Tag #Shinsegae

What are the immediate implications of the E-Mart-Alibaba joint venture for South Korean businesses and the global e-commerce landscape?

E-Mart, a South Korean discount chain, and Alibaba, a Chinese e-commerce giant, will establish a joint venture called Grand Opus Holding in 2025. This venture aims to expand sales channels for South Korean sellers globally, leveraging E-Mart's distribution expertise and Alibaba's e-commerce capabilities. E-Mart's stock price surged by 5.45% following the announcement, increasing its market capitalization to $1.4 billion.