South Korean retailer Shinsegae Group has announced plans to form a joint venture with Alibaba International.

This information was revealed by Shinsegae’s affiliate, E-Mart, in a regulatory filing on Thursday.

Under this agreement, Shinsegae will transfer its entire stake in South Korean ecommerce platform Gmarket to the joint venture.

The venture, set to be established in 2025, will include both AliExpress Korea and Gmarket.

Shinsegae confirmed that, despite the integration, both platforms will continue to operate independently.