Document:

<PAGE>

                                                                   Exhibit 10.16

English Translation

CONFIDENTIAL TREATMENT REQUESTED BY GMARKET INC. CONFIDENTIAL PORTIONS OF THIS
DOCUMENT HAVE BEEN REDACTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION.

                  CO-PROMOTION AND MARKETING SERVICE AGREEMENT

                                 By and Between

                                  Gmarket Inc.

                                       And

                             Korean Click Co., Ltd.

                               Dated July 13, 2004

<PAGE>

                                    AGREEMENT

CHAPTER 1 GENERAL PROVISIONS

ARTICLE 1 (PURPOSE)

The purpose of this Agreement is to set forth the terms of use and procedures
for www.gmarket.co.kr, the internet site operated by Gmarket Inc. ("Gmarket"),
to use the co-promotion and marketing service (the "Service") provided on the
co-promotion and marketing network site of Korean Click Co., Ltd. ("Korean
Click") (www.linkprice.com).

ARTICLE 2 (DEFINITIONS)

The terms used herein shall be defined as follows:

     (1)  "Service" means services implementing internet advertising and
          distribution of the of goods of Gmarket through the co-promotion and
          marketing network site of Korean Click (www.linkprice.com).

     (2)  "Subscriber" means a person who has registered for the Service of
          Korean Click to post on his or her website, or publicize to his or her
          members, advertisements received by Korean Click and share the profits
          therefrom with Korean Click. Any individual, group or corporation may
          become the Subscriber, and the Subscriber shall receive an agreed
          consideration for its performance from Korean Click.

     (3)  "Visitor" means a general internet user who conducts commercial
          transactions or otherwise uses the internet services on the site of an
          advertising sponsor enlisted by Korean Click via various advertising
          promotion routes on the Subscriber's website.

     (4)  "Commission" means the amount to be paid by Gmarket under Article 3
          hereof.

CHAPTER 2 TERMS AND CONDITIONS OF AGREEMENT

ARTICLE 3 (COMMISSION AND PROMOTION)

     (1)  The payment terms of the Commission shall be determined by
          consultation between Gmarket and Korean Click, and during the term of
          the Service, the

                                       1

<PAGE>

          payment terms of the Commission may be amended by consultation between
          Gmarket and Korean Click.

     (2)  The Commission to be paid by Korean Click to the Subscriber shall be
          paid in accordance with the terms of advertisement set forth on the
          website of Korean Click, and at Korean Click's discretion, based on
          the size, classification (corporation/sole proprietorship/individual)
          and performance of the Subscriber.

     (3)  During the Service, if Gmarket proceeds with a separate promotion
          targeted at the Subscribers, Korean Click shall be responsible for
          planning and operation of the promotion, and Gmarket shall pay [****]
          of the promotion expenses to Korean Click.

     (4)  The Commission and all expenses to be paid by Gmarket to Korean Click
          shall be calculated and charged on a VAT exclusive basis.

ARTICLE 4 (INITIAL SET UP OF SYSTEM AND ANNUAL MEMBERSHIP FEE)

     (1)  Gmarket shall agree to install a program provided by Korean Click into
          its own system in order to use the Service, or agree to modify the
          existing program with the confirmation of Gmarket, and upon
          termination of this Agreement, it shall delete or modify the program
          provided.

     (2)  The program in Paragraph (1) above may not be arbitrarily modified or
          deleted without consent of Korean Click. In addition, Korean Click
          may, if necessary, order a test for maintenance of the program in
          Paragraph (1) above, and request from Gmarket for confirmation
          purposes, information on the routine concerning the program in
          Paragraph (1) above or any existing program, in which case, Gmarket
          shall fully cooperate with Korean Click.

     (3)  Gmarket shall provide Korean Click with the relevant source codes
          modified at the time of initial setting of the system to maintain,
          repair and manage the system setting. Korean Click shall keep such
          source codes confidential and destroy such data upon termination of
          this Agreement.

[****] = MATERIAL OMITTED: CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND FILED
     SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

                                       2

<PAGE>

     (4)  For mutually fair measurement and comparison of performance through
          the system setting, Gmarket shall record and keep in a separate log
          file in the system of Gmarket information on performance arising from
          a Subscriber immediately before the information on performance is
          transmitted online to the system of Korean Click, and upon the request
          of Korean Click, it shall provide such information to Korean Click.

     (5)  For installation of the program provided by Korean Click and
          utilization of the Service, Gmarket shall pay on the 5th day of each
          month [****] Korean Won ([****] Korean Won in the case of annual
          payment) to Korean Click.

     (6)  The link registered on the site of Korean Click may not be arbitrarily
          modified or deleted during the term of operation of the program, and
          in the case of termination of the program, it shall be notified to the
          Subscriber fifteen (15) days prior to the termination (provided,
          however, that, the link may be modified or deleted at any time with
          the consent of all Subscribers who linked the site).

CHAPTER 3 FORMATION AND TERM OF AGREEMENT

ARTICLE 5 (FORMATION OF AGREEMENT)

This Agreement shall be deemed to have been formed at the time when the Service
commences after signing and exchange of counterparts.

ARTICLE 6 (TERM OF AGREEMENT)

The term of this Agreement shall be one (1) year from the execution of this
Agreement, and this Agreement shall be deemed to be renewed on the same terms
and conditions, unless either party notifies otherwise within one (1) month
prior to the expiration of the term hereof.

----------
[****] = MATERIAL OMITTED: CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND FILED
     SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

                                       3

<PAGE>

CHAPTER 4 OBLIGATIONS OF THE PARTIES

ARTICLE 7 (OBLIGATIONS OF GMARKET)

     (1)  In using the Service, if Gmarket falls under any of the following
          cases, Gmarket shall be deprived of its status as a party hereto, and
          Korean Click may terminate this Agreement after giving notice to
          Gmarket, and claim damages for the breach of this Agreement against
          Gmarket:

          1)   If Gmarket uses the ID of another contractor in an illegal
               manner;

          2)   If Gmarket discloses or distributes any information obtained from
               the Service to a third party without prior permission of Korean
               Click;

          3)   If Gmarket infringes on the intellectual property rights
               including copyrights or other rights of Korean Click and a third
               party;

          4)   If Gmarket distributes to a third party any information,
               sentence, diagram, or others that violate public order and good
               morals of society;

          5)   If it is objectively determined that Gmarket is involved in a
               crime;

          6)   If Gmarket fails to pay the Commission for two months or more;

          7)   If, during the term hereof, Gmarket directly provides
               co-promotion and marketing services to the Subscriber of Korean
               Click;

          8)   If an order of attachment or a notice of attachment due to
               default in payment is sent to Gmarket, or other compulsory
               execution or disposition on default in payment commences;

          9)   If a petition for commencement of bankruptcy, composition or
               corporate reorganization proceeding is filed, or an application
               for entry in the list of defaulting persons is submitted;

          10)  If Gmarket receives a tax notice concerning any taxes and public
               charges prior to the due dates thereof, or a clearing house has
               rendered a disposition of suspension of transactions;

          11)  If payment is deemed suspended due to business closure, flight,
               or other reasons;

          12)  If Gmarket has otherwise breached the terms of use of the
               operator including this Agreement;

          13)  In the event of any violation of relevant laws; or

          14)  In the event of any evident wrongful act.

     (2)  Gmarket shall comply with the matters provided herein, the guidelines
          for using

                                       4

<PAGE>

          the Service or other cautionary provisions.

     (3)  After the Service commences, Gmarket shall notify whether to approve
          or reject the application for admission of the Subscriber within three
          (3) business days from the application date.

     (4)  Gmarket may not transfer, lease or otherwise dispose of its rights to
          use the Service, or other status hereunder to a third party.

     (5)  If returns of goods or cancellation of the Service are significantly
          increased compared with customary practice in the industry, Korean
          Click may request Gmarket to provide supporting evidence thereof, and
          Gmarket shall comply with such request in good faith.

ARTICLE 8 (OBLIGATIONS OF KOREAN CLICK)

     (1)  Korean Click shall use its best efforts so that the Service can be
          implemented smoothly and stably.

     (2)  In providing Gmarket with the Service, if Korean Click falls under any
          of the following cases, Gmarket may terminate this Agreement after
          giving notice to Korean Click, and Korean Click shall be obligated to
          refund to Gmarket the remaining balance of the total contracted amount
          (expenses for initial setting of the system and annual membership
          fees) less the payable amount for the period during which Service has
          been provided:

          1)   If Korean Click discloses or distributes any information obtained
               from the Service to a third party without prior permission of
               Gmarket;

          2)   If an order of attachment or a notice of attachment due to
               default in payment is sent to Korean Click, or other compulsory
               execution or disposition on default in payment commences;

          3)   If a petition for commencement of bankruptcy, composition or
               corporate reorganization proceedings is filed, or an application
               for entry in the list of defaulting persons is submitted;

          4)   If Korean Click receives a tax notice concerning any taxes and
               public charges prior to the due dates thereof, or a clearing
               house has rendered a disposition of suspension of transactions;

          5)   If payment is deemed to be suspended due to business closure,
               flight, or other reasons;

          6)   If Korean Click has violated relevant laws in relation to
               operation of the Service; or

                                       5

<PAGE>

          7)   In the event of any wrongful act in relation to the terms and
               conditions of this Agreement.

     (3)  Korean Click shall use its best efforts to prevent any wrongful or
          illegal act of a third party including the Subscriber, and shall
          cooperate with Gmarket to settle any matter concerning such wrongful
          or illegal act of the Subscriber.

     (4)  Korean Click shall not divulge or distribute to a third party any
          personal information of Gmarket acquired through the provision of the
          Service without the permission of Gmarket, except as requested by
          governmental authorities under relevant laws.

     (5)  Korean Click shall be obligated to accurately trace the performance
          arising on the website of Gmarket and notify it to Gmarket in
          accordance with the principle of good faith, so that the Commission
          may be fairly settled.

     (6)  Korean Click may provide Gmarket with information and consulting
          services for increasing profits of Gmarket by s separate agreement, if
          Gmarket desires to do so.

     (7)  Korean Click shall comply with relevant laws, and in the event of
          violation, it shall be deprived of its status as a party hereto.

CHAPTER 5 USE OF SERVICE

ARTICLE 9 (MANAGEMENT OF ID AND PASSWORD)

     (1)  Any accountable person shall be responsible for management of the ID
          and password assigned to Gmarket.

     (2)  If Gmarket becomes aware that its ID has been used in an illegal
          manner, it shall immediately notify the fact to Korean Click.

ARTICLE 10 (PROVISION OF INFORMATION)

Korean Click may provide to Gmarket by e-mail or other means various information
that it finds necessary for Gmarket in using the Service, but if Gmarket does
not wish to receive such information, it may set on the refuse option in the
subscription admission menu and the information modification menu.

ARTICLE 11 (GMARKET'S POSTINGS)

If Korean Click finds that the contents of the Service posted or registered by
Gmarket on the website of Korean Click fall under any of the following cases,
Korean Click may

                                       6

<PAGE>

delete them after giving prior notice to Gmarket:

     (1)  If the contents are defamatory or insulting to other contractor or
          other person;

     (2)  If the contents are in violation of public order and good morals;

     (3)  If the contents are found to relate to a criminal act;

     (4)  If the contents infringe on copyrights or other rights of Korean Click
          or a third party;

     (5)  If the contents are being posted beyond the posting period as provided
          by Korean Click;

     (6)  If the contents contain obscene materials or a link to an obscene
          site; or

     (7)  If the contents otherwise violate relevant laws.

ARTICLE 12 (COPYRIGHTS TO POSTINGS)

The rights to materials posted in connection with the Service shall be as
follows:

     (1)  The person who has posted any material shall have rights to and
          responsibility for the postings and Korean Click may not use such
          postings for commercial purposes, other than posting them in
          connection with the Service, without the consent of the person who has
          posted them.

     (2)  Gmarket may not process or distribute the information obtained in
          connection with the Service, or use them for commercial purposes.

ARTICLE 13 (RESPONSIBILITY FOR USE OF SERVICE)

Gmarket may not sell illegal goods by using the Service. In particular, Gmarket
may not engage in hacking, commercial activities via obscene websites, illegal
distribution of commercial software, etc. Korean Click shall not be responsible
for any result, losses, damages, lawsuits, complaints, judicial dispositions by
relevant authorities or other legal actions arising out of a failure to comply
with the above provisions.

ARTICLE 14 (TIME FOR USE OF SERVICE AND SUSPENSION OF SERVICE)

     (1)  Unless there is any special business or technical difficulty on the
          part of Korean Click, in principle, the Service may be used 24 hours a
          day, year round, except for such date or time as designated by Korean
          Click in advance, to the extent necessary for regular inspection,
          technical inspection and change of Service, etc.

     (2)  Gmarket may suspend the Service in any of the following events:

          1)   If it is inevitable due to work such as repair of software and
               equipment for the Service;

                                       7

<PAGE>

          2)   If a telecommunications business operator as provided in the
               Telecommunications Business Act has suspended the provision of
               telecommunications services; or

          3)   In the event of other force majeure events.

ARTICLE 15 (HANDLING OF VISITOR)

With respect to the Visitor who accessed the site of Gmarket though the Service
of Korean Click, all activities relating to sales, including all procedures from
placement of an order, settlement of purchase prices, return of goods and after
sales services, to visitor relations services, shall be handled on the
responsibility of Gmarket, and Gmarket shall be solely responsible for all
matters arising out of the handling procedures.

ARTICLE 16 (INFORMATION ON PERFORMANCE)

The adding up of the performance arising from the Service of Korean Click on the
website of Gmarket shall be based on the performance as shown on the site of
Korean Click, www.linkprice.com.

ARTICLE 17 (PAYMENT OF COMMISSION AND DELAY DAMAGES)

     (1)  With respect to the performance report arising out of this Agreement
          with Korean Click (performance electronically processed through the
          site www.linkprice.com), Gmarket shall pay Korean Click the Commission
          under Article 3 hereof.

     (2)  The Commission shall be paid on a monthly basis, in principle, and
          shall be based on the total amount of charges in the report of Korean
          Click, as fixed by the 26th day of the month immediately following the
          month in which the Commission has arisen according to the report.

     (3)  Korean Click shall notify Gmarket by e-mail, etc., of the performance
          for a given month on the 1st day of the month immediately following
          the month in which the performance has occurred. Unless there is a
          separate agreement on the due date with Korean Click, Gmarket shall
          pay Korean Click the Commission fixed pursuant to Paragraph (2) above
          in cash by the 5th day of the month after the month immediately
          following the month (or the next day, if the day falls on a holiday)
          in which a cancellation or return was handled.

     (4)  If Gmarket fails to pay the Commission charged within the due date,
          Gmarket

                                       8

<PAGE>

          shall additionally pay Korean Click delay damages thereon at the rate
          of 20% per annum (the default interest rate) on a pro rata daily basis
          (the default interest rate may be amended by agreement between Gmarket
          and Korean Click thereafter).

ARTICLE 18 (LOGO)

Gmarket and Korean Click may indicate their affiliation on their respective
websites by using logos.

CHAPTER 6 OTHERS

ARTICLE 19 (DAMAGES)

Gmarket and Korean Click shall be liable to the other party for any material and
monetary damage incurred by the other party due to causes attributable to
itself.

ARTICLE 20 (ORDER OF APPLICATION OF PAYMENT)

If Gmarket fails to pay the Commission, delay damages and other expenses in
full, the amount paid shall be applied toward payment of delay damages, other
expenses and then, the Commission, in the order stated.

ARTICLE 21 (SET-OFF)

     (1)  If Gmarket is required to perform obligations to Korean Click due to
          maturity or obligations to make repayments prior to maturity, Gmarket
          may set off such obligations against all claims payable by Korean
          Click to Gmarket by a notice via e-mail, etc., regardless whether the
          claims have matured or not.

     (2)  In the case of set-off pursuant to Paragraph (1) above, delay damages
          on the Commission shall be calculated for the period until the date on
          which the set-off is to occur by Korean Click.

ARTICLE 22 (REPORT OF CHANGES)

     (1)  Gmarket shall accurately indicate on its site its name, trade name,
          representative, address, etc. necessary for the transaction in the
          form as determined by Korean Click.

     (2)  If there is any change in the matters set forth in Paragraph (1)
          above, Korean Click shall immediately report on the site the change in
          the form as determined

                                       9

<PAGE>

          by Korean Click. Gmarket shall have no objection to assuming no change
          until such change report is made, and Gmarket shall be responsible for
          any damage arising out of such assumption, without raise any claim
          against Korean Click.

ARTICLE 23 (EFFECT OF NOTICE)

     (1)  If a notice is sent by e-mail, etc. to the final address as reported
          by Gmarket (an e-mail address or an address at which mail can be
          received), notice shall be deemed to have been delivered following
          general mailing period.

     (2)  A recipient shall at all times confirm whether or not an e-mail has
          been delivered, and the sender's responsibility shall have been
          discharged upon sending the e-mail.

ARTICLE 24 (OTHERS)

Matters not provided herein shall be determined in accordance with the
provisions of the Framework Act on Telecommunications, the Telecommunications
Business Act and other relevant laws.

ARTICLE 25 (EXEMPTIONS)

     (1)  If Korean Click is unable to provide the Service due to natural
          disasters or other similar force majeure events, or temporary
          suspension of the Service arising out of technical problems, Korean
          Click shall be exempted from responsibility of provision of the
          Service.

     (2)  Korean Click shall not be responsible for any disorder in the Service
          due to causes attributable to Gmarket.

     (3)  Korean Click shall not be responsible for any loss of profits expected
          by Gmarket by using the Service, and shall not be responsible for any
          other damage incurred by Gmarket arising from any materials obtained
          through the Service.

     (4)  Gmarket shall be responsible for the reliability and accuracy of the
          information, materials and facts posted by Gmarket.

     (5)  Korean Click shall not be responsible for any wrongful or illegal act
          or activities of a third party including any Visitor.

ARTICLE 26 (JURISDICTION)

With respect to any dispute arising out of the use of the Service, Gmarket and
Korean Click shall use their best efforts to resolve the dispute by mutual
consultation, and any

                                       10

<PAGE>

lawsuit relating thereto shall be subject to the jurisdiction of the Seoul
Central District Court.

As both parties have no objection to the foregoing, the parties hereto have
hereunto written their names and affixed their seals as follows, and each party
shall keep one copy of this Agreement:

                                 April 13, 2004

          Gmarket
          6th Fl., Nam Seoul Bldg., 1304-3 Seocho-dong, Seocho-gu, Seoul
          Gmarket, Inc.
          Representative Director Young Bae Ku (seal)

          Korean Click
          3rd Fl., Anyang Bldg., 968 Daechi-dong, Gangnam-gu, Seoul
          Korean Click Co., Ltd.
          Representative Director Jin Young Park (seal)

                                       11<PAGE>

                                                                   Exhibit 10.17

English Translation

CONFIDENTIAL TREATMENT REQUESTED BY GMARKET INC.
CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION.

                              PARTNER SHOP CONTRACT

                                     BETWEEN

                           SK COMMUNICATIONS CO., LTD.

                                       AND

                                  GMARKET INC.

                                  January 2005

                                       1

<PAGE>

                              PARTNER SHOP CONTRACT

This Partner Shop contract is made on January 1, 2005 between SK Communications
Co., Ltd. ("SK Communications") and GMARKET Inc. ("Gmarket"). THE PARTIES AGREE
AND DECLARE AS FOLLOWS:

ARTICLE 1 (PURPOSE)

The purpose of this Contract is to provide for the rights and obligations
between SK Communications who operates an Internet shopping mall through its own
site and Gmarket who wishes to sell goods or services through the shopping mall
operated by SK Communications.

ARTICLE 2 (DEFINITIONS)

     (1)  "Partner Shop Service" means the service that allows cyber 'Nate Mall'
          ("Shopping Mall") owned by SK Communications is to link Gmarket's
          on-line shops to sell or promote goods and services.

     (2)  "Customers" means members or non-members using the Shopping Mall.

     (3)  "Shop Opening and Operating Cost" means an amount payable by Gmarket
          to SK Communications as consideration for Gmarket's sale of goods or
          services through the partner shop service.

     (4)  "Sales Commission" means an amount payable by Gmarket to SK
          Communications in a certain proportion to the profit that Gmarket
          earned by sale of goods or services through the partner shop service.

ARTICLE 3 (TERM OF THE CONTRACT)

     (1)  The term set out in this contract shall be from January 1, 2005 until
          June 30, 2005.

     (2)  This Contract shall be automatically extended for six months under the
          same terms and conditions unless either party expresses an intention
          to terminate the Contract by one month prior to the expiration of this
          Contract

                                       2

<PAGE>

ARTICLE 4 (SK COMMUNICATIONS'S OBLIGATIONS)

     (1)  SK Communications shall allow URL link of text and banners, etc. of
          the online shops operated by Gmarket to the Shopping Mall. Provided,
          the parties shall consult each other in advance on the shop opening
          cost and sales commission, linked URL, size, location and numbers of
          banners.

     (2)  In case SK Communications obtains information in the course of using
          Gmarket's online shops, SK Communications shall obtain Gmarket's
          consent thereto, and SK Communications shall not misrepresent any and
          all information provided by Gmarket.

     (3)  In case disputes arise between Gmarket and a third party due to
          reasons attributable to SK Communications, SK Communications shall
          indemnify Gmarket from the disputes and shall resolve the disputes at
          its cost and responsibility.

ARTICLE 5 (GMARKET'S OBLIGATIONS)

     (1)  Gmarket shall comply with the relevant laws and regulations and the
          standards of legal quality in respect of all goods and services to be
          sold through link to the Shopping Mall, and shall not engage in any
          illegal activities such as handling with articles of which transfer is
          prohibited or infringing any others' intellectual property right under
          this Contract.

     (2)  Gmarket shall not mislead a third party by identifying itself as being
          SK Communications or an employee of SK Communications in the course of
          operating its online shops without obtaining SK Communications's
          approval in advance.

     (3)  Gmarket shall not divert use of nor provide customers' personal
          information to a third party, obtained in the course of operating
          online shops. Also, Gmarket shall be liable to compensate SK
          Communications or a third party for damage incurred due to reasons
          attributable to Gmarket in connection with the use of services and
          operation of online shops. In the event that customer's information is
          found to have been infringed upon at Gmarket's trading place, Gmarket
          may be exempt from responsibility if Gmarket proves that it is not
          liable for such infringement.

     (4)  Gmarket shall post any and all information required in accordance with
          the "Consumer Protection Regulations" at the shopping mall operated by
          Gmarket

                                       3

<PAGE>

          and any change shall be done in order to update the relevant
          information.

     (5)  In case Gmarket sells products or services through entering SK
          Communications's product database, Gmarket shall provide DB in a
          standardized form as provided by SK Communications. Provided, however,
          SK Communications and Gmarket shall consult each other on technical
          works.

     (6)  Gmarket shall handle press release or any other public relations in
          connection with this Contract in consultation with SK Communications
          once the Contract has been executed.

     (7)  If any disputes arise between SK Communications and a third party due
          to reasons attributable to Gmarket, Gmarket shall indemnify SK
          Communications therefrom and shall resolve the disputes at its cost
          and responsibility.

     (8)  Gmarket shall perform Articles 13 (delivery), 14 (refund, return and
          exchange) and 16 (Gmarket's obligations) of the Terms and Conditions
          of Use, entered into with members in connection with Internet related
          services to be provided by SK Communications at the Shopping Mall and
          carry out any and all duties relating to sale of goods and services
          such as billing and receipt at its responsibility.

     (9)  Gmarket shall indemnify SK Communications from any and all claims
          under or out of litigation raised by a third party against SK
          Communications in connection with paragraph (8), and if Gmarket fails
          to indemnify SK Communications, Gmarket shall compensate SK
          Communications for any damage. Provided, however, this shall not apply
          with respect to disputes arising due to reasons attributable to SK
          Communications.

     (10) Gmarket shall comply with Article (8) as well as contracts with
          members in connection with sale of goods and services under this
          Contract and the relevant laws and regulations, and shall ensure no
          damage is incurred to members, the Shopping Mall and SK
          Communications's reputation, image, etc.

                                        4

<PAGE>

ARTICLE 6 (SHOP OPENING CONDITIONS AND PAYMENT)

     (1)  Gmarket shall pay monthly to SK Communications an amount (VAT
          inclusive) corresponding to [****] of the net sales from Nate Mall
          (except returned or cancelled sale and delivery cost) as "Sales
          Commission".

     (2)  Gmarket shall pay monthly to SK Communications [****] Korean Won (VAT
          not inclusive) as shop opening and operating cost for the term of this
          Contract. Provided, however, that if the shop operating period is less
          than 30 days, the cost shall be calculated on a pro rata daily basis
          from the first day of shop opening to the last day of the calendar
          month.

     (3)  SK Communications shall issue to Gmarket tax accounts on the shop
          operating cost and sales commission by the end of each month, and
          Gmarket shall pay to SK Communications the cost and commission in cash
          by the 25th date of the next following month.

ARTICLE 7 (USE OF TRADEMARK)

     (1)  SK Communications may use Gmarket's trademark for business activities
          but cannot alter its type and contents and shall refrain from using
          the trademark except for the purpose of business cooperation. In case
          SK Communications uses Gmarket's trademark, SK Communications shall
          obtain Gmarket's consent in advance.

     (2)  The same condition will apply to Gmarket.

[****] = MATERIAL OMITTED: CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND FILED
     SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

                                       5

<PAGE>

ARTICLE 8 (PROMOTION ACTIVITIES)

     (1)  Gmarket shall not make any exaggerated advertisement or disseminate
          false matters in marketing activities in accordance with the principle
          of good faith.

     (2)  Gmarket shall not sell its services or goods using the trademark of SK
          Communications.

     (3)  Gmarket shall not request or accept any other valuables, except for
          the sales amount or delivery cost from members.

     (4)  Paragraphs (1) to (3) will apply to SK Communications.

ARTICLE 9 (PROHIBITION ON TRANSFER OF RIGHTS AND OBLIGATIONS AND PROTECTION OF
PERSONAL INFORMATION)

     (1)  SK Communications and Gmarket shall not transfer, lease, sub-contract
          or provide as security all or any part of the rights and obligations
          under this Contract or any other individual contract without a written
          consent of the other party.

     (2)  Gmarket shall not use nor provide to a third party its customers'
          personal information obtained in connection with this Contract, for
          any other purposes than the original purpose.

ARTICLE 10 (CONFIDENTIALITY AND INTELLECTUAL PROPERTY RIGHT)

     (1)  SK Communications and Gmarket shall provide their own business policy
          and information necessary to conduct business of the other party, and
          shall keep such information provided by the other party confidential.

     (2)  SK Communications and Gmarket shall ensure that the information
          obtained from the other party under this Contract is not reproduced by
          or disclosed to a third party and the other party's intellectual
          property is not infringed.

ARTICLE 11 (TERMINATION)

     (1)  This Contract may be terminated without notice, with immediate effect
          upon sending the termination notice, in each of the following cases.

          1.   A party breaches its obligations under this Contract and fails to
               correct such

                                       6

<PAGE>

               breaches within 15 days from the date when the other party sends
               its request for correction.

          2.   A party transfers its rights under this Contract to a third party
               without a prior consent of the other party.

          3.   A party is subject to application for bankruptcy, composition or
               commencement of corporate reorganization proceedings.

          4.   Notes or checks issued by a party are dishonored.

          5.   In case SK Communications cannot maintain the contract with
               Gmarket for reasonable business strategy, such as business
               transfer or merger of SK Communications.

     (2)  Exercise of the termination right under paragraph (1) shall not affect
          a claim for damages or compensation.

ARTICLE 12 (CESSATION OF ADVERTISEMENT DUE TO FORCE MAJEURE)

Any party which can not perform its obligations under this Contract due to the
events of force majeure such as fire, flood, riot, military action, labor
disputes and governmental directions, etc. shall prove that the party has not
contributed to the events and may claim for indemnification from the
responsibility for default.

ARTICLE 13 (COMPETENT COURT)

Any disputes arising in connection with this Contract shall be subject to
jurisdiction of the Seoul District Court for the first trial.

ARTICLE 14 (OTHERS)

Any matters not provided under this Contract and any controversies in
interpretation of this Contract between SK Communications and Gmarket shall be
in accordance with the individual contract and general commercial transaction
customs related laws and regulations and the commercial practices.

IN WITNESSETH WHEREOF, two copies of this Contract are executed, and SK
Communications and Gmarket sign, state their names and affix their seals hereto
and respectively keep one copy hereof.

                                       7

<PAGE>

                                 January 1, 2005

SK Communications Co., Ltd.
SK Namsan Building, 267, Namdaemunro 5-Ka, Choong-Gu, Seoul
Hyun Oh YOO, Representative Director (seal)

GMARKET Inc.
Nam Seoul Bldg., 1304-3, Seocho-Dong, Seocho-Gu, Seoul
Young Bae KU, Representative Director (seal)

                                       8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]