Reported 2 days ago
South Korean retailer Shinsegae plans to establish a joint venture with Alibaba International, according to its affiliate E-Mart. The venture will include Shinsegae's complete stake in the e-commerce platform Gmarket, with both AliExpress Korea and Gmarket being part of the new entity set for 2025, though they will remain independently operated. This move comes as the e-commerce sector in South Korea, facing competition from local and Chinese companies, shows signs of strain.
Source: YAHOO