Alibaba (BABA) will invest $1.1B over the next three years to create a logistics network in South Korea, aiming to take on local e-commerce giant Coupang (CPNG) by leveraging low prices and speedy deliveries, Nikkei’s Kotaro Hosokawa reports. Alibaba plans to construct a logistics center this year in a 180,000-square-meter lot, the author notes. A call center with 300 employees also will be formed, as well as a purchasing department to sell local products overseas, aiming to boost exports for 50,000 small South Korean businesses over three years.
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