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

SEOUL, Dec 26 (Reuters) - South Korean retailer Shinsegae Group 004170.KS plans to set up a joint venture with Alibaba International, Yonhap reported on Thursday.

AliExpress Korea and Shinsegae's e-commerce platform Gmarket will be incorporated into the joint venture, which will be set up in 2025. But the two platforms will continue to be operated independently, Yonhap said citing Shinsegae.

A Shinsegae spokesperson could not be immediately reached for a comment.

(Reporting by Joyce Lee; Editing by Christian Schmollinger)

((joyce.lee@tr.com;))