Shinsegae's E-Mart Discount Chain And Alibaba To Form Korean Joint Venture

Shinsegae Co. signage is displayed outside one of the company's department stores in Seoul, South Korea.SeongJoon Cho/BloombergSouth Korean discount chain E-Mart, a unit of tycoon Chung Yong-jin’s retail conglomerate Shinsegae, has agreed to form a joint venture in South Korea with Chinese e-commerce giant Alibaba.“Through a joint venture that combines our domestic distribution know-how and Alibaba’s e-commerce/IT capabilities, we will expand the sales channels for domestic sellers’ products to be sold and ...