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(Photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Paul Lee] It has been confirmed that Alibaba Group has prepared an investment plan of more than 1 trillion won to tap the Korean market in the mid- to short-term.
According to Yonhap News on the 14th, Alibaba plans to invest $ 1.1 billion (about 1.4471 trillion won at the current exchange rate) over the next three years to expand its business in Korea.
Alibaba recently submitted this business plan to the Korean government.
First of all, the company plans to invest $ 200 million (about 263.2 billion won) to build an integrated logistics center with a size of 180,000 square meters (about 54,450 pyeong) in Korea within this year. It is one of the largest facilities in Korea with an area equivalent to 25 soccer fields.
Once the logistics center is secured, the delivery period of products sold by Ali Express will be greatly shortened, which will further strengthen the platform's competitiveness.
Alibaba will also invest $ 100 million (about 131.6 billion won) to help Korean sellers sell globally.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
