South Korea's Shinsegae to set up joint venture with Alibaba International

SEOUL (Reuters) -South Korean retailer Shinsegae plans to set up a joint venture with Alibaba International, Shinsegae affiliate E-Mart said on Thursday. The joint venture will be formed partly by Shinsegae investing its 100% stake in South Korean e-commerce platform Gmarket, it said in a regulatory filing. AliExpress Korea and Gmarket will be incorporated into the joint venture, which will be set up in 2025.