Alibaba Group and E-Mart are forming a 50-50 joint venture, valued at approximately $4 billion, to consolidate their e-commerce operations in South Korea, including Gmarket and AliExpress Korea. The collaboration aims to enhance its competitive position against local giants such as Naver Corp. and Coupang Inc. amid South Korea’s challenging retail landscape and economic uncertainties. For Alibaba, the move reflects a broader strategy to integrate international and domestic operations while divesting non-core assets to mitigate slowing growth in its primary Chinese e-commerce market.
Alibaba, E-Mart to Create $4 Billion E-Commerce JV in Korea
