Hong Kong, July 6, 2006 LAWFUEL – Press Release Service – Shearma…

Hong Kong, July 6, 2006 LAWFUEL – Press Release Service – Shearman & Sterling LLP has represented lead underwriters Goldman Sachs International and Cowen and Company in connection with the US$140 million initial public offering of Gmarket Inc.

(“Gmarket”). The offering comprises of 9.12 million of the American
Depositary Shares listed on Nasdaq.

Based in Korea, Gmarket is 10% owned by Yahoo!. It is one of the country’s leading retail e-commerce marketplaces.

The Shearman & Sterling team was led by Hong Kong capital markets partner Matthew Bersani and Hong Kong capital markets counsel Kyungwon Lee. The team included Menlo Park partner Laurence Crouch, New York counsel Charles Gittleman and associates Hae Ran Song and Vivian Wong in Hong Kong, Russell Sacks and Damien Grierson in New York, and Tina Patel in Menlo Park.