03:06 PM EDT, 05/13/2024 (MT Newswires) -- Alibaba Group Holding's ( BABA ) AliExpress and PDD Holdings' ( PDD ) Temu signed an agreement with South Korea's Fair Trade Commission to monitor the sale of harmful or hazardous products on their platforms, according to media reports Monday.

"Recently conducted safety inspections on products such as those for children sold on the AliExpress and Temu platforms detected a large amount of substances harmful to the human body, seriously threatening consumer safety," Reuters quoted the Korean regulator as saying.

"We will immediately block the sale of any problematic items or products on our platform," AliExpress Korea CEO Ray Zhang said, The Korea Times reported. Temu also pledged immediate response to the issue.

The FTC, Temu and Alibaba ( BABA ) did not immediately respond to requests for comment by MT Newswires.

Shares of Alibaba ( BABA ) were up 5.6%, while PDD rose 2.8% in recent trading.

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