South Korea's Shinsegae to set up joint venture with Alibaba International, Yonhap says

E-Mart

26/12/2024 07:21

SEOUL, Dec 26 (Reuters) - South Korean retailer
Shinsegae Group  004170.KS  plans to set up a joint venture with
Alibaba International, Yonhap reported on Thursday.
    AliExpress Korea and Shinsegae's e-commerce platform Gmarket
will be incorporated into the joint venture, which will be set
up in 2025. But the two platforms will continue to be operated
independently, Yonhap said citing Shinsegae. 
    A Shinsegae spokesperson could not be immediately reached
for a comment. 

 (Reporting by Joyce Lee; Editing by Christian Schmollinger)
 ((joyce.lee@tr.com;))