Alibaba Group is nearing a deal to merge its South Korean operations with E-Mart's e-commerce platform in a transaction that would value the new joint venture at about $4 billion, Bloomberg News reported on Thursday.

Group’s AliExpress International agreed to merge its South Korean operations with E-Mart’s e-commerce platform, Gmarket, in a 50-50 joint venture, according to a stock exchange filing by E-Mart. The companies plan to make further investments in the JV,

Alibaba Group Holding Ltd. is nearing a deal to merge its South Korean operations with E-Mart Inc.’s e-commerce platform to better compete in the country’s fast-paced online retail sector, according to people familiar with the matter.

South Korean e-commerce market, Alibaba Group Holding Ltd. has entered into a significant agreement with E-Mart Inc. to form a joint venture.

Alibaba Group Holding Ltd. agreed to form a joint venture for its South Korean operations with E-Mart Inc.'s e-commerce platform to better compete in the country's fast-paced online retail sector.

E-Mart acquired a controlling stake in eBay’s South Korean online marketplace for about US$3 billion, expanding its customer base in groceries and general merchandise.

In a $4 billion agreement, Alibaba Group and E-Mart are merging their South Korean e-commerce platforms, forming a joint venture to take full ownership of Gmarket. The deal positions the companies to compete with

Group Holding is set to merge its South Korean operations with E-Mart’s e-commerce platform to strengthen its position in the country’s competitive online retail landscape. AliExpress International and

AliExpress International and South Korea-based E-Mart's e-commerce platform Gmarket are forming a 50-50 joint venture, Bloomberg News reported. The companies plan to make additional investments in the joint venture which will own 100% of Gmarket,