TECH - Alibaba Invests $1.1B in South Korea to Boost Logistics | Benzinga
Alibaba Group Holding Ltd (NYSE:BABA) plans to allocate $1.1 billion towards investments in South Korea over the next three years, aiming to establish a logistics center and broaden its business operations.
Specifically, the Chinese e-commerce behemoth intends to invest $200 million in constructing the logistics center this year, with an additional $100 million earmarked to assist small and mid-sized South Korean companies in marketing their products internationally.
Reuters cites a South Korean news agency Yonhap report, which referenced a business strategy document from the company.
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