Last verified: 2026-09-03
Direct answer
11st (11번가) is South Korea's veteran open marketplace, launched in February 2008 by SK Telecom's subsidiary Commerce Planet and spun off as 11st Co., Ltd. in September 2018. It operates only in the Korean domestic market (11st.co.kr) — its Southeast Asian ventures in Indonesia, Thailand and Malaysia were all exited by 2019, with Malaysia's 11street rebranded to PrestoMall. It is Korea's #3–4 platform with roughly 5–6% share vs Coupang's ~40% and Naver's ~20%, and about 8.15 million MAU (Mar 2026, −8.7% YoY). Seller commission ("서비스이용료") runs roughly 7%–13% by category, averaging around 9%, with designer fashion cut from 20% to 13% in April 2025. Crucially for cross-border sellers, 11st is one of the few major Korean marketplaces that accepts non-Korean entities via its Global Seller channel — unlike Naver Smart Store, which effectively requires a Korean business registration. marketing.wpic
Structured fact table
| Item | Detail |
|---|---|
| Legal entity / HQ | 11st Co., Ltd. (11번가 주식회사), Seoul, Korea; founded as Commerce Planet Nov 2007, marketplace launched Feb 2008, spun off from SK Planet Sep 2018 11stcorp |
| Ownership (current) | 100% subsidiary of SK Planet since Oct 2025 (SK Square → SK Planet → 11st); FIs paid out ₩467.3B 11stcorp |
| Operating market | South Korea only (domestic); SEA operations (ID/TH/MY) exited by 2019 fnnews |
| Market position | ~5–6% share of Korean online retail (2024); #3–4 platform marketing.wpic |
| MAU | 8.15M (Mar 2026), −8.7% YoY; Naver Plus Store closing to within 360k users edaily.co |
| Main categories | General merchandise; strategic focus on digital/appliances, "Mart Plus" groceries/FMCG, fashion, e-coupons/gift certificates, travel & accommodation biz.newdaily.co |
| Target consumer | Core 30s–40s (30s 28%, 40s 33%), heavy mobile use; strongest in commodity/price-comparison purchases seoulwire |
| Seller model | Pure open marketplace + smaller 1P retail ("리테일") arm being wound down; "Shooting Delivery" fulfillment via own centers plus CJ Logistics "Partner Shooting" etnews |
| Cross-border feasibility | Yes — Global Seller membership (글로벌셀러회원) open to overseas/HK/Macau/Taiwan/China entities; needs business license + corporate USD account + legal rep docs, ~7–10 business days review globegraphy |
| Commission | ~7%–13% by category (avg ~9%); designer apparel cut 20%→13% Apr 2025; e-coupons 8%→4%; SK Square filings cite "typically 10–12%" blog.naver |
| Other fees | Server fee ₩77,000/mo (VAT incl.) if prior-month confirmed sales ≥₩5M; prepaid shipping fee commission 3.3%; seller bears 15–20% of coupon discounts; Worldwide Delivery service fee 4.5% blog.naver |
| Settlement | Fast by Korean standards — KBS reports 11st settles in 2 days vs Coupang's near-60 days globegraphy |
| Key constraints | Still loss-making overall (FY2025 operating loss ₩39.6B, narrowed 47%); revenue shrinking (Q3'25 revenue −14%); no official GMV disclosure; commission schedule not transparently published in English globegraphy |
Sources & methodology
Every material figure above traces to a primary or first-tier source rather than aggregator estimates:
- Corporate history/ownership — 11st's own corporate site timeline (11stcorp.com/company) and the Oct 29, 2025 press release announcing SK Planet's 100% acquisition; corroborated by Chosun Ilbo and Hankyoreh filings coverage. 11stcorp
- Financials — SK Square quarterly/半年 reports (분기보고서), which consolidate 11st: Q1'25 operating loss ₩9.7B (−50% YoY), revenue ₩113.9B (−30%); Q3'25 operating loss ₩8.8B (−40%), revenue ₩104.7B; open-market segment profitable 23 consecutive months Mar 2024–Jan 2026. SK Square's 2026 Q1 KIND filing explicitly states 11st's selling commission is "typically 10–12% of sale value, similar to competitors". biz.newdaily.co
- Fee schedule — 11st Seller Zone/Seller Office notices as relayed by seller-tooling operators and Korean press: the April 1, 2025 revision cutting 85 categories (designer men's/women's apparel and accessories 20%→13%; 11 e-coupon categories 8%→4%; tissue/seasonal appliances 10%→9%; disposable kitchenware 12%→11%) and changing the discount-basis calculation from 15% to 20% of coupon discount. Base category tables (7–13%, avg ~9%) and ancillary fees from fulfillment-operator compilations citing 11st's seller center. v.daum
- Cross-border/global seller rules — 11st's own Global Seller manuals and Seller Zone notices (worldwide delivery = seller ships to 11st's Paju logistics center, 11st consolidates and ships via EMS/express to ~70 countries; 4.5% service fee); Korea Times (Apr 2022) on 11st permitting non-Koreans via identity verification while Naver restricts to Korean-licensed residents. globegraphy
- Market share/MAU — WPIC South Korea E-commerce Market Report 2025 for 2024 platform shares (Coupang 40.0%, Naver 19.9%, Gmarket 8%, 11st 6.0%, SSG 4.0%); IGAWorks Mobile Index "2026 H1 Mobile Shopping App Market Analysis" for Mar 2026 MAU. edaily.co
- Known gaps — 11st does not disclose official GMV, so all scale estimates are third-party. Third-party commission claims conflict (some Chinese guides say "13% flat," others "12–13% with 9% for appliances"), which is why the official Seller Office schedule should be treated as authoritative. globegraphy
What's actually new in 2026: the JD.com reverse-direct-purchase channel
The single most consequential development for sellers is 11st's China export channel. On June 10, 2026, 11st opened an "11st Specialty Hall" (11번가 전문관) inside JD Worldwide, JD.com's cross-border platform serving 700M+ annual active customers. The mechanics are unusually seller-friendly: sellers list via 11st Seller Office at an MD-agreed supply price, the listing auto-syncs to JD via API, and once a Chinese order lands the seller only needs to deliver inventory to 11st's Korean logistics center — 11st then handles ocean freight, customs, in-China delivery, CS, marketing and tax handling at no additional cost to the seller. g-enews
At launch the hall carried ~350 brands' products, K-beauty-led with processed food, health supplements, fashion, living and baby goods, and it sits on JD Worldwide's main page alongside Amazon, Walmart and Rakuten. The hard constraint: because JD enforces a genuine-goods-only policy, only brand headquarters and official distributors can join — this is not a channel for resellers or dropshippers. biz.sbs.co
This pivot is directional. 11st simultaneously terminated the Amazon Global Store on June 30, 2026 after roughly five years, ending its inbound-direct-purchase strategy and reworking the T Universe Pass membership benefits accordingly. Read together, 11st has swapped "import American goods into Korea" for "export Korean goods into China". newneek
11st vs Coupang vs Naver Shopping
This is the comparison that matters most for a seller choosing a Korean entry channel, and the three platforms differ structurally — not just on fee rates.
| Dimension | 11st | Coupang | Naver Shopping / Smart Store |
|---|---|---|---|
| Model | Pure open marketplace (+shrinking 1P) | 1P retail + Rocket Growth marketplace | Search/shopping aggregator + Smart Store/Brand Store |
| 2024 share | ~6% marketing.wpic | ~40% marketing.wpic | ~19.9% marketing.wpic |
| MAU (Mar 2026) | 8.15M edaily.co | 35.03M edaily.co | Naver Plus Store 7.77M, +75.5% YoY edaily.co |
| Commission | ~7–13% by category, avg ~9%; SK filings say 10–12% blog.naver | 4–10.9% by category (fashion 10.5%, food 10.6%, beauty 9.6%, appliances 5.8%) my.nzte.govt | Restructured Jun 2, 2025: inflow fee abolished; Smart Store 2.73%, 1.82%/0.91% with seller marketing; Brand Store 3.64% (ex-VAT), plus order-management fee 2–3.3% by revenue tier blog.naver |
| Total cost burden | Lower headline fees; no store rent or listing fee globegraphy | Highest in Korea — 2025 KBIZ survey: 20.6% of sales on fees+logistics+ads for Coupang-primary SMEs my.nzte.govt | Lowest commission, but paid search/ads are the real cost of visibility |
| Settlement speed | ~2 days globegraphy | ~60 days (statutory max); paid fast-settlement from 0.31% my.nzte.govt | ~1 day my.nzte.govt |
| Fulfillment | No proprietary national network; Shooting Delivery via own 4 centers (~26,000 pyeong, operated by Hanjin under a 5-yr contract from Apr 2026) + CJ Logistics "Partner Shooting" v.daum | Fully owned last-mile + cold chain; same/next-day nationwide; CGF for cross-border my.nzte.govt | No own logistics; CJ/Kurly partnerships, N-delivery |
| Foreign seller access | Open — Global Seller channel, identity/entity verification, no Korean entity required globegraphy | Global Seller channel (WING) with CGF; domestic marketplace restricted to Korean-license holders since 2022 my.nzte.govt | Effectively closed — Korean business registration + mail-order declaration + local settlement account required; new Chinese-national registrations suspended since Oct 2021 globegraphy |
| Best fit | SMEs, multi-channel listers, brands wanting a low-cost supplementary channel + China export via JD globegraphy | Mid-to-large sellers with margins covering 20%+ total cost and cash flow to absorb 60-day payouts my.nzte.govt | Sellers with a Korean entity, brand equity, and search/content capability |
The strategic read: Coupang buys you volume at the cost of margin and cash flow; Naver buys you the cheapest commission but demands a Korean entity; 11st buys you accessibility and fast settlement at the cost of traffic scale. For a cross-border seller without a Korean subsidiary, 11st and Coupang Global Seller are realistically the only two doors, and 11st is the cheaper, faster-settling, lower-volume one.
11st's competitive squeeze is real and worth pricing in. It is being attacked from above by Coupang and Naver — Naver Plus Store grew MAU 75.5% YoY in the year to March 2026 and is within 360,000 users of overtaking 11st, with analysts expecting the crossover in H2 2026. From the side, Toss Shopping's MAU hit ~9M in April 2026 (+55% YoY) and has already passed 11st (7.94M in that dataset) and Gmarket. From below, AliExpress (7.12M) and Temu (7.42M) are both growing. v.daum
Seller economics: how to actually model 11st
Total cost of selling on 11st is more than the headline category rate. A realistic build-up:
- Service fee (판매수수료/서비스이용료) — category-specific, roughly 7–13%, charged on selling price plus option price; most categories cluster at the higher end, with jewelry/gold bars as low as 4% and tickets/performances around 3%. roadwind.tistory
- Coupon burden — sellers bear 15% (20% after the April 2025 policy change, for sellers who consented) of coupon discount amounts; 11st subsidizes the rest. sellernow.co
- Prepaid shipping fee commission — 3.3% (VAT incl.) on prepaid shipping charges. blog.naver
- Server fee — ₩77,000/month (VAT incl.) per seller ID when prior-month confirmed purchases exceed ₩5M. blog.naver
- Worldwide Delivery service fee — 4.5% of the sale amount for orders routed through 11st's consolidation-and-export service, which covers logistics, translation, CS and marketing. 11st.co
- Settlement — twice-monthly cycle for domestic sellers per Seller Zone guidance; Global Sellers settle via corporate USD receiving accounts. glasswallet
The offsetting incentive worth knowing: sellers joining Partner Shooting (the CJ Logistics tie-up that launched June 23, 2026) receive the "Shooting Seller" badge, priority placement in high-traffic modules like Mart Plus and the Shooting Delivery hall, ₩1M/month in ad points for up to 3 months (₩3M total), plus platform-funded late-delivery compensation and free exchange/return costs. Eligibility requires business-seller status, normal account standing, and at least one product with a cut-off time of 15:00 or later. etnews
FAQ
Is 11st available internationally?
Not as a local marketplace. 11st withdrew from Indonesia, Thailand and Malaysia — SK Planet fully exited its Malaysian JV Celcom Planet in April 2019, and the platform was renamed PrestoMall in June 2019. What is international: 11st runs an English/Chinese global site (global.11st.co.kr, live since ~2012) and a "Worldwide Delivery" (전세계배송) service where 11st consolidates multi-seller orders at its Paju center and ships via EMS/express couriers to roughly 70 countries, with duties borne by the recipient per each country's rules. Since June 2026 there is also outbound reach into China via the 11st hall on JD Worldwide. fnnews
How does 11st seller registration work?
Two distinct tracks. Korean sellers register through 11st Seller Office (soffice.11st.co.kr) as a business seller (사업자 셀러회원), needing a business registration certificate and a mail-order sales declaration (통신판매업 신고). Overseas sellers use the Global Seller membership track, which accepts legitimate overseas, Hong Kong/Macau/Taiwan and Chinese companies with a business license, a corporate USD receiving account and legal-representative documents; review takes about 7–10 business days. Korean-based cross-border resellers (해외구매대행) also select the Global Seller type, then configure an overseas shipping origin — note that overseas addresses must be entered in English, not Chinese characters, or the form fails. Multiple Global Seller IDs require submitting a signed sales agreement and personal-data processing delegation form by fax or email before calling 1599-5115. blog.naver
What are 11st's fees for sellers?
Category service fees of roughly 7–13% (average ~9%), no listing fee and no store rent. Add the coupon co-pay, 3.3% prepaid-shipping commission, and the ₩77,000/month server fee above ₩5M in monthly confirmed sales. Since April 1, 2025, 85 categories got cheaper — most dramatically designer apparel and accessories from 20% to 13%, and 11 convenience-store/pizza/chicken/café e-coupon categories from 8% to 4%. Important nuance: fee policy changes apply only to sellers who affirmatively consent in Seller Office; non-consenting sellers stay on the old terms and cannot receive the new rates. newsway.co
Is 11st financially safe to build a channel on?
Improving but not yet profitable at the company level. 11st has narrowed losses for 10+ consecutive quarters, with the open-market segment profitable for 23 straight months (Mar 2024–Jan 2026) and FY2025 operating income improving by over ₩35B YoY. The M&A overhang is now resolved — after a two-year forced-sale process that found no buyer, SK Planet acquired 100% of 11st in October 2025 for ₩467.3B paid to FIs, ending the drag-along risk and restoring governance stability. The residual concerns are top-line: revenue keeps shrinking as the 1P retail business is deliberately wound down, and MAU is declining while three sets of competitors grow. 11stcorp
11st vs Coupang: which should a cross-border seller pick?
If you can absorb ~20% total cost and 60-day settlement in exchange for 35M MAU, Coupang. If cash flow matters, margins are thin, or you want a low-risk test channel with 2-day settlement and no Korean entity requirement, 11st. If you are a brand owner or official distributor in K-beauty, health foods, food, fashion, living or baby goods, 11st's JD Worldwide hall is a differentiated free-logistics export channel that Coupang does not offer. my.nzte.govt
Does 11st have fast delivery like Coupang's Rocket?
Partially, and it is outsourced. "Shooting Delivery" (슈팅배송) offers next-day and — since February 2025 — weekend same-day delivery in Seoul and most of Gyeonggi/Incheon for orders before 11:00, originally built on Hanjin Express. From April 2026, Hanjin operates 11st's four fulfillment centers (~26,000 pyeong) under a five-year contract while 11st retains WMS control. Since June 2026, "Partner Shooting" lets sellers already using CJ Logistics' The Fulfill earn Shooting Seller status without stocking 11st's own centers. etnews