Debevoise & Plimpton LLP has advised Alibaba Group on the formation of an e-commerce joint venture with E-MART in South Korea.

The strategic joint venture will be established by Alibaba’s AliExpress Korea and E-MART’s e-commerce platform Gmarket in 2025.

Alibaba Group is a global leader in e-commerce and technology. Founded in 1999, the company operates a diverse portfolio of businesses, including online retail, cloud computing and digital media. E-MART is part of the South Korea-listed leading conglomerate Shinsegae Group.

This partnership marks a significant milestone in the collaboration between two industry giants, combining Alibaba's cutting-edge technology and global reach with E-MART's extensive retail experience and local market knowledge, enhancing its efficiency and competitiveness in the South Korean e-commerce market.

The transaction is subject to customary closing conditions.

The Debevoise team advising Alibaba was led by partner Edwin Northover, and included counsel Wen-Wei Lai, associate Nikolay Kiselev and international associate Michelle Qi.