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South Korea's Shinsegae to set up joint venture with Alibaba International, Yonhap says
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South Korea's Shinsegae to set up joint venture with Alibaba International, Yonhap says
Dec 26, 2024 12:02 AM

SEOUL, Dec 26 (Reuters) - South Korean retailer

Shinsegae Group plans to set up a joint venture with

Alibaba International, Yonhap reported on Thursday.

AliExpress Korea and Shinsegae's e-commerce platform Gmarket

will be incorporated into the joint venture, which will be set

up in 2025. But the two platforms will continue to be operated

independently, Yonhap said citing Shinsegae.

A Shinsegae spokesperson could not be immediately reached

for a comment.

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