Alibaba opens mall for Korean products
Strategy and Finance Minister Choi Kyung-hwan, fourth from left, with Alibaba Group founder and Executive Chairman Jack Ma, third from left, and Minister of Agriculture, Food and Rural Affairs Lee Dong-phil, fifth from left, at the opening of a shopping channel for Korean goods and services on Alibaba’s e-commerce platform T-mall, at the aT Center in southern Seoul. / Yonhap
By Yoon Ja-young
Alibaba Group has opened a shopping mall selling Korean products on its business-to-consumer (B2C) e-commerce platform, T-mall, officials said Monday.
Meanwhile, young Korean adults will be able to apply for internships at the Chinese e-commerce giant.
Strategy and Finance Minister Choi Kyung-hwan and Jack Ma, founder and executive chairman of Alibaba Group, held a meeting Monday to discuss how to cooperate in e-commerce.
They agreed that expanding bilateral e-commerce cooperation can benefit both countries.
The two have met twice ― in Seoul in August and in Hangzhou in January.
Alibaba Group opened Monday an online shopping channel on its B2C e-commerce platform T-mall for Korean firms to sell their products and services, ranging from agricultural and manufactured goods to tourist packages.
“Imagine how exciting it will be if we can move the cosmetics and garment shops of Myeongdong to Beijing. They would sell like hotcakes. Imagination has become a reality,” Choi said at the opening ceremony.
“Currently, conditions aren’t easy for exporters. There is a need to target the Chinese consumer market instead of focusing on exporting intermediate goods,” he added.
“The Korea outlet is Alibaba Group’s first official country pavilion and we will continue to work with governments of other countries to launch similar ventures in the future in order to satisfy the needs of our Chinese consumers,” Ma said.
“Korean made products have always been popular in China and we are excited to bring these products onto Tmall.com,” he said.
Alibaba promised to provide comprehensive marketing and consulting support for Korean firms.
The country’s state-backed organizations, such as the Korea International Trade Association and the Korea Agro-Fisheries and Food Trade Corporation, meanwhile, will be continuing to select excellent small and medium-sized enterprises eligible for the online shopping mall.
Companies must pay an annual fee and give Alibaba a commission to sell on the platform.
Young Koreans will also participate in the internship program, where they will have chance to work at Alibaba’s headquarters. A total of 20 interns will be selected for the three-month-internship program running from July.
“The young interns will have chance to learn about Chinese consumers and the market, as well as Alibaba’s e-commerce platform business. They will be nurtured as experts in this field targeting Chinese consumers, which is growing rapidly,” the finance ministry explained.
Alibaba is also eying Korea as a global logistics hub. The finance ministry said that Alibaba is currently looking for a Korean partner to cooperate in its logistics link between China and North America.