UPDATE 1-South Korea's Shinsegae to set up joint venture with Alibaba International

Changes sourcing, adds details

SEOUL, Dec 26 (Reuters) - South Korean retailer Shinsegae 004170.KS Group plans to set up a joint venture with Alibaba International, Shinsegae affiliate E-Mart 139480.KS 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. But the two platforms will continue to be operated independently, Shinsegae said in a separate statement.

(Reporting by Joyce Lee; Editing by Christian Schmollinger and Shri Navaratnam)

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