Document:

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                                                                   Exhibit 10.20

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.

                       OPEN MARKETING INFORMATION CONTRACT

This Open Marketing Information Contract (this "Contract") is made and entered
into by and between Interpark Goodsdaq ("Interpark Goodsdaq") and Open Marketing
Information Co., Ltd. ("Open Marketing") for the OMI (as defined below) service
as follows:

Article 1 (Purpose)

The purpose of this Contract is to set out necessary business handling processes
and the rights and obligations of Interpark Goodsdaq and Open Marketing in
connection with the Intermediary Services provided on the website operated by
Open Marketing (www.omi.co.kr, hereinafter referred to as "OMI") for the sale of
Interpark Goodsdaq's goods and services.

Article 2 (Definition)

     1.   "Members" shall mean users who provide to OMI any necessary
          information for purchasing goods and who are given an ID and a
          password.

     2.   "Intermediary Service" shall mean Open Marketing's provision of
          information on goods and services sold by Interpark Goodsdaq to
          Members through electronic contacts at OMI website and forwarding
          orders received from Members to Interpark Goodsdaq to conclude a sale
          and purchase between Members and Interpark Goodsdaq.

     3.   "Purchase Price" shall mean the price a Member pays to Interpark
          Goodsdaq for the goods or services bought through Open Marketing.

     4.   "Commissions" shall mean the agreed proportional amount from Interpark
          Goodsdaq's sales resulted from Open Marketing's Brokerage, to which
          Open Marketing is entitled by agreement between the parties.

     5.   "Member Information" shall mean any and all personal and purchase
          transaction

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          records provided by Members to Open Marketing.

Article 3 (Obligations)

     1.   Interpark Goodsdaq shall use its best effort to promote sales by
          sharing information on the sale of goods and services with Open
          Marketing.

     2.   Open Marketing shall be equipped with necessary personnel and system
          to give its Members prompt and accurate information on sale of
          Interpark Goodsdaq's goods and services and shall provide advice on
          related businesses.

Article 4 (Purchase Price and Settlement Method)

     1.   Concurrently with the execution of this Contract, Open Marketing shall
          gove Interpark Goodsdaq the account number of an account in the name
          of Open Marketing.

     2.   If Members purchase Interpark Goodsdaq's goods through the
          Intermediary Service of Open Marketing, Interpark Goodsdaq shall pay
          the separately agreed commission into Open Marketing's account.

     3.   Interpark Goodsdaq shall pay into Open Marketing's account an amount
          equal to [****] percent of the sales (VAT inclusive) on the agreed
          date, regardless of the manner of payment (cash or credit cards) of
          Members.

     4.   Interpark Goodsdaq shall settle accounts after confirmation of
          delivery of goods ordered and reflecting any invalidation of orders,
          such as cancellations or refund, etc.

     5.   Open Marketing shall bill Interpark Goodsdaq the monthly sum of the
          commission by no later than the 21st day of the following month by
          issuing a tax invoice, and Interpark Goodsdaq shall pay the sum set
          fort in the tax invoice into Open Marketing's account within seven
          days after receipt of the invoice.

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

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Article 5 (Confidentiality of Credit Information)

     1.   Open Marketing shall not disclose to a third party without prior
          consent of Interpark Goodsdaq any trade secrets and relevant
          information of Interpark Goodsdaq, other than information on goods and
          services, obtained in the course of business.

     2.   Interpark Goodsdaq shall not use or disclose or provide to a third
          party any Member Information, obtained in the course of delivering
          goods and supplying services, without prior consent of Open Marketing
          and Members.

Article 6 (Damages)

     1.   If either party causes any damage to the other party or Members by any
          willful act or negligence in breach of Article 8 hereof, the breaching
          party shall compensate for such damage.

     2.   Interpark Goodsdaq shall bear a all liability for damages incurred by
          Members arising from Interpark Goodsdaq's goods and services sold
          through Open Marketing.

     3.   Interpark Goodsdaq, who is in charge of delivery, shall be liable for
          damages incurred by Members with respect to delivery of goods and
          services.

     4.   If the goods and services sold by Interpark Goodsdaq are the causes of
          disputes relating to trademark, design right, patent, etc., Interpark
          Goodsdaq shall be civilly and criminally liable for damages and
          related costs

Article 7 (Amendment and Termination)

     1.   If either party fails to perform its obligations hereunder without any
          special reason, the other party may amend or terminate this Contract,
          in whole or in part, by mutual agreement between Interpark Goodsdaq
          and Open Marketing.

     2.   If Open Marketing receives a complaint more than three times from
          Members due to Interpark Goodsdaq's willful act or negligence, and if
          the complaint is found reasonable, Open Marketing may terminate this
          Contract at its discretion to protect the Members.

     3.   If this Contract is terminated by agreement between Interpark Goodsdaq
          and Open Marketing, all relevant businesses and outstanding payments
          shall be

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          settled within a month from the date of such termination.

     4.   If Open Marketing determines that Interpark Goodsdaq's willful act or
          negligence will likely obstruct fair trade practices, Open Marketing
          shall give Interpark Goodsdaq a notice thereof and may terminate this
          Contract at its discretion in accordance with the Monopoly Regulation
          and Fair Trade Act and the Enforcement Decree thereof.

Article 8 (Term and Extension)

     1.   The term of this Contract shall be six months from the date of
          execution.

     2.   Unless either or both parties demand to amend or terminate this
          Contract in writing at least 10 days prior to expiration of the term
          referred to in the above paragraph, this Contract shall be
          automatically renewed for another six month-period on the same terms
          and conditions.

Article 9 (Dispute Resolution and Jurisdiction)

     1.   Matters not provided for herein shall be determined upon mutual
          consultation between Interpark Goodsdaq and Open Marketing, unless
          otherwise agreed, and if an agreement fails to be reached through
          consultation, the matter shall be determined in accordance with the
          laws of Korea and general commercial practices.

     2.   If any dispute arises in connection with this Contract, Interpark
          Goodsdaq and Open Marketing shall do their best to resolve the dispute
          through amicable settlement, failing which the dispute shall be
          brought before the Seoul Central District Court for resolution.

IN WITNESSETH WHEREOF, Interpark Goodsdaq and Open Marketing have caused two (2)
copies of this Contract to be executed and affixed with their names and seals,
each of which shall be kept by the respective parties.

                                  June 16, 2003

Interpark Goodsdaq:

     Interpark Goodsdaq
     Address: Hosung Building (new building) 6th Fl., 44-24, Yoido-Dong,

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              Yeongdeungpo-Gu, Seoul

     Business Registration No.: 220-81-83676
     Representative Director: Young Bae Ku [seal]

Open Marketing:

     Open Marketing Information Co., Ltd.
     Address: Techno Mart 22nd Fl., 546-4, Guui-Dong, Gwangjin-Gu, Seou
     Business Registration No.: 214-86-32027
     Representative Director: Pyeong Bong YANG [seal]

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                                                                   Exhibit 10.21

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.

                    OKCASHBAG SERVICE COLLABORATION AGREEMENT

SK Corporation ("SK") and Gmarket Inc. ("Gmarket") enter into the OKCashbag
Service Collaboration Agreement based on mutual good faith as follows. SK and
Gmarket shall be severally referred to as "Party" and shall be collectively
referred to as the "Parties".

Article 1 (Purpose)

The purpose of this Agreement is to provide for the Parties' rights and
obligations and other matters necessary in providing the OKCashbag Service to
Members who use Gmarket Place of Business, so as to promote mutual benefit of
both Parties.

Article 2 (Definitions)

     (1)  "OKCashbag Members" ("Members") shall mean those who may normally use
          the OKCashbag service and are issued OKCashbag cards from SK or
          OKCashbag-affiliated entities recognized by SK, in accordance with the
          standards and procedures provided by SK.

     (2)  "OKCashbag Service" shall mean a service program whereby a Member can
          accumulate points at every purchase of a good or service from an
          OKCashbag-affiliated entity or an OKCashbag-member shop, and if the
          accumulated points reach a certain number, the Member is entitled to
          be refunded the same number of points in cash or purchase goods or
          services at a price equal to the number of points at an
          OKCashbag-affiliated entity or an OKCashbag-member shop.

     (3)  "OKCashbag Card" ("Member Card") shall mean the card issued by SK or
          an

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          OKCashbag-affiliated entity recognized by SK and approved by SK to
          allow members to normally receive OKCashbag service, on the front or
          rear part of which the "OKCashbag" logo is inscribed.

     (4)  "OKCashbag-Affiliated Entity" or "OKCashbag Member Shop" shall mean a
          business establishment or a shop which is approved to provide
          OKCashbag service jointly with SK, by legally entering into a
          cooperation agreement or a membership contract with SK.

     (5)  "OKCashbag Points" shall mean points given to members in accordance
          with the standards agreed between SK and OKCashbag-Affiliated Entities
          or OKCashbag Member Shops after verification of a Member's
          identification through a verification procedure, such as presentation
          of Member cards or entering the Member card number, at every purchase
          of a good or service from an OKCashbag-Affiliated Entity or an
          OKCashbag Member Shop.

     (6)  "Gmarket Place of Business" shall mean the on-line place of business
          at http://www.gmarket.co.kr which is operated directly by Gmarket or
          by a third party on commission from Gmarket.

Article 3 (Collaborative Duties)

     (1)  SK and Gmarket shall perform all necessary duties to provide OKCashbag
          Points to Members in accordance with the point accumulation rate under
          Article 6(1), upon verification of the Member's identification through
          SK's confirmation procedure, including entering the Member Card number
          at the member's purchase of goods or service at the Gmarket Place of
          Business. SK may make deductions in accordance with the OKCashbag
          Service terms and conditions when providing OKCashbag Points to
          Members.

     (2)  SK and Gmarket shall perform all necessary actions to allow Members
          who have accumulated eligible number of points to credit his or her
          OKCashbag Points to the purchase of any goods or services at the
          Gmarket Place of Business, according to SK's rules.

Article 4 (Duties Related to Affiliated Cards)

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     (1)  Gmarket may issue affiliated cards for joint management of members
          upon SK's prior consent. The affiliated cards shall be designed to
          include "OKCashbag" logo onto them, and any costs incurred to produce,
          issue and manage affiliated cards and membership application forms
          shall be borne by Gmarket, unless otherwise agreed between both
          parties.

     (2)  Gmarket shall, in collecting personal information from affiliated card
          members, inform the members that their personal information (including
          changes) will be delivered to SK for the purpose of providing
          OKCashbag Service and shall obtain clear consent thereto.

     (3)  Gmarket shall, without delay after having collected personal
          information of an affiliated card member, deliver to SK the member's
          membership application form or alternative information about the
          member, as consented by SK in advance, and shall promptly notify SK of
          any changes thereof.

Article 5 (General Matters of Compliance)

     (1)  Gmarket shall post the "OKCashbag" logo and an OKCashbag Service
          notice at the Gmarket Place of Business to allow Members to easily
          recognize Gmarket's cooperation arrangement with SK and shall
          faithfully comply with instructions from SK in connection with the
          collaborative duties to be performed to avoid any inconvenience to a
          Member in obtaining the OKCashbag Service.

     (2)  Upon a Member's payment for goods or services, Gmarket shall, after
          confirmation of transaction from SK or a person designated by SK,
          issue to the Member his or her account details, stating the
          verification number, accumulated OKCashbag Points, name, address, and
          representative of the Member Shop, purchase date, and other necessary
          information, or notify the Member of his or her transaction detail in
          another manner consented by SK in advance. Such account information
          shall show the Member the foregoing essential information.

     (3)  Gmarket shall provide OKCashbag Service only to Members who have

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          actually made purchases, unless otherwise mutually agreed, and shall
          not refuse to award or credit to a purchase order OKCashbag Points to
          a Member verified through the procedure set by SK, or impose on a
          Member the service commission set forth in Article 6(4).

Article 6 (Point Payment and Service Commission)

     (1)  The point accumulation rate at the Gmarket Place of Business shall be
          [****] of the payment amount if payment is made in cash, [****] if by
          credit card and [****] if by OKCashbag Points.

     (2)  Upon a Member's purchase of a good or service at the Gmarket Place of
          Business, after verification of the Member's identification pursuant
          to SK procedure, Gmarket shall pay SK an amount equivalent to the
          OKCashbag Points calculated based on the point accumulation rate
          above, with [****] point equaling 1 KRW ("OKCashbag Point Amount").

     (3)  Upon a Member's purchase of a good or service at the Gmarket Place of
          Business, using his or her accumulated OKCashbag Points, after
          verification of the Member's identification pursuant to SK procedure,
          SK shall pay Gmarket an amount equivalent to the OKCashbag Points used
          by the Member for the purchase, with [****] point equaling 1 KRW
          ("Used Points").

     (4)  In consideration for the joint operation of the OKCashbag Service,
          Gmarket shall pay SK the sum ("Service Commission", net of VAT) of the
          following:

          i.   [****] of the OKCashbag Point Amount;

          ii.  [****] of the Used Points;

          iii. An amount separately agreed by both parties.

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

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Article 7 (Calculation and Settlement)

     (1)  SK and Gmarket shall at each month-end calculate the OKCashbag Point
          Amount (A), the Used Points (B), and the Service Commission (C) of the
          relevant month into a mutually agreed upon payment unit and make
          settlement based on the following formula, pursuant to Paragraphs (2)
          and (3) below:

          i.   If [A+C] exceeds B, [(A+C)-B] shall be the settlement amount; and

          ii.  If [A+C] is less than B, [B-(A+C)] shall be the settlement
               amount.

     (2)  If [A+C] exceeds B as a result of the calculation under Paragraph (1)
          above, SK shall submit to Gmarket an invoice for the settlement amount
          under paragraph (1), subparagraph (i) within 10 days from the
          calculation, and Gmarket shall deposit the payment to a bank account
          designated by SK in cash within 10 days from receipt of the invoice.
          In connection herewith, SK may request Gmarket to settle the amount
          through automatic bank transfer, in which case, Gmarket shall open an
          account for automatic bank transfer at a bank consented by SK and
          allow SK to withdraw from the relevant account the settlement amount
          for the preceding month in cash on the 17th date (if this date is not
          a working day for financial institutions, the following working day)
          of every month.

     (3)  If [A+C] is less than B as a result of the calculation under Paragraph
          (1) above, Gmarket shall submit to SK an invoice of the calculated
          settlement amount under paragraph (1), subparagraph (ii) within 10
          days from the date of calculation, and SK shall deposit in cash the
          payment into the bank account designated by Gmarket within 10 days
          from receipt of the invoice.

     (4)  If after settlement pursuant to Paragraphs (2) and (3) of this
          Article, a transaction between Gmarket Place of Business and a Member
          is cancelled, the cancellation shall be reflected at the next
          settlement, unless otherwise agreed.

     (5)  Any party contesting the settlement under paragraphs (2) and (3) above
          shall raise objection within 14 days from the date of completion of
          settlement, and

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          if the settlement is confirmed by both parties to have been erroneous,
          the difference shall be reflected at the next settlement.

     (6)  If the settlement under Paragraphs (2) and (3) is delayed, the
          responsible party shall pay the other party a default interest
          (defaulted principal x default interest rate x number of defaulted
          days/365) for the number of delayed days. In such case, the default
          interest rate shall be the average default interest rate of general
          loan accounts of a bank designated by SK.

     (7)  In case settlement under Paragraphs (2) and (3) is delayed, the other
          party may suspend collaborative activities under this Agreement until
          the responsible party completes the settlement. In such case, the
          responsible party shall notify the Members of the suspension at its
          own place of business and shall handle with any claims/disputes
          arising from the suspension of collaboration at its own cost and
          responsibility.

Article 8 (Cooperative Matters)

     (1)  SK and Gmarket shall reciprocally exchange data necessary for analysis
          of sales transition to the extent permitted under the relevant laws
          and regulations.

     (2)  SK and Gmarket shall actively promote collaboration under this
          Agreement through various media, and plan and implement various
          promoting events to seek improvement of sales by both parties. The
          details, including the volume of publicity and size of promotional
          events shall be determined by mutual consultation to the extent
          feasible by both parties.

     (3)  Upon expiration or termination of this Agreement, SK and Gmarket shall
          immediately delete any identifying marks of the other party, including
          company name, trademark and logo of the other party, at either party's
          place of business.

Article 9 (Good Faith)

SK and Gmarket shall refrain from doing any acts that may damage the reputation
or image of the other party and shall faithfully perform the terms of this
Agreement.

<PAGE>

Article 10 (Confidentiality)

     (1)  "Confidential Information" in this Agreement shall refer to any and
          all business secrets and know-how of the other Party in oral, written
          or computer file form, obtained from the other Party or gained with
          respect to this Agreement, which includes the terms and conditions of
          the rights and obligations of the parties under this Agreement.

     (2)  Neither Party shall use the confidential information for purposes
          other than those contemplated in this Agreement. Neither Party shall
          copy, reproduce, process, provide, sell or disclose to a third party
          the confidential information without prior written consent by the
          other party, and the disclosing Party shall be held responsible for
          any intentional or negligent disclosure of the confidential
          information.

     (3)  Each party may permit its officers and employees access to the
          confidential information only if they signed a confidentiality
          contract the same with or stricter than the provisions of paragraphs
          (1) and (2) above and they need the confidential information in order
          to achieve the objectives of this Agreement, and in the event the
          officers or employees breach their obligation of confidentiality the
          party shall be held responsible for it.

Article 11 (Term)

This Agreement shall be effective for one year from execution hereof and shall
be renewed year by year under the same terms and conditions, unless either Party
notifies the other Party of its intention not to extend the Agreement in writing
by not later than 30 days prior to expiration hereof.

Article 12 (Termination)

     (1)  In the event of breach or delinquent performance of this Agreement by
          a Party, the other Party may demand correction or improvement thereof
          in writing or by phone, and terminate this Agreement by notice in
          writing if no correction or improvement is effected within 7 days of
          request.

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     (2)  A Party may immediately terminate this Agreement in writing in the
          event the other Party is subject to any of the following:

          i.   An application for bankruptcy, composition, corporate
               reorganization, workout or any other similar procedures has been
               filed or has commenced;

          ii.  Major assets or business is transferred to a third party;

          iii. Major assets are subject to attachment, provisional attachment,
               provisional disposition or auction;

          iv.  The Party becomes subject to suspension of operation or
               cancellation of business license, etc. by relevant authorities;

          v.   The Party defaults on the payment obligations under another
               contract with the other Party or a third party without due cause,
               negotiable securities such as notes and checks are dishonored
               insolvent, or the Party's financial state has so deteriorated so
               that the Party is found to be unable to perform this Agreement;

          vi.  Gmarket or its users become subject to legal or practical
               sanction from relevant authorities with respect to the operation
               and use of the Gmarket Place of Business, or have otherwise
               committed a socially disruptive act; or

          vii. Any other causes have arisen that substantially impede proper
               performance of this Agreement.

     (3)  Both parties acknowledge that SK is entering into this Agreement or
          any other similar agreements as part of its diverse new business
          branch-out program and that SK may, after internal discussion,
          determine to stop the OKCashbag Service cooperation with Gmarket (in
          which case, SK shall sufficiently consult with Gmarket in advance, to
          minimize mutual loss). If SK notifies Gmarket of the decision to cease
          the business, this Agreement shall be automatically terminated 60 days
          after the date of notice, in which case, neither Party may claim
          damages arising from termination against the other Party.

     (4)  Both parties may terminate this Agreement at any time upon written
          agreement.

     (5)  In the event this Agreement is terminated pursuant to Paragraphs (1)
          through
<PAGE>

          (4), each Party's liability to the other party shall be
          accelerated and shall be deemed due on the date of termination.

Article 13 (Confirmed Matters)

     (1)  The expiration under Article 11 and termination under Article 12 shall
          not affect either Party's rights, liabilities, and right to damages
          that have arisen prior to the expiration or termination.

     (2)  Notwithstanding the expiration or termination of this Agreement
          Articles 14, 15(7) and 15(8) shall continue to be effective, and
          Article 10 shall survive the termination of this Agreement for 5
          years.

Article 14 (Damages)

The Party that has breached its obligations hereunder and caused damage to the
other Party shall compensate the other Party for the damage (including damage to
the reputation and image of the other Party).

Article 15 (General Provisions)

     (1)  This Agreement constitutes the entire agreement between the Parties
          and all prior written or oral agreement existing between the Parties
          regarding the subject matter of this Agreement shall become null and
          void and be replaced hereby.

     (2)  Each party enters into this Agreement as an independent contractor and
          shall not be deemed as the agent or representative of the other Party
          for any purpose in exercising the rights and obligations hereunder. No
          party shall have any authority to represent, impose legal or de facto
          responsibility on or bind the other Party.

     (3)  Each Party shall notify the other Party in writing or by phone within
          5 days of any of the following:

          i.   Change of company name, business registration number, address;

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          ii.  Request for change of the details of collaboration;

          iii. Determination to go out of business, to change type of business
               or on merger/acquisition;

          iv.  Change of URL of Gmarket Place of Business;

          v.   Reasons described in Article 12(2); or

          vi.  Any matters likely affecting the performance of this Agreement.

     (4)  The Parties acknowledge that a Party's waiver of exercise of any legal
          or contractual remedy against the other Party's breach of this
          Agreement shall not constitute a waiver of the Party's rights against
          the other Party under this Agreement.

     (5)  Neither Party may transfer or provide as security any right under this
          Agreement to a third party without prior written consent of the other
          Party nor allow a third party to undertake any obligation under this
          Agreement, provided that SK may transfer its rights under this
          Agreement to its affiliated company (under Article 2, subparagraph 3
          of the "Monopoly Regulation and Fair Trade Act") and have its
          affiliated company assume its obligation under this Agreement, upon
          prior written notice to Gmarket.

     (6)  This Agreement may be altered or amended only by both Parties' written
          agreement.

     (7)  This Agreement shall be governed by the laws of the Republic of Korea,
          and any unclear matter in this Agreement shall be interpreted in
          accordance with the laws, regulations and commercial practices of
          Korea.

     (8)  Any disputes arising between the Parties in connection with this
          Agreement shall be resolved through consultation between the Parties,
          failing which, the dispute shall be submitted to the jurisdiction of
          the Seoul Central District Court as the court of first instance.

IN WITNESSETH WHEREOF, confirming that the Agreement reflects their intention,
the Parties have executed, signed and affixed their seals to two copies of this
Agreement and shall respectively keep one copy.

<PAGE>

December 15, 2005

SK Corporation
99 Seorin-Dong, Jongro-Gu, Seoul
Hun Chul Shin, Representative Director (seal)

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

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