Amazon to enter South Korea

Online retail giant Amazon (NASDAQ:AMZN) could be opening offices in South Korea as early as March, according to Donga Daily News reports. Amazon would be a direct competitor with Gmarket, an already established local online auction and shopping site.

Amazon is looking for employees with experience in Korea's online retail business, reported CNET. There are an estimated 300 jobs to be filled, mostly IT. The retailer's website lists several positions vacant in Seoul.

An office has been rented out in the city's Gangnam area. The 3,200-sq.-ft. space has a lease that runs through February 2024.

EBay already has a strong presence in Korea, owning 63 percent of the market share. The company bought Gmarket and Auction back in 2001. Other U.S. retailers expanding their physical presence into South Korea include Burberry, which recently opened its first Beauty Box in Seoul at the end of 2014.

Those close to the source speculate that the Kindle may be the first product launched in Korea.

Earlier this week the company took another step toward boosting its international presence. Amazon hired former White House press secretary Jay Carney to join the team as the retailer's senior VP of worldwide corporate affairs.

For more:
-See this CNET article

Related stories:
Amazon hires former White House Press Secretary Jay Carney
FAA stalls Amazon's drone deliveries
Burberry brings digital beauty experience to Korea
Amazon stores could pressure back-end operations
Amazon to open holiday pop-up stores