Alibaba and E-Mart Announce $4 Billion E-Commerce Joint Venture in South Korea

The collaboration will merge AliExpress Korea and Gmarket while maintaining their independent operations, bolstering Alibaba's international expansion strategy.

• Alibaba and South Korea's E-Mart are forming a joint venture valued at approximately $4 billion to strengthen their presence in South Korea's e-commerce market.
• The venture will incorporate Alibaba's AliExpress Korea and E-Mart's Gmarket, though both platforms will continue to operate independently.
• South Korea's e-commerce market, the fourth-largest globally, is highly competitive with local players like Coupang and Naver and growing Chinese platforms such as Temu and AliExpress.
• Alibaba's move aligns with its broader strategy to focus on international markets amid slowing domestic growth and restructuring of its e-commerce operations.
• E-Mart, part of Shinsegae Group, previously acquired a majority stake in eBay's South Korean operations for $3 billion in 2021, signaling its commitment to expanding its online retail footprint.

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