Yahoo Buys Stake in South Korean E-Commerce Firm

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Yahoo plans to use its 10 percent stake in South Korean e-commerce firm Gmarket to expand its presence in Asia.

Yahoo, Sunnyvale, CA, said it would acquire a 10 percent stake in Gmarket, an e-commerce marketplace provider in Seoul from Oak Investment Partners, a significant investor in Gmarket.

Financial terms of the deal were not disclosed.

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