Shinsegae Group to Join hands with Alibaba...Establishment of joint venture next year

Shinsegae Group says it will form a strategic partnership with "Alibaba International" to establish a joint venture.

The two companies will set up a joint venture in 2025 and will incorporate Gmarket and "AliExpress Korea" as subsidiaries.

Once the cooperation is implemented, Gmarket sellers will have the opportunity to leverage the Alibaba platform to introduce their products to more than 200 countries in the future.

Shinsegae Group said the partnership will expand its presence in the global market and lay the foundation for new growth in domestic e-commerce.