Alibaba, E-Mart Form $4 Billion Joint Venture to Strengthen South Korean E-Commerce Presence

Benzinga

Alibaba Group Holding Ltd. and E-Mart Inc. have partnered to create a 50-50 joint venture between AliExpress International and Gmarket in South Korea's competitive e-commerce market. The JV will own 100% of Gmarket, with both Gmarket and AliExpress Korea operating independently. Sources estimate the JV's valuation at around $4 billion. E-Mart shares rose in Seoul, while Alibaba's ADRs climbed in New York. The deal strengthens Alibaba's international presence, aligning with its strategy to counter slowing growth in China and challenges from rivals like PDD Holdings Inc. and ByteDance Ltd.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Alibaba Group Holdings Limited and eMarket Inc. have partnered to create a 50-50 joint

00:06venture between AliExpress International and Gmarket in South Korea's competitive e-commerce

00:12market. The JV will own 100% of Gmarket, with both Gmarket and AliExpress Korea operating

00:17independently. Sources estimate the JV's valuation at around $4 billion.

00:23eMarket shares rose in Seoul, while Alibaba's ADRs climbed in New York.

00:28The deal strengthens Alibaba's international presence, aligning with its strategy to

00:32counter slowing growth in China and challenging the rivals like PDD Holdings Inc. and ByteDance

00:38Ltd. For all things money, visit Benzinga.com.

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