Alibaba Nears $4 Billion Deal to Merge South Korean E-Commerce Operations With E-Mart, Competing Against Coupang

Dec 26, 2024, 06:40 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 discussions have been confirmed by multiple sources familiar with the matter, including Bloomberg News and local media outlets. The merger is expected to bolster Alibaba's presence against local competitors such as Coupang.