Korean department store chain Shinsegae has formed a partnership with Alibaba Group to strengthen its position in South Korea’s e-commerce market. The joint venture, set to be established in 2025, will include Shinsegae’s 100% stake in Gmarket, South Korea’s e-commerce platform, and incorporate both AliExpress Korea and Gmarket. While the platforms will operate independently, the partnership aims to leverage Alibaba’s international network to expand Gmarket’s reach, allowing its 600,000 sellers access to markets in China, the US, Europe, and Southeast Asia. Shinsegae also appointed former Alibaba Korea executive Jeong Hyeong-gwon as Gmarket’s CEO.