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Alibaba Group Holding Ltd. agreed to form a joint venture for its South Korean operations with E-Mart Inc.’s e-commerce platform to better compete in the country’s fast-paced online retail sector.
South Korean discount chain E-Mart, a unit of tycoon Chung Yong-jin’s retail conglomerate Shinsegae, has agreed to form a joint venture in South Korea with Chinese e-commerce giant Alibaba.
Chinese e-commerce giant Alibaba Group Holding and South Korean retailer E-mart plan to set up an online shopping joint venture. Alibaba and E-mart will combine the assets of their separate e ...
The new entity could be valued at about $4 billion, people familiar with the matter told Bloomberg, asking not to be identified discussing confidential information. E-Mart shares rose 5.5% in ...
Following the news, E-Mart shares rose 5.5% in Seoul, bringing the company’s market capitalization to $1.4 billion. Alibaba’s Hong Kong-listed shares climbed 2.6%.
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