South Korea’s Shinsegae to set up joint venture with Alibaba International

South Korean retailer Shinsegae Group plans to form a joint venture with Alibaba International, incorporating Gmarket and AliExpress Korea. Shinsegae will invest its 100% stake in Gmarket into the joint venture, which is set to be established in 2025. Despite the partnership, Gmarket and AliExpress Korea will remain separate entities, operating independently.

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