On December 30, Gelonghui | Daiwa published a report stating that Alibaba's South Korea Business has formed a partnership with E-Mart. It is believed that this will have a limited impact on Alibaba's revenue or profit, but may strengthen its position in the South Korean market. AliExpress regards South Korea as one of its key markets and has a relatively competitive market share compared to its competitor Temu. Daiwa mentioned that Shinsegae, the parent company of E-Mart, is one of the largest retail operators in South Korea, and this merger may benefit AliExpress in terms of user expansion. Meanwhile, Shinsegae's merchants may also benefit from AliExpress's global sales network to export their products to foreign markets.