Alibaba Nears $4 Billion Deal for 50-50 Partnership with E-Mart Amid Coupang Competition

Dec 26, 2024, 07:10 AM

Alibaba Group Holding Ltd. is reportedly nearing a $4 billion deal to merge its South Korean operations with E-Mart Inc.'s e-commerce platform. This strategic move aims to enhance Alibaba's competitiveness in South Korea's rapidly evolving online retail market. The joint venture will be established as a 50-50 partnership between Alibaba and Shinsegae, E-Mart's parent company. The deal is seen as a response to the growing competition in the region, particularly from local players such as Coupang. Reports indicate that the merger discussions are at an advanced stage, with multiple sources confirming the negotiations.