Document:

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                                                                   Exhibit 10.21

English Translation

                    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
          1% of the payment amount if payment is made in cash, 1% if by credit
          card and 1% 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 1 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 1 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.   25% of the OKCashbag Point Amount;

          ii.  2% of the Used Points;

          iii. An amount separately agreed by both parties.

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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.

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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
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          (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.

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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)<PAGE>

                                                                   Exhibit 10.22

English Translation

            ON-LINE SHOPPING MALL COLLABORATIVE PARTNERSHIP AGREEMENT

SK Corporation ("SK") and Gmarket Inc. ("Gmarket") enter into this On-Line
Shopping Mall Collaborative Partnership Agreement ("Agreement") based on mutual
good faith, as follows. SK and Gmarket shall be respectively referred to as a
"Party" and collectively, the "Parties."

Article 1 (Purpose)

The purpose of this Agreement is to set forth necessary matters, including the
Parties' rights and obligations, and to promote mutual benefit in connection
with the operation of the Gmarket shopping mall (www.gmarket.co.kr) ("Gmarket")
within the on-line shopping mall operated by SK (www.cashbagmall.co.kr)
("Cashbagmall") to enable customers of the Cashbagmall to use the Gmarket.

Article 2 (Description of Collaboration)

     (1)  The activities to be performed by Gmarket in accordance with this
          Agreement shall be the following:

          i.   To link Gmarket within Cashbagmall in a manner separately
               designated by SK (provided, the linked Gmarket mall under this
               subparagraph shall include any and all products and relevant
               contents of Gmarket operated by Gmarket);

          ii.  To sell, settle accounts and deliver products through the linked
               Gmarket mall;

          iii. To maintain and repair the system under its control to allow
               steady operation of the linked Gmarket mall; and

          iv.  To conduct activities separately agreed upon by both Parties in
               relation to the operation of the linked Gmarket mall.

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     (2)  The activities to be performed by SK in accordance with this Agreement
          shall be the following:

          i.   To provide assistance, including set up of its system, necessary
               for Gmarket to link Gmarket within Cashbagmall; and

          ii.  To maintain and repair the system under its control and to assist
               relevant technology to facilitate steady operation of the linked
               Gmarket mall.

     (3)  Any cost incurred to conduct the activities provided under Paragraphs
          (1) and (2) shall be borne by the respective Party. However, in case
          both Parties agree to conduct common promotional activities as part of
          the collaboration, the relevant cost shall be settled by separate
          agreement.

Article 3 (Compliance)

     (1)  Gmarket shall continuously maintain and renew the contents of the
          linked Gmarket mall within Cashbagmall in accordance with this
          Agreement and do its best to activate sale of products through the
          linked Gmarket mall.

     (2)  Gmarket shall daily provide SK with details of product sale
          (customers' purchase details) that took place at the linked Gmarket
          mall in a form separately agreed upon by both Parties.

     (3)  Gmarket shall handle (i) advertisement, purchase, payment and delivery
          of products sold at the linked Gmarket mall and (ii) inquiries and
          claims raised by customers in relation to the use of the linked
          Gmarket mall, at its cost and responsibility, and shall establish and
          operate a contact point for counseling customers to conduct the
          relevant activities.

     (4)  Gmarket shall display at the linked Gmarket mall its company name,
          address, telephone number, fax number, e-mail address and its contact
          point for counseling customers and any change thereof to allow
          customer easy access to such information and shall take all necessary
          measures to prevent any misunderstanding that SK is the producer or
          the seller of the products sold at the linked Gmarket mall.

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Article 4 (Commission)

Gmarket shall monthly pay to SK an amount equivalent to 2.5% of the monthly
sales ("Commission", VAT inclusive) generated at the linked Gmarket mall in
consideration of the operation of Gmarket within Cashbagmall in accordance with
this Agreement.

Article 5 (Calculation and Settlement)

     (1)  SK and Interpark Gmarket shall calculate the Commission for the
          relevant month as of the end of every month, and Gmarket shall
          transfer the Commission confirmed and determined by both Parties to a
          bank account designated by SK in cash by the 25th date of the next
          following month.

     (2)  If a customer cancels purchase of products at the linked Gmarket mall
          after the settlement thereof under paragraph (1), the cancellation
          shall be reflected in the next calculation, unless otherwise agreed
          between both Parties.

     (3)  A Party contesting the settlement under paragraph (1) shall file its
          claim within 15 days from the date of completion of settlement, and if
          the settlement is found by both Parties to be erroneous, the amount of
          the relevant difference shall be reflected in the next settlement.

     (4)  If the settlement under paragraph (1) is delayed, Gmarket shall pay a
          default interest (defaulted principal x default interest rate x number
          of defaulted days/365) for the number of delayed days to SK. In such
          case, the default interest rate shall be the average interest rate of
          general loans of a bank designated by SK.

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Article 6 (Guarantee)

     (1)  Gmarket shall comply with the relevant laws and regulations and
          government authorities' orders and guidance in providing products,
          advertisement and information to customers through the linked Gmarket
          mall and shall do its best to provide customers with high-class
          products and information. Specifically, Gmarket shall not engage in
          any of the following conducts, and any breach thereof discovered by SK
          may lead to immediate suspension of the collaboration contemplated in
          this Agreement.

          i.   Selling products prohibited by the laws and regulations or
               engaging in conduct against the public order and morals;

          ii.  Displaying false, exaggerated, deceptive, unfairly comparing or
               slandering marks or advertisements to deceive or mislead
               customers;

          iii. Disseminating false information or damaging a third party's
               reputation or credit;

          iv.  Infringing upon a third party's intellectual property right,
               including copyright; or

          v.   Infringing on the rights of SK, customers or a third Party.

     (2)  In the event a customer or a third party starts legal or substantial
          disputes against SK in connection with paragraph (1) above, Gmarket
          shall indemnify and hold harmless SK therefrom and solve the disputes
          at its cost and responsibility and compensate SK for any damage
          arising therefrom.

Article 7 (Cooperative Matters)

     (1)  SK and Gmarket shall faithfully perform their own duties provided in
          this Agreement and shall immediately inform the other party of any
          impediments arising in connection with the operation of Cashbagmall
          and the linked Gmarket mall and shall expeditiously correct such
          impediments to minimize any inconvenience to customers.

     (2)  SK and Gmarket may not use the other Party's business name, trademark
          and logo, etc. at either's own on-line or off-line places of business,
          without prior consent by the other Party.

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     (3)  SK and Gmarket shall provide customers using the linked Gmarket mall
          under this Agreement with the same Cashbag service under the
          "OKCashbag Service Collaboration Agreement" and supplementary
          agreements thereto existing between both Parties, provided, that the
          payment of the Cashbag Points, the Used Points and the Service
          Commission, due under those existing agreements shall be calculated
          and settled in accordance with the existing Agreement.

     (4)  SK and Gmarket shall refrain from any conduct that is damaging to the
          other Party's image or reputation and shall faithfully perform the
          Agreement.

Article 8 (Confidentiality)

     (1)  "Confidential Information" under this Agreement shall refer to any and
          all business secret and know-how of the other Party that is provided
          the other Party, or gained by the gaining Party in connection with
          this Agreement, in oral, written or computer file form, irrespective
          of the type and manner, and shall include the details of the rights
          and obligations of both Parties under this Agreement.

     (2)  Each party shall not use the Confidential Information for purposes
          other than those set forth in this Agreement. Further, each party
          shall not copy, reproduce, process, provide, sell or announce to a
          third party the Confidential Information without prior written consent
          by the other Party, and shall be held responsible for any intentional
          or negligent disclosure of the Confidential Information.

Article 9 (Term)

This Agreement shall be effective for one year from the date of execution hereof
and shall be renewed year by year under the same 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 the expiration hereof.

Article 10 (Termination)

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     (1)  In the event a party breaches or delinquently performs its obligation
          under this Agreement, the other Party may demand correction or
          improvement thereof in writing or by phone, and if the responsible
          Party fails to correct or improve within 7 days therefrom, the other
          Party may terminate this Agreement by a written notice.

     (2)  In the event either Party becomes subject to any of the following, the
          other Party may immediately terminate this Agreement by a written
          notice:

          i.   An application for bankruptcy, composition, corporate
               reorganization, workout or any other similar procedure is filed
               or the proceeding starts;

          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.  suspension of operation or cancellation of business license, etc.
               by the relevant authorities;

          v.   deterioration of financial condition rendering performance of
               this Agreement impracticable, such as default on payment
               obligation to the other Party or to a third party arising from
               any other transactions than that of this Agreement without
               justifiable cause or dishonor of negotiable securities such as
               notes and checks; or

          vi.  occurrence of any other cause that obstructs the achievement of
               the purpose of this Agreement.

     (3)  Both Parties may terminate this Agreement at any time upon written
          agreement.

     (4)  In the event this Agreement is terminated pursuant to paragraphs (1)
          through (3), each Party's liability to the other Party shall be
          accelerated and shall be deemed due on the date of termination.

Article 11 (Confirmed Matters)

     (1)  Expiration of the term as provided by Article 9 and termination of the
          Agreement in accordance with the provisions of Article 10 shall not
          affect both Parties' claims, liabilities or claim for damages that
          arose prior to such

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          expiration or termination.

     (2)  Even though this Agreement is expired or terminated, Articles 6, 12,
          13(7) and 13(8) shall continue to be effective and Article 8 shall
          survive the termination of this Agreement for 5 years.

Article 12 (Compensation for Damage)

A Party that has breached its obligations under this Agreement and caused damage
to the other Party shall compensate the other Party for such damage (including
damage to the other Party's reputation or image).

Article 13 (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 followings:

          A.   Change of company name;

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

          C.   Change of the representative, business registration number and
               address;

          D.   Any cause listed in each subparagraph of Article 10(2); or

          E.   Any matter likely to affecting the performance of this Agreement.

     (4)  The Parties acknowledge that a Party's waiver of exercise of any legal
          or

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          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.

     (6)  This Agreement may be modified 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.

                                                               December 15, 2005

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

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

                                        8

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