Alibaba Group has unveiled plans to inject $1.1 billion into South Korea over the next three years, aiming to construct a logistics hub and bolster business operations in the region, according to a report by news agency Yonhap.
The disclosure stems from a business strategy document of Alibaba obtained by the news agency.
The Chinese e-commerce giant aims to allocate $200 million towards the establishment of a logistics center within the current year, with an additional $100 million earmarked to support small and medium-sized enterprises (SMEs) in South Korea in expanding their market reach overseas, the report outlined.
This announcement comes against the backdrop of heightened scrutiny surrounding consumer data practices within the e-commerce sector.
Earlier this month, South Korea’s personal data protection watchdog disclosed its ongoing investigation into the data handling practices of major overseas shopping platforms, including Alibaba’s AliExpress, signaling a broader regulatory landscape that companies must navigate in the region.
