Alibaba Group has stated its intentions to invest $1.1 billion in South Korea over the next three years in order to expand its business and establish a logistics hub, according to a business strategy document released by the company.
According to a business strategy document provided by the company, Alibaba Group (9988.HK) has announced plans to invest $1.1 billion in South Korea over the next three years in order to expand its business and build a logistics center.
This news was reported on Thursday, and it involves spending $200 million this year on the construction of the logistics center and another $100 million to assist small and mid-sized South Korean companies in selling their products overseas.
The personal data protection watchdog in South Korea announced earlier this month that it is investigating the customer data policies of major international shopping sites, such as Alibaba’s AliExpress.
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