourcing process on Gmarket

After successfully registering your account, you’re ready to start sourcing products and begin your Gmarket wholesale business! 

1. Choose suitable suppliers 

When selecting suppliers on Gmarket, the first step is to focus on sellers with high ratings.

Gmarket uses a rating system to evaluate merchants based on their sales performance and customer service. Each successful transaction earns the seller one point.

On Gmarket, you’ll notice a gold or silver crown icon next to the seller’s name. These icons represent the two types of trustworthy merchants on Gmarket: Power Seller (gold crown, with more than 400 points) and Excellent Seller (silver crown, with more than 200 points) 

Next to the crown icon, you’ll also see a battery-like icon that represents customer reviews. Each yellow line indicates 20% satisfaction, and a filled battery signifies 100% customer satisfaction. While these reviews are primarily focused on the product itself rather than the seller, they are still a useful indicator of the seller’s reliability.

Through Gmarket, you can directly contact multiple sellers to inquire about wholesale discounts, product features, delivery methods, and other relevant details. To ensure a smooth and efficient procurement process, it’s important to gather all necessary information, compare product quality and prices before placing bulk orders. 

2. Select products and place bulk orders

Once you’ve confirmed the products and suppliers, add the items to your shopping cart and confirm the purchase quantity by pressing the “+” sign next to the number. 

After confirming the quantity, price, and discount offers, you can continue with the checkout process.

3. Check out and arrange international delivery 

When checking out, you’ll first need to enter your shipping address in English to ensure that the products are delivered to the correct destination. If you purchase from multiple suppliers, be sure to arrange consolidated shipping to minimise delivery costs. 

At checkout, you can choose to pay using PayPal, Alipay, or international credit cards (including Visa, Mastercard, UnionPay, and American Express). Remember to select a credit card that offers promotions or rebates to help offset the 1–4% cross-border transaction fee (CBF).

Consider using the Airwallex Borderless Card to earn unlimited 1% cashback, or pay by bank transfer using our Business Account. Our Business Account supports multiple currencies and offers market-beating conversion rates, with a fee as low as 0.2% above the interbank rate. 

Gmarket offers a variety of shipping options and partners with EMS, SF Express, and DHL to facilitate global deliveries. When you place an order, the seller will first send the items to Gmarket’s Incheon Logistics Centre. From there, logistics partners will handle ‌international shipping. Delivery usually takes three to seven working days.

Note that some products cannot be shipped internationally through Gmarket. Even if they arrive at the logistics centre, they may still be returned. These include:

1. Products exceeding two metres in total length, width, and height; or any side longer than one metre

2. Products weighing over 30kg

3. Flammable items (e.g..batteries, sprays)

4. Perishable or fragile products (e.g. food, spray-on cosmetics)

Fees associated with procurement on Gmarket

The main costs involved in wholesale purchases on Gmarket include product costs, delivery fees, and payment fees. Using the Gmarket eCommerce platform is free of charge, and there are no additional fees required for bulk purchases.

Important notes for sourcing on Gmarket

Shoppers on Gmarket can choose from various payment methods at checkout, including: 

1. PayPal (only available on the international version)

2. Alipay (only available on the international version)

3. Credit card (for overseas delivery only, including Visa, Mastercard, UnionPay, JCB, American Express)

4. Credit cards and bank cards issued in Korea

5. Smile Cash (Users can earn Smile Cash by leaving reviews with photos and videos; alternatively, they can also top up via local and overseas bank transfers) 

It’s important to consider the payment collection process of your suppliers when choosing a payment method, especially if you’re aiming for a smooth purchasing experience or seeking to establish a long-term relationship with Korean suppliers. 

If you choose to pay in other currencies, Korean suppliers may incur additional charges, or it may be difficult for them to collect funds into their company accounts. This can lead to delays in the transaction and negatively impact the experience for both parties. 

Optimise your Gmarket wholesale procurement with Airwallex

As a leading one-stop financial and cross-border payment platform, Airwallex empowers Hong Kong trading companies and wholesalers to streamline the Gmarket procurement process by improving transaction efficiency and reducing unnecessary costs.

1. Optimise procurement costs using Airwallex Corporate Cards

Consider using the Airwallex Corporate Cards that support ‌multiple currencies to pay for your procurement costs. Issuing an Airwallex Corporate Card is quick and easy – be it virtual or physical. Whether it’s for making cross-border purchases or visiting Korea for product quality checks, you can create a company Visa card in minutes through Airwallex’s online platform to cover your business expenses.

2. Save on conversion fees with our Business Account 

Hong Kong trading companies can easily make international payments, with conversion fees as low as 0.2% above the interbank exchange rate. This eliminates the need to bear the 1–4% cross-border transaction fee (CBF) typically charged for credit card payments, significantly reducing transaction costs. 

Airwallex’s Business Account allows you to transfer funds to over 150 countries in 60+ currencies. Most transactions can be credited to the recipient’s account on the same day, ensuring smooth and timely payments, helping you maintain strong relationships with your suppliers.

Open an account for free today and experience Airwallex’s seamless financial solutions. Simplify your procurement process, save on unnecessary costs, and accelerate your business growth.