Shinsegae, Alibaba Form $B E-commerce Joint Venture in Korea

Seoul, South Korea - Shinsegae Group and Alibaba International have agreed to form a 50-50 joint venture integrating their e-commerce platforms Gmarket and AliExpress Korea in 2025.

The venture will maintain separate platform operations for Gmarket and AliExpress Korea while pursuing market competitiveness through operational integration.

The joint venture will enhance Gmarket's capabilities in three areas:

• It will provide Gmarket's seller network access to Alibaba's global marketplace, which spans 200 countries and regions across 50 markets. 
• The integration will incorporate Alibaba International's IT infrastructure to improve user experience. 
• Additionally, the venture will increase investment in the Korean e-commerce sector, utilizing Alibaba International's growth momentum as the fastest-expanding division within Alibaba Group.

Gmarket sellers will gain streamlined access to global markets through automated product listing capabilities on Alibaba International's platforms. 

The companies are evaluating simplified processes and enhanced settlement procedures.

System integration will be completed in the first half of 2025, initiating full-scale operations. 

The venture intends to leverage economies of scale to enhance seller competitiveness and product offerings.

A Shinsegae Group representative stated that the partnership will facilitate global expansion for domestic sellers while developing new markets for Korean products. 

The representative indicated plans to pursue retail innovation through the new ecosystem.

The venture will prioritize investments in technology infrastructure, product selection, competitive pricing, and personalized shopping features.