Gmarket to End Homeplus Same-Day Delivery Service

Gmarket, an e-commerce platform under the Shinsegae Group, will discontinue its same-day delivery service for Homeplus. This decision comes as Homeplus undergoes corporate restructuring amid ongoing financial difficulties and the suspension of operations at some of its stores.

According to the retail industry on May 27, Gmarket plans to end the Homeplus same-day delivery service on June 30. Gmarket launched the 'Homeplus Same-Day Delivery Specialty Section' in July 2015, allowing customers to receive orders placed by 4 p.m. on the same day. The service offered fresh produce, meat, and household items based on Homeplus's nationwide store network. Gmarket partnered with Homeplus to meet the demand for fresh food among online shoppers, leveraging the supermarket's logistics network for quick deliveries.

However, since Homeplus filed for corporate rehabilitation in March 2022 to initiate proactive restructuring, the service has faced disruptions. In September and October of last year, same-day delivery was suspended at several locations, including Gayang, Siheung, and Jeonju Wansan.

Recently, there was some hope for improvement when Homeplus sold its supermarket division, Homeplus Express, to NS Shopping, a subsidiary of Harim Group. However, financial challenges remain significant. Homeplus is expected to receive approximately 120 billion won from the sale by the end of next month, but reports indicate difficulties in paying employee salaries and normalizing supply deliveries.

Currently, Homeplus has temporarily suspended operations at 37 of its 104 hypermarket locations until July 3. This reduction in store operations is likely to weaken the foundation for online same-day delivery services.

As uncertainty grows regarding Homeplus's operational status, industry insiders believe Gmarket's decision to end the service reflects this instability. One industry source stated, "Given that Homeplus has suspended operations at 37 stores for nearly two months, Gmarket likely determined it could not maintain the same-day delivery service as before."

A Gmarket representative noted, "We plan to introduce various delivery services in the future to provide a better online shopping experience."

Meanwhile, the deadline for the approval of Homeplus's rehabilitation plan is set for July 3. If a buyer is not found by then, the possibility of liquidation cannot be ruled out.