Alibaba and E-Mart Team Up for $4 Billion Korean E-Commerce Joint Venture
Alibaba Group Holding Ltd. is merging its South Korean operations with E-Mart Inc.'s e-commerce platform in a joint venture valued at approximately $4 billion, according to a stock exchange filing by E-Mart and a report by Bloomberg. The 50-50 joint venture, combining AliExpress International and Gmarket, aims to