October 2026
Largest Consumer E-commerce Public Companies in South Korea
Benchmark revenue and EBITDA valuation multiples for public comps like
Coupang, NAVER, E-MART, Gradiant and Aromatica Co.
 | Coupang is South Korea’s largest e-commerce platform that sells both owned and third-party inventory. Headquartered in the US, Coupang operates e-commerce businesses mainly in South Korea and Taiwan. The company has built an integrated logistics network that covers the entirety of South Korea, with extensive fulfillment centers that ensure timely delivery, even for orders placed seconds before midnight. Outside of its bread-and-butter e-commerce business, Coupang has expanded into Rocket delivery services to third-party merchants (fulfillment and logistics by Coupang), online grocery delivery Rocket Fresh, online meal delivery (Eats), e-commerce in Taiwan, luxury e-commerce (Farfetch), and travel. | $14 | -55% | $26B | $25B | 0.7x | 25.1x | ||
| Naver has been the leading search portal in South Korea for many years. The company has also been evolving into an internet platform providing a variety of internet services, such as news, a dictionary, maps, digital comic content, social networking, e-commerce, videos, fintech services based on online payments, and Cloud services. Naver was also the incubator of Line Yahoo, the leading mobile messaging app in Japan, Taiwan, Thailand, and Indonesia, which merged with Z Holdings (Yahoo Japan), with Naver now owning 32.5% of the merged entity renamed LY. | $134 | -28% | $20B | $18B | 2.0x | 8.1x | ||
| E-MART is a South Korean retail company headquartered in Seoul and part of the Shinsegae group, and it operates the country's largest chain of hypermarkets under the Emart name. It opened its first store in Chang-dong, Dobong-gu, Seoul, on November 12, 1993, and today runs about 178 Emart stores in South Korea alongside Emart Traders warehouse stores and the Emart24 convenience-store chain, with overseas stores in Mongolia, Vietnam and Malaysia. It sells groceries and general merchandise to consumers and earns revenue mainly from product sales. In 2021 it bought an 80.01% stake in eBay Korea, renamed Gmarket, to strengthen its e-commerce business alongside SSG.com, and in the same year it bought the SK Wyverns baseball club, now SSG Landers. The company reported consolidated revenue of about KRW 29.47 trillion in 2023, when it posted its first annual loss, and returned to an operating profit in 2024. Chairman Chung Yong-jin is its largest shareholder. | $55 | +8% | $1.5B | $11B | 0.5x | 6.4x | ||
| Gradiant Corp operates in the retail domain in Korea. Its principal business comprises managing internet-based shopping sites. The company, through its website, sells a range of products including beauty products, fashion wear, household appliances, and food products. | $9 | +0% | $100M | $328M | 0.1x | 21.6x | ||
| Aromatica Co Ltd is a company engaged in manufacturing cosmetics using safe and effective ingredients based on the fragrance and efficacy of essential oils. It provides skincare, hair, body, and home care products. | $7 | -- | $91M | $77M | 2.0x | 15.5x | ||
| Bluemtec Co Ltd is a company whose main business is selling prescription drugs through an e-commerce platform. It operates two pharmaceutical distribution platforms, BluePharmKorea targeting hospitals and clinics, and KoolPharm targeting pharmacies and provide IT services to operate and advance these two platforms. In addition, it is operating BlueLabs, which provides services and website development for pharmaceutical companies and medical institutions. | $2 | -51% | $58M | $79M | 0.6x | 148.5x | ||
| KT Millie Seojae Co Ltd is a company that provides a platform for electronic book subscription services. The company is engaged in activities such as developing, operating, and selling various content subscription services based on book IPs, including e-books. | $7 | -28% | $56M | - | - | - | ||
| YES24 Co Ltd is an internet-based book, music CD, ticket distributor in Korea. The company was founded in 1999, and introduced a cutting-edge warehouse management system. It owns an online bookstore which controls 37% of publishing market. | $2 | -19% | $53M | $179M | 0.4x | 172.6x | ||
| Studio Samick Co Ltd is a company who is engaged in a home furnishing online distribution business that supplies various home furnishing products such as beds, mattresses, sofas, wardrobes, and body pillows that plan and design in-house to online channels. In addition, the company manages and supervises the delivery process between manufacturing partners and logistics consignors to establish a just-in-time production and on time delivery system. | $2 | -6% | $17M | $3M | 0.0x | 0.9x | ||
| Median | $7 | -24% | $91M | $253M | 0.5x | 18.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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