SK Telecom to open online marketplace in China

South Korea's SK Telecom Co <017670.ks> plans to open an online marketplace in China this year and is contacting Taobao and other Chinese e-commerce firms for possible partnership, an executive said on Wednesday.

SK Telecom, South Korea's top mobile operator, last week opened an customer-to-customer online shopping site, "11st" (http://www.11st.co.kr), targeting the country's $17 billion e-commerce market, currently dominated by Yahoo -owned Gmarket and eBay Inc's local unit.

"We are aiming for more than 1 trillion won ($1.06 billion) in transaction value in 2009," Chong Nak-kyun, senior vice president of SK Telecom's commerce business, told Reuters in an interview.

"We will be able to start generating profits once transaction value reaches 1 trillion won, helped by gains from mobile payment and advertisements."

SK is contacting Chinese players such as Taobao, the online consumer auction arm of Alibaba's <1688.hk>, and Tom Online's tom.com, Chong said.

($1=947.1 Won)