Alibaba (09988.HK) is establishing an e-commerce joint venture with South Korea's E-Mart.

AASTOCKS · Dec 27 08:11

The South Korean food retailer E-Mart announced that its E-Commerce platform Gmarket will establish a joint venture with Alibaba (09988.HK)'s AliExpress International, each holding 50% stakes, while Gmarket and AliExpress Korea will continue to operate their respective platforms independently.

Bloomberg cites sources stating that the new joint venture is valued at approximately 4 billion USD, and this Trade is expected to help both companies better compete with South Korean rivals Naver and Coupang.

The translation is provided by third-party software.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.

阿里巴巴(09988.HK)與南韓E-Mart設電商合資公司

Alibaba (09988.HK) is establishing an e-commerce joint venture with South Korea's E-Mart.

Risk Disclaimer

Statement