Alibaba Reportedly Plans $4 Billion eCommerce Venture With Korea's E-Mart

Alibaba is reportedly establishing an online shopping venture with South Korean retailer E-Mart.The two companies are set to combine the assets of their respective online platforms, AliExpress Korea and Gmarket, to form a 50-50 joint venture, The Wall Street Journal reported Thursday (Dec. 26), citing a regulatory filing.The joint venture will launch next year, with the two platforms operating independently, the report added, citing a statement from E-Mart parent Shinsegae Group. Shinsegae Group said it exp ...