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Korea China News Technology Trade

Alibaba Plans to Invest Over 1 Billion USD in Korea

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Alibaba Group, a Chinese technology company, has submitted its business expansion plan in South Korea, including an investment of 1.1 billion USD, industry sources say.

The investment plan includes a new distribution center worth about $200 million on a 180,000-square-meter site by the end of this year. If the plan proceeds, the facility will become the largest of its kind in Korea, equivalent to 25 soccer fields.

As part of the expansion plan, Alibaba also plans to invest $100 million to promote the products of Korean sellers. A new distribution channel is expected to be set up in June through its e-commerce platforms in Southeast Asia and Spanish-speaking countries.

Read the full story HERE.

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