Alibaba Group is set to inject $1.1 billion into South Korea over the next three years, according to a business strategy document cited by South Korean news agency Yonhap on Thursday. The investment aims to establish a logistics center and bolster business operations in the region.
Reportedly, the Chinese e-commerce titan plans to allocate $200 million this year toward constructing the logistics hub and an additional $100 million to support small and medium-sized South Korean enterprises in expanding their global reach.
Alibaba has yet to respond to the reports.
This initiative comes amidst scrutiny from South Korea’s personal data protection watchdog, which recently announced an investigation into the consumer data practices of major overseas shopping platforms, including Alibaba’s AliExpress.
