Alibaba invests 1.5 trillion won in Korea for t... > 경제기사 | economics

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 platforms competitiveness.

Alibaba will also invest $ 100 million about 131.6 billion won to help Korean sellers sell globally.

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/ 알파경제 Paul Lee Reporter