SK Planet steps up efforts to support SMEs

By Kim Young-won
  • Published : Jan 25, 2016 - 11:37
  • Updated : Jan 25, 2016 - 11:37

IT solutions developer SK Planet said Monday it has supported around 250 small and medium enterprises to tap into global markets through its e-commerce platform 11st in the second half of last year.
The logo of SK Planet, the operator of e-commerce platform 11st. (SK Planet)
The SK Group affiliate has been running its e-commerce platform 11st with different names in global markets -- n11 in Turkey, Elevenia in Indonesia, and 11Street in Malaysia.

The company ran a Korean zone on the e-commerce website in each market to enable the Korean SMEs to sell their products on the platform.

Aiming to eliminate obstacles in infiltrating the global markets, SK Planet also offered delivery services for the small businesses, utilizing the firm’s local distribution centers.

SK Planet also helped the SMEs in translation, social media marketing and online advertising.

Garnering popularity in Indonesia thanks to SK Planet’s platform, RiRe, a Korean cosmetics brand, saw its sales jump five times during the six-month period.

“The support programs will serve as an exemplary model that promotes cooperation between big companies and SMEs in entering global markets,” an official from SK Planet said.

The SK Group affiliate joined hands with the state-run Small and Medium Business Administration and the Large and Small Business Cooperation Foundation, an organization to encourage collaboration between conglomerates and SMEs, in June last year for the initiative.

The company has been putting focus on commerce businesses -- 11st and mobile wallet Syrup -- in recent month, while pulling out of other businesses.

It sold a 15-percent stake, worth 368 billion won ($302 million), in music-streaming firm Loen Entertainment to Kakao earlier this month.

The IT solutions developer, which launched an e-commerce website in China last year, plans to make a foray into Thailand.

By Kim Young-won (