Chinese e-commerce giant Alibaba Group has announced that it will branch out its logistics services to South Korea this year through its subsidiary Cainiao Network, reports tech news portal Sina.
According to South Korean newspaper JoongAng Ilbo, Alipay, the third-party online payment service under Alibaba, had held a promotional event on 11 March in Seoul, introducing its service with Cainiao Network.
After the Cainiao platform goes live, Chinese consumers will be able to buy goods directly from South Korean sellers through Alibaba’s one-stop service supplied by its online shopping mall Tmall.com, online payment service provider Alipay and Cainiao Network.
According to Alibaba, South Korea’s top two supermarkets, Emart and Lotte mart, as well as its largest online retailer, Gmarket and largest TV shopping platform, Cjmall, have all opened outlets on Tmall.com.
Alipay has supplied cross-border payment services to over 400 South Korean enterprises. The transactions on South Korean shopping websites through Alipay have surpassed the two million mark.
South Korean president Park Geun-hye met with Alibaba’s founder and chairman Jack Ma last August, agreeing to boost e-commerce cooperation between the two countries, including helping Alibaba’s Cainiao logistics enter South Korea’s market.