SOURCE: Gmarket

January 04, 2007 07:51 ET

Gmarket Appoints Two New Board Members

SEOUL, SOUTH KOREA -- (MARKET WIRE) -- January 4, 2007 -- Gmarket Inc. (NASDAQ: GMKT) (, South Korea's leading e-commerce marketplace, today announced the appointment to its board of directors of Greg Mrva, Vice President of Mergers and Acquisitions of Yahoo! Inc. (NASDAQ: YHOO), and Seok-heon Kim, Managing Partner of Cornerstone Equity Partners. Gmarket's Board now has nine members, of which five are independent directors.

Young Bae Ku, Chief Executive Officer of Gmarket, commented, "Greg and Seok-heon are two strong additions to our Board given their significant experience and expertise in their respective fields. They join us at an important time, given the growth trajectory Gmarket is on, and we look forward to benefiting from their strategic insight and contributions."

Greg Mrva, 37, joined Yahoo! in June 2005. In his role as Vice President of Mergers and Acquisitions, he is a key participant in the development of Yahoo!'s strategy and in the identification and execution of new business opportunities including investments, acquisitions, strategic partnerships and joint ventures. Prior to joining Yahoo!, Mrva was an investment professional with Texas Pacific Group, a well-known private equity and investment firm, from 2003 to 2005. Prior to TPG, Mrva was Vice President of Corporate Development at Mpath Interactive, an Internet media and entertainment company, from 1999 to 2002. Mrva has also worked for Montgomery Securities where he worked on private equity investments in the technology and media sectors. He began his career with Goldman Sachs in New York as a financial analyst in the Mergers and Acquisitions group. Mrva graduated from the University of Virginia with a Bachelor of Arts in History and Economics with high distinction, and holds a JD magna cum laude from Harvard Law School.

Seok-heon Kim, 43, is a managing partner of Cornerstone Equity Partners, a leading Korean private equity firm specializing in buyout and significant control transactions. Kim has over 15 years of experience that has covered private equity, investment banking, corporate finance and corporate operations. Prior to Cornerstone, he held an executive role at Korea Investment & Securities where he led the establishment of Cornerstone, a subsidiary of Korea Investment Holdings which is a listed financial services holding company. He has also served as the head of Korea for CVC Asia Pacific Limited, head of M&A for ABN AMRO Seoul, group leader in Ernst & Young Korea's M&A practice, and at LG Chem., Ltd. Kim holds a Bachelor's degree in Public Law from Seoul National University and a Master of Business Administration degree from the University of Washington.


Gmarket Inc. is a leading retail e-commerce marketplace in Korea, offering buyers a wide selection of products at competitive prices and sellers a comprehensive and flexible sales solution. Gmarket's e-commerce marketplace is highly scalable and facilitates the sale of products in small or large quantities to a large number of potential buyers in a convenient, cost effective and secure manner. Gmarket's e-commerce marketplace is located at

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