This excerpt taken from the EBAY 8-K filed Apr 16, 2009.
Founded in 1998 as an online auctioneer, Internet Auction Co. (IAC) has become one of Koreas leading online marketplaces with more than 21 million registered users. Acquired by eBay in 2001, IAC has played a key role in improving Koreas retail e-commerce market through greater selection for buyers and diverse sales solutions for sellers. IAC offers a wide range of products such as computers, electronics and sporting goods to a dynamic online community of over 2 million daily unique visitors. IACs online marketplace is located at www.auction.co.kr.