Auction is the first online marketplace that provided online auction service in the Korean e-commerce market, which was opened in 1998. It was acquired by eBay in the US in 2001 and became eBay Auction Co., Ltd. In 2011, it was merged with eBay G Market Co., Ltd. and launched as eBay Korea Co., Ltd. Originally, the site used to operate auctions and joint purchases as business models, but with the reorganization in 2002, it changed its business model to an online market and put up the slogan of 'the open market we create, auction'.