South Korean retailers crack China with Alibaba
Over a thousand brands and retailers attended an event held by Alibaba's Tmall.com in Seoul, South Korea, all looking to get a share of China’s huge e-commerce market.
Over 600 Korean brands are already listed on Tmall.com, which provides the businesses with a platform to launch their own web stores. Chinese company iResearch recorded that, last year, Tmall accounted for as much as 75 percent of online apparel purchases in the country.
Alibaba also announced that South Korean items rank among the most popular products on Tmall Global, a section especially designed for overseas firms that have physical presence in the country. For years, brands from South Korea have heavily relied on e-commerce platforms to reach more Chinese customers.