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Photo = Korea Fair Trade Commission (KFTC) |
[Alpha Biz= Kim Jisun] SEOUL, September 18, 2025 – The Korea Fair Trade Commission (KFTC) announced that it has conditionally approved the establishment of a joint venture between Shinsegae Group and Alibaba Group, which will bring Gmarket (including Auction) and AliExpress Korea under a new holding entity, Grand Opus Holding.
The antitrust regulator determined that the merger poses potential risks of restricting competition in Korea’s cross-border e-commerce market. Currently, AliExpress holds a 37.1% market share, ranking first, while Gmarket accounts for 3.9%, placing fourth. Together, their combined share would reach 41%, solidifying their position as the leading player. Considering the growing share of China-sourced goods, the actual impact may be even greater.
The KFTC also highlighted concerns over data consolidation. In online platforms, consumer data drives targeted advertising and recommendation algorithms. If the two companies were to merge their datasets, it could intensify market concentration and raise barriers to entry for smaller competitors.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
