Reported about 18 hours ago
Alibaba Group is set to merge its South Korean operations with E-Mart’s e-commerce platform, forming a joint venture valued at around $4 billion. This partnership aims to strengthen their competitive position against local rivals in the fast-evolving online retail market. E-Mart will own 50% of the joint venture which will consolidate its e-commerce assets, allowing both companies to invest further in their shared platform amidst increasing competition.
Source: YAHOO