'Ali baby' and 'e -mart' are established by a joint project of four billion dollars

Alibaba Group Holding has signed an agreement to integrate its operations in South Korea with the E-Mart E-Commerce platform in an effort to improve its ability to compete in the fast-growing online retail sector in the country. Ali Express International and Gmart intend to evenly establish a joint venture between them, according to a announcement of “E Mart” to the stock exchange, confirmed a report published by “Bloomberg News”. The two companies plan to pump more investments into the joint project that will completely own “G -Mart”. According to people who are familiar with “Bloomberg”, the value of the new company can be $ 4 billion, provided their identity is not disclosed due to the confidentiality of information. The “e -Mart” stocks rose 5.5% in Seoul, rising the market value of the company to $ 1.4 billion. The shares of “Ali Baba”, listed in Hong Kong, rose by about 11% this year, estimating the company’s market value at more than $ 200 billion dollars. The agreement will support the two companies in the face of local competitors such as “Nover Corp” and “Coupang”. The confidence of the consumer in South Korea has decreased this month as the fate since the outbreak of “Kovid-19”, influenced by the political turmoil as a result of the statement of President Yun Suk Yol and isolated martial law. ‘Ali Baba’ seeks to expand its international existence to compensate for the slow growth of its most important activity in the field of E -commerce in China. The local e -commerce of the company recorded poor growth during the quarter, which ended in September, which negatively affected the financial results that benefited from cloud activities and international enterprises, including Lazada and “Lazada” and “Ali Express”, similar to the “Temu” application. ‘Ali Baba’, who was previously dominant player in the E -Commerce market in China, is currently suffering to achieve growth in the light of competition from emerging businesses such as ‘PDD Holdings’ and ‘nearby’. This led to a fundamental shift led by co -worker Edi Wu, who took over the role of the CEO more than a year ago, aiming to integrate its main business and direct the investment in the areas where there are the largest growth opportunities. “Ali Baba” is currently working to integrate its local and international operations into the E -Commerce sector led by Jiang, and gradually sell prejudices that are not considered essential. Last week, the company agreed to sell its ‘intimate’ stores to ‘Youngor Fashion’ for about one billion dollars in an effort to not abandon financing assets. The Chinese E -Commerce giant in this agreement will enter into 9.3 billion yuan ($ 1.3 billion) for its initial investment in “antim”. ‘E-marit’ expands his business in its e-commerce through organic growth and through acquisitions. In 2021, it acquired a controlling stake in the eby electronic store in South Korea for about $ 3 billion, in a move that strengthens its customer base in sectors such as groceries and general goods.